Peruvian Metals Expands Tailings Facility in Anticipation of Increasing Processing Volumes
Edmonton, Alberta--(Newsfile Corp. - September 25, 2019) - Peruvian Metals Corp. (TSXV: PER) ("Peruvian Metals" or the "Company") is pleased to announce that it has completed construction of the expansion to the tailings area at its 80% owned fully permitted Aguila Norte Processing Plant ("Aguila Norte" or the "Plant") located in Northern Peru.
During the months of August and September, Peruvian Metals completed additional plant upgrades at the Plant including the completion of the first phase of the expansion of its tailings area by an additional 15,000 cubic meters. The second phase to increase the height of the tailings dam will commence in early 2020 and will expand the tailings area by an additional 10,000 cubic meters, for a total of 25,000 cubic meters. All plant upgrades and the expansion of the tailings facility were achieved through current cash flow from the processing of third party processed mineral. These upgrades should facilitate quicker throughput times and extend the tailing facility life for at least another 2 years.
Jeffrey Reeder, CEO of Peruvian Metals, comments: "The Company's Aguila Norte processing facility has been operating successfully and achieving positive cash flow, allowing us to reinvest and improve the plant infrastructure without the need for additional equity or debt capital. The expansion of our tailings area is a long-term investment ensuring that the plant can operate at peak capacity for the foreseeable future. We are excited that this upgrade has been completed and we can resume with higher levels of production over the coming months".
Figure 1. Aguila Norte Processing Plant Tailings Expansion Area
To view an enhanced version of Figure 1, please visit:
The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 mt per day level. Jeffrey Reeder, P Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian Exploration and Mineral Processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com .
Peruvian Metals Corp. is a Canadian resource company listed on the TSX Venture Exchange : Symbol "PER"
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
Website: www.peruvianmetals.com Email: email@example.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.
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