New Find Located Within Yauricocha Mine Operations Area
Sierra Metals Inc. (TSX: SMT) has revealed that drilling results demonstrating high-grade oxide polymetallic ore has been confirmed in an area between the Cachi Cachi and Esperanza zones along the Yauricocha Fault and within current operations at the Yauricocha Mine in Peru.
To date, 21 holes have been completed from an exploration adit at the 1070 level of the Yauricocha Mine in the Yauricocha Fault System area. These holes have intercepted oxide mineralisation containing high-grade gold, silver, copper, zinc, and lead zones.
CEO, Luis Marchese, said these results demonstrate the potential for high-grade mineralisation within the reported area and, more importantly, indicate the continued existence of extensive mineralisation.
These results come as part of an ongoing brownfield drilling program that is testing priority targets at the Yauricocha Mine, located 150 km east-southeast of Lima in the Yauricocha Mining District (Cordillera Occidental), Peru.
“The results announced today results represent the existence of further potential at a strategically important zone of the Yauricocha Mine with the confirmation of high-grade oxide mineralisation at depth in the area next to existing operations,” Mr Marchese said.
“The company made a strong commitment to brownfield exploration as part of its growth plan. Results such as the ones released today continue to demonstrate that this investment is paying off with the potential to grow our mineral resources further and add high-value tonnage. This ore will be processed in already existing oxide treatment plant facilities.”
Vice President of Exploration, Alonso Lujan, said the results reported are from the area between the Esperanza and Cachi Cachi Zones.
“They demonstrate significant potential for mineralized resources laterally, to depth, and above in this area located along the Yauricocha Fault System, which was previously not explored.
“Following the success of this drilling programme, further exploration will be conducted within the area to define its mineralised potential better.
“In 2020, the Company commenced construction on a tunnel to connect the Esperanza and the Cachi Cachi orebodies, located 820 meters apart.
“The tunnel allowed exploration along this area adjacent to the trend of the mineralized bodies at the Yauricocha mine. This zone is a top priority exploration target for the company due to its favourable geologic setting and strong geophysical anomalies from our Titan 24 Survey.
“Today’s announcement corresponds to the drilling campaigns of the first two exploration stations along this tunnel. Further drilling stations are planned in the coming months once the tunnel reaches the Cachi Cachi orebodies.”
