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Silver X Announces Preliminary Economic Assessment for the Tangana Mining Unit Expansion
Positive PEA results support the Company's vision to increase production and processing capacity ...
About this update from Silver X Mining Corp
[{"type":"text","content":"Silver X Announces Preliminary Economic Assessment for the Tangana Mining Unit ExpansionPositive PEA results support the Company's vision to increase production and processing capacity to 2,200 tpdVANCOUVER, BC / ACCESSWIRE / February 14, 2023 / Silver X Mining Corp. (TSXV:AGX)(OTCQB:AGXPF)(F:WPZ) (\"Silver X\" or the \"Company\") announces positive results of a Preliminary Economic Assessment (\"PEA\") for the expansion of the Tangana Mining Unit (\"Tangana\"), the flagship asset within the Company's 100% owned Nueva Recuperada Silver District, which declared commercial production in January 2023. The PEA was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (\"NI 43-101\") prepared by LOM Consultants. All dollar amounts are in US dollars unless otherwise noted.\"The PEA shows the great growth potential of Tangana and supports the Company's vision to triple current production capacity over the next few years,\" stated José García, CEO and Interim Chairman of Silver X. \"The objective is to have two milling facilities - a new mill at Tangana, as outlined in this PEA, along with the existing mill, which is currently producing from Tangana but that will in the future process mineral from Plata (formerly referred to as Esperanza) and other mineralized areas in the district. This PEA represents the first technical and economic evaluation of the deposit at Tangana, demonstrating a manageable initial capital cost for the new mill and multiple opportunities for project growth. We will continue to evaluate resource expansion at Tangana with the possibility of further synergies with nearby deposits and the proposed project infrastructure. We envision solid organic growth within our district-scale project, with the expectation of an increase in production capacity from 720 tonnes per day to 2220 tonnes per day by 2026.\"Mr. García continued: \"The updated resource estimate within the PEA also demonstrates remarkable success in upgrading resources at Tangana and clearly shows how effective exploration can be for the project. I believe that we might only be in the early stages of a much larger and profitable mining project.\"PEA HighlightsUpgraded Mineral Resources to 3.60Mt of Measured and Indicated (\"M&I\") Resources from 0.98Mt in the 2022 Mineral Resource Estimate and...