Silver X Mining has announced it updated resource estimate for its 100% owned Nueva Recuperada silver-polymetallic project in Huancavalica, Peru.
According to the company’s statement, the project’s updated inferred mineral resources amounted to 14.9 MT at 162.65 g/T Ag, 2.54 % Pb/T and 2.50 % Zn/T, which is an increase of 104% from those reported in the technical report for the Recuperada project filed on May 3, 2021.
The project’s measured and indicated mineral resources amounted to 841,286 T at 118.5 g/T Ag, 2.85 % Pb/T and 2.16 % Zn/T.
The company added that the majority of the established resource, 12 million tonnes across 7 veins, is situated in the Tangana Mining Unit, which is currently the main source of material for the 720 tonnes per day Nueva Recuperada processing plant that is expanding production.
CEO José Garcia commented, “This new report almost triples the size of the Nueva Recuperada measured, indicated, and inferred silver equivalent resource and gives Silver X a clear road map to further expand production.
“We have published an updated Technical Report containing an improved resource estimate, expanded the processing plant capacity to 720 tpd, and begun ramping up to commercial production. Furthermore, we continue to intersect promising gold values in the Tangana and Cauca structures that represent significant processing upside.”
Silver X is a Canadian silver mining company with assets in Peru. The company’s flagship asset is the Nueva Recuperada silver, gold, lead, zinc and copper project located in Huancavelica, Peru, 10 km north-northwest of the Nueva Recuperada polymetallic concentrate plant.