Sierra Metals (SMT-CN)
The discovery of a new high grade sulfide zone 200 meters north of the central mine, along strike and adjacent to current mining activities, contributes to the future growth potential of the company. Underground drilling intersects several wide high-grade copper, lead, zinc and silver sulfide intercepts at the Cuye-Mascota area of the mine. Exploration activities in the areas below Cuye-Mascota ore bodies are on-going and assay results will be reported as they become available. It is the second significant discovery at Yauricocha within twelve months.
Mark Brennan commented: “Our brownfield exploration programs have continued to provide the Company with new targets and opportunities for resource growth within the existing Yauricocha Mine.”
- 18.2m@226.45g/t Ag, 0.37% Pb, 4.9% Cu, 0.89% Zn and 0.23g/t Au from 324.80m.
- 20.10m@125.16g/t Ag, 4.13% Pb, 0.46% Cu, 17.71% Zn and 0.94g/t Au from 237.50m.
- 33.60m@12.77g/t Ag, 0.02% Pb, 2.56% Cu, 0.07% Zn and 0.62% Au from 380.40m.
The Cuye-Mascota orebody, is predominantly a copper sulfide deposit, previously mined to the 870 level horizon. Geologists have confirmed that the orebody continues at depth below the 1270 level and includes an intercept at the 1420 level. The geologists also identified the transition zone of oxides to sulfides which could result in higher recovery rates when processed.