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Peruvian Metals Acquires 100% Interest in the Au-Ag-Cu Palta Dorada Project in Northern Peru
Edmonton, Alberta--(Newsfile Corp. - January 15, 2024) - Peruvian Metals Corporation (TSXV: PER)...
About this update from Peruvian Metals Corp.
[{"type":"text","content":"Peruvian Metals Acquires 100% Interest in the Au-Ag-Cu Palta Dorada Project in Northern PeruEdmonton, Alberta--(Newsfile Corp. - January 15, 2024) - Peruvian Metals Corporation (TSXV: PER) (OTCQB: DUVNF) (\"Peruvian Metals\" or the \"Company\") is pleased to announce the purchase of Rio Silver's 50% interest in the Palta Dorada Gold-Silver-Copper property (\"Palta Dorada\" or the \"Property\") located in Northern Peru, resulting in 100% ownership. The Company previously earned 50% ownership in the Property in 2020 by investing USD $250,000 and continued to fund project costs into 2021 and after.The acquisition of the remaining interest in Palta Dorada provides the Company with a strategic advantage due to the unique high-grade gold-silver mineralization that occurs in both oxides and sulphides. Peruvian Metals' 80% owned Aquila Norte flotation plant is located 120 km northwest of the Property and can process the sulphides creating a highly marketable Cu-Au-Ag concentrate. The oxide material will be treated differently, and the Company will seek to build a Carbon-in-Pulp (\"CIP\") gold ore processing circuit either at Aquila Norte or near the project site at Palta Dorada. Further updates regarding the proposed gold process circuit, size and location will be issued as they become available.\"Peruvian Metals has demonstrated the ability to operate efficiently and effectively in Peru and we are now ready to expand operations from a position of strength due to our experience and improved financial situation\" commented Jeffrey Reeder, C.E.O., and Director of the Company. \"After several recent site visits to our operations and others, the management team is convinced that there is an ample supply of gold-bearing material in northern Peru. Our proposed move into the Peruvian gold space will be bolstered by the consolidation of Palta Dorada and will be one of many catalysts and sources of material for the CIP circuit. In addition, the Company holds other assets in Peru whereby negotiations are taking place with artisanal miners that need capital for their operations and space for processing. We will always retain the first right to purchase or process minerals from the miners.\"Palta Dorada Work History and GeologyThe Palta Dorada Au-Ag-Cu property is in the Ancash mining department in northern Peru and covers an area of approximately ...