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Peruvian Metals Initiates Permitting Process on the High Grade Minas Maria Norte Property in South-Central Peru
Edmonton, Alberta--(Newsfile Corp. - July 21, 2020) -  Peruvian Metals Corp. (TSXV: PER)...
About this update from Peruvian Metals Corp.
[{"type":"text","content":"Peruvian Metals Initiates Permitting Process on the High Grade Minas Maria Norte Property in South-Central PeruEdmonton, Alberta--(Newsfile Corp. - July 21, 2020) -  Peruvian Metals Corp. (TSXV: PER) (\"Peruvian Metals\" or the \"Company\") is pleased to announce the plans to explore and develop the Company's 100% Minas Maria Norte Property (\"Maria Norte\" or the \"Property\") located in the Huachocolpa Mining District in South-Central Peru. The Property consists of 12 concessions totaling 388 hectares covering an area that hosts a mineralized corridor containing several high grade Au-Ag-Pb-Zn veins. Several historic workings exist on the Property from production in the 1980's. The Property is not subjected to any royalties or liabilities. The Huachocolpa Mining District is host to several producing and past-producing vein-hosted polymetallic, base metal (silver-zinc-lead-copper plus or minus gold) mines. In the mid 1950's, Compañia de Minas Buenaventura opened the Recuperada Mine and Mill (\"Recuperada\") located 14 kilometres SE of Maria Norte. A second plant called Concentradora de Minerales Huachocolpa SA (\"COMIHUASA\") located 8 kilometres SE of Maria Norte was constructed in 1960. This plant was established by state owned Banco Minero as a toll mill for all the small miners in the area. Production in the area ceased in 2014 when Buenaventura closed its Recuperada operation in 2014. During 2015, interest in the Huachocolpa area was renewed and made polymetallic mining and milling the dominant formal economic activity in the district. The area has attracted two serious private companies by purchasing and making significant investments into the historic Recuperada and COMIHUASA mills. The combined capacity of the two mills is currently 1,500 tonnes per day with planned expansions to over 3,000 tonnes per day. Peruvian Metals has recently sold a number of concessions in the area to Latitude Base Metals, the current owner of the Recuperada Mill. The transaction can be viewed in the Company's press release dated March 5th, 2020. Peruvian Metals remains a shareholder in Latitude Base Metals.Mineralization at Maria Norte occurs in a series of conjugate vein sets within a 600 metre wide WNW trending structural corridor. Over 10 veins have been observed on surface with the main trend between E-W and WNW with a secondary ...