Sierra Metals increases Inferred Resources by 200% at Cusi silver mine in Mexico
|Image credit: Sierra Metals|
(Kitco News) - Sierra Metals (TSX:SMT) (BVL:SMT) (NYSE AMERICAN:SMTS) has updated its Mineral Resource Estimate at the company's Cusi Mine, located in Chihuahua State, Mexico.
Total Measured and Indicated Resources increased 18% to 5,356,000 tonnes from 4,557,000 tonnes previously reported; and Total Inferred Resources increased 200% to 4,893,000 tonnes from 1,633,000 tonnes previously reported. Total metal contained in Measured, Indicated and Inferred Resources amounted to 65.86 Moz of AgEq.
The updated Resource Estimate has incorporated new exploration drilling, sampling, and underground mapping information into the geologic interpretation and grade estimations, thereby providing more refined resource models in the Santa Rosa de Lima and Northeast-Southwest zones
The company believes that the Santa Rosa de Lima zone and the Northeast-Southwest demonstrates strong potential for further structural extensions of high-grade zones at the company's Cusi Mine.
Sierra’s management team is “extremely pleased with the increases realized in the measured and indicated resources, and the significant increase in the inferred resources reported in this resource estimate for the Cusi Mine,” CEO Luis Marchese stated. “When compared to the previous estimate filed in February 2018, the Company saw an 18% increase to the measured and indicated resource tonnage and a 200% increase in the inferred resource tonnage. These increases represent a significant amount of additional drilling and mine exploration development work completed at the Cusi Mine, which included the Santa Rosa de Lima Zone as well as the Northeast-Southwest zone, which have strong potential for further structural extensions of high-grade zones,” said Marchese.
Sierra Metals Inc. is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The company is focused on increasing production volume and growing mineral resources.