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Silver X to Upgrade Resources & Expand Development with New Results at Tangana Silver-Polymetallic Mining Unit, Nueva Recuperada
VANCOUVER, BC / ACCESSWIRE / August 9, 2021 / SILVER X MINING CORP. (TSXV:AGX)(OTC Pink:WRPSF...
About this update from Silver X Mining Corp
[{"type":"text","content":"Silver X to Upgrade Resources & Expand Development with New Results at Tangana Silver-Polymetallic Mining Unit, Nueva RecuperadaVANCOUVER, BC / ACCESSWIRE / August 9, 2021 / SILVER X MINING CORP. (TSXV:AGX)(OTC Pink:WRPSF) (\"Silver X\" or the \"Company\") is pleased to provide an update for the Tangana Mining Unit (\"Tangana\") at the Company's Nueva Recuperada project in Huancavelica, Peru.Tangana encompasses 6 principal polymetallic veins that together host an estimated 4,840,015 tonnes of inferred resource grading 116.33 g/t Ag, 3.35% Pb and 1.63% Zn1. Silver X geologists have identified a further 5 potentially economically mineralized veins. In total, the targeted veins identified within the Tangana vein field cover more than 11 kilometres in combined length (see Figure 1). Historical production of polymetallic ore from 1959 to 1976 totalled 269,129 tonnes and was halted due to poor metal pricesz1.Tangana covers some 4,500 ha of prospective silver-polymetallic ground and provides feed to the Recuperada plant which resumed processing material in 2019, has a capacity of 210,000 tpa and has sold USD $6.5M of polymetallic concentrate in H1-2021 YTD in this mine preparation phase; offsetting most of the exploration and corporate costs to date. The Company has initiated a 25,000-metre drill programme (announced July 19, 2021) of which 9,700 metres are aimed at expanding knowledge on and upgrading the quality of the Tangana inferred resource. Silver X also plans to boost underground mine infrastructure development in potentially economic silver-polymetallic mineralization at Tangana Mining Unit. Silver X initiated a permitting process in Q2 to upgrade the plant's capacity from 600 tpd to 720 tpd; with approval expected in Q3. At an appropriate time upon completion of the Company's programmed resource evaluation activities which include underground drilling and bulk sampling, an updated Silver X NI 43-101 technical report will be released. Silver X has budgeted more than 2,300 m of underground development in Tangana in combination with the drilling program.Figure 1: Map of Tangana Mining Unit, showing key veins, infrastructure, concession limits, etc.Tangana ExplorationIn addition to the 3 veins currently being developed for mining (Tangana 1, 2 and San Antonio - see Figure 2), 8 additional historically known polymetallic veins occ...