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Peruvian Metals Reports Record Throughput for Q2 at the Aguila Norte Processing Plant in Northern Peru
TORONTO, ON / ACCESSWIRE / July 11, 2019 / Peruvian Metals Corp. (TSXV: PER) (...
About this update from Peruvian Metals Corp.
[{"type":"text","content":"Peruvian Metals Reports Record Throughput for Q2 at the Aguila Norte Processing Plant in Northern PeruTORONTO, ON / ACCESSWIRE / July 11, 2019 / Peruvian Metals Corp. (TSXV: PER) (“Peruvian Metals” or the “Company”) is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant (“Aguila Norte” or the “Plant”) located in Northern Peru.During the second quarter of 2019, Peruvian Metals achieved record processing throughput of 7,509 metric tonnes (“mt”) at Aguila Norte. Mineral processing throughput increased by 357% in the second quarter compared to Q1. The Plant has a capacity of 100 mt per day or approximately 3,000 mt per month.During Q2, the Plant produced high grade concentrates for third parties. Eight mineral campaigns or batches were processed ranging from 355 mt to 1750 mt. All but one of the batches was polymetallic. The Plant achieved excellent recoveries by producing 2019 mt of highly marketable Zinc (1539 MT) and Lead-Silver (480 MT) concentrates. More importantly, concentrate ratios (Amount of Mineral Processed : Tonnes of Concentrates Produced) averaged 3.72 to 1 showing that the Plant is producing significant amounts of concentrate that will interest metal traders to enter into long-term off take agreements with Aguila Norte. The Company is now confident that these metal traders will provide the upfront capital to purchase mineral from suppliers and to make further improvements to the plant.Jeffrey Reeder, CEO of Peruvian Metals, comments: “The Company’s Aguila Norte processing facility achieved record processing throughput during Q2. Our clients are extremely pleased with the concentrates being produced and we believe the Company will be in a position to commence purchasing mineral in the near term for processing and then sell the concentrates to in-country traders. The Company is continuing discussions with small miners to assist them geologically and, in return, either process their mineral for a fee or purchase the mineral outright. This has led us to review new potential properties for acquisition”.Aguila Norte has an environmental permit (“IGAC”) from the Peruvian government which provides the Plant with the ability to expand operations past ...