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TSX. V | AGMROTCQB | AGMRFBVL | AGMR
Highlights: Closed-loop test
Two concentrates produced with superior recovery rates, one bulk concentrate and one zinc concentrate
Recoveries of 88% Ag, 75% Au, 93% Pb and 91% Cu bulk concentrates
Bulk grades of 47. 8 oz/t Ag, 3. 75 g/t Au, 38. 2% Pb and 7. 2% Cu
Zinc recovery of 84% Zn, grade of 58. 6% Zn
Harmful elements under penalty degrees for any of the concentrates.
TORONTO, Jan. 31, 2024 /PRNewswire/ — Silver Mountain Resources Inc. (“Silver Mountain” or the “Company”) (TSXV: AGMR) (OTCQB: AGMRF) is pleased to announce that it has realized effects of a locked cycle A metallurgical study tested on representative samples from several mineralized veins at its 100% owned Reliquias mine in central Peru. These results show very broad innovations from previous results and come with gold recoveries for the first time. In addition, bulk silver and gold intakes are expected to be approximately 95% and 75%, respectively.
Alvaro Espinoza, CEO of Silver Mountain, said: “We are moving towards production at Reliquias and the finishing touch of these metallurgical tests is a major milestone for the company. Closed-loop testing shows that we can potentially produce two marketable products from Relics. : A high-quality silver-rich bulk concentrate and zinc concentrate with zinc contents higher than those currently produced on average in Peru. We are particularly pleased with the gold recoveries and grades received from the bulk concentrate, the first time those values have been published for Relics. Based on those results, we will work to prepare the first initial economic assessment of Relics, and our teams continue to tirelessly advance the Project toward the planned restart of production during the first part of 2025. “
Discussion of metallurgical results.
Seven composite samples were sent to H. C. Plenge S. A. (“Plenge”), a prestigious metallurgical laboratory located in Lima, Peru, to conduct closed-loop paint testing with the goal of optimizing and improving ancient recoveries reported through previous operators at Relics. Each compound weighed between 30 and 70 kg, totaling 461. 5 kg between the seven samples. The compounds were collected from the Pozo Rico, Perseguida, Meteysaca, Matacaballo, Sacasipuedes, Vulcano and Pasteur veins. Samples were collected from an HQ partial diameter core from the 2023 drill. program and underground samples collected from recently rehabilitated tunnels. The spatial distribution of the sampling is designed to provide representative samples that will be incorporated into a Preliminary Economic Assessment (“PEA”), which is expected to be completed in the first part of 2024.
The Reliquias mine and the Caudalosa processing plant have historically produced two products: a bulk concentrate containing copper, lead, and silver; and a zinc concentrate. Locked cycle testwork was completed on all samples using a primary grind of 120 microns. A regrind to 11 microns was used to optimize recoveries for the zinc concentrate circuit. All the equipment and collectors used are industry standard and can be readily replicated at the Caudalosa facility once it is refurbished and re-recommissioned.
Richard Contreras, the company’s chief operating officer, said, “The conclusion of those detailed metallurgical tests is that the Reliquias mineralization has a consistently low iron content and an average operating rate of 10. 5 kWh/tonne, with fast kinematics. “
A final metallurgical balance, based on 40% material from the Matacaballo Vein, 40% material from the Sacasipuedes vein, 10% from the Perseguida and 10% from the Pozo Rico vein, was used to project overall recoveries from the Relliquias mine. The head grades are summarized in Table 1:
Table 1: Head grades of the veins used to discharge the final metallurgical equilibrium.
Come to
oz/t
In g/t
% Lead
Cu%
%Zn
horsekiller
4. 49
0.34
2,90
0.68
4.53
Sacasipuedes
2. 37
0.12
3. 36
0,59
15:40
paranoid
6.15
0,72
1. 18
0,15
2,35
Rich Well
4. 02
1. 05
2,35
0,30
3. 16
Final Metallurgical Balance
3,76
0,36
2,86
0,55
3,72
The recent metallurgical tests constitute a significant improvement over the old metallurgical recoveries used in the preparation of the existing mineral resource estimate, as shown in Table 2. Silver recoveries, for example, are 15% higher than the old values. These incremental effects will be incorporated into the updated mineral resource estimate and expected PEA in early 2024.
Table 2: Comparison of recent metallurgical effects and old data.
Testwork
Ag %
% Lead
Cu%
%Zn
Metallurgical recoveries used in the estimation of existing ores(1)
73 %
83 %
85 %
71%
Metallurgical Testing 2024
88 %
93%
91 %
84 %
Difference
15 %
10 %
6%
13 %
Notes: (1) Please refer to the Company’s technical report, entitled NI 43-101 Technical Report Mineral Resource Estimate for the Reliquias Mine, Huancavelica-Peru, dated March 27, 2023, dated March 18, 2023Array
The recoveries and concentrate grades calculated for bulk and zinc concentrates are presented in Table 3 and Table Four respectively. Gold grades and bulk concentrate recoveries confirm that gold has the potential to be a byproduct of long-term production in Relics, and no destructive items above penalty levels are reported.
Table 3: Qualities and Recoveries of Bulk Concentrate
Bulk concentrate
Concentrated quality
% Recoveries
oz/t
In g/t
Pb %
Cu%
%Zn
% Agriculture
Au%
% Lead
Cu %
%Zn
Matacaballo
61,95
3. 52
39,94
9.17
7,81
90. 06
74. 41
89,67
89. 01
11. 22
Sacasipuedes
27. 17
0. 97
39. 19
6,64
5,77
95,46
71,49
96.79
93,37
14.08
Pursues
98,50
10:41 a. m.
22,98
2,63
11. 62
70,56
58,79
86,59
79.03
22.06
Rich Well
62. 51
15. 12
36,46
4,74
9,28
89,25
89. 25
93,35
93. 16
17. 66
Compound
47,76
3,75
38. 20
7. 17
7. 21
88. 11
74,83
93. 19
90,85
13:49
Table 4: Zinc Concentrate grades and recoveries.
Zinc concentrate
Concentrated quality
Recoveries %
oz/t
In g/t
%Zn
% Agriculture
Au%
%Zn
Matacaballo
4. 47
0,48
62.30
6. 24
9,73
85,89
Sacasipuedes
1,75
0. 24
59.40
3,56
10. 21
83,76
paranoid
5:00 pm.
3. 33
49. 20
14. 61
14. 22
70,57
Rich Well
6.44
1,82
44.90
8.68
9. 94
78.92
Composite
5. 12
0,71
58,59
7. 19
10. 87
83,55
Some of the Reliquias veins have not been included in this phase of metallurgical testing because they have not yet been systematically drilled. However, the samples used for this program are representative as they span the spectrum of mineralization styles observed.
Silver Mountain is not aware of any factors that could materially affect the accuracy or reliability of the data referred to herein.
On Behalf of the Board of Directors of Silver Mountain Resources Inc.
Alvaro Espinoza, Chief Executive Officer
Qualified Person
Gerardo Acuña, P. Ing. , MAIG Registered Member is an independent representative of the Company and a Qualified Person (within National Instrument 43-101 – Disclosure Standard for Mineral Projects) and has reviewed and approved the clinical and technical data matrix contained. in this press release.
About the Silver Mountain
Silver Mountain Resources Inc. es a silver explorer and mine developer that plans to restart production at the Reliquias underground mine and adopt exploration activities at its silver camps at the Castrovirreyna assignment in Huancavelica, Peru.
For more data related to the Reliquias Mine and the Castrovirreyna Project, please refer to the Company’s Technical Report NI 43-101 Mineral Resource Estimate for the Reliquias Mine, Huancavelica-Peru, dated March 27, 2023, effective date in March. October 18, 2023, available in https://sedarplus. ca.
For more data on our drilling program, adding cross sections of major veins with hollow drill locations, please see our corporate presentation, available on our online page at www. agmr. ca.
Silver Mountain’s subsidiary Sociedad Minera Reliquias S.A.C. owns 100% of its concessions and holds more than 60,000 hectares in the district of Castrovirreyna, Huancavelica, Peru.
info@agmr. cawww. agmr. ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is found in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sampling, QA/QC and Analytical Procedures
Silver Mountain follows systematic and rigorous sampling and analytical protocols which meet industry standards. These protocols are summarized below.
All drill holes are diamond drilling with BQ, HQ or NQ core diameters. Drill core is collected at the underground drilling site where recovery measurements are taken before the core is trucked to the core logging facility at the Caudalosa Grande mining camp, where it is photographed and geologically logged. Then, the core is partly cut with a diamond saw blade, part of the pattern is kept in the core box for long-term reference, and the other part is put into a pre-labeled plastic bag and sealed with a plastic tie. . and known with a unique pattern. number. The core is modeled periodically over a 1 to 2 meter sampling period, unless the geologist determines the presence of a significant geologic contact. The bagged patterns are then stored in a secure domain awaiting shipment to a qualified pattern preparation laboratory.
Rock channel samples were collected with an electric percussion hammer and do not exceed 1.0 m in length. Channels are broken at obvious geologic boundaries to correctly separate rock types and mineralization styles. The sample bags were sealed with a plastic zip tie and identified with a unique sample number, pending shipment to a certified laboratory sample preparation facility.
The standards are sent in batches to ALS or Certimin laboratories in Lima for research. Silver Mountain independently inserts qualified criteria, fine and thick whitespace, and duplicates into the pattern flow to monitor knowledge quality. These criteria are inserted “blindly” into the pattern. series in the lab before leaving the central garage facility. In the laboratory, the standards are dried, crushed, and pulverized, then analyzed using an AA stack assay, completing the gold investigation, and completing the multi-acid digestion with the ICP-AES investigation for the other. elements. Samples with effects exceeding the maximum detection values for the primary elements of interest (Ag, Zn, Pb, Cu) are re-analyzed using accurate ICP techniques to determine the ore grade, while higher gold values are re-analyzed by a stack assay with a gravimetric analyzer.
Forward-Looking Statements
This press release comprises forward-looking data and forward-looking data within the meaning of Canadian securities law (collectively, “prospectuses”) that relate to Silver Mountain’s existing expectations and ideals relating to long-term events. Any that expresses or implies discussions relating to expectations, ideals, plans, objectives, assumptions, or long-term occasions or functionalities (often, though not always, through the use of words or words such as “most likely to turn out,” “are expected”. a,” “expects,” “will continue,” “is expected,” “anticipates,” “believes,” “estimates,” “intends,” “plans,” “forecasts,” “projections,” “strategy,” “objective,” and “outlook”) are not old facts and possibly would be forward-looking statements and would possibly involve estimates, assumptions and uncertainties that may also cause actual effects to differ materially from those expressed in such forward-looking statements. There can be no assurance that those expectations will prove to be accurate and undue reliance should not be placed on the forward-looking statements included in this press release. These statements speak only as of the date of this press release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Silver Mountain’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors set forth under “Risk Factors” in the Company’s annual information form dated August 14, 2023 and other disclosure documents available on the Company’s profile at www.sedarplus.ca. Silver Mountain undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Silver Mountain to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
SOURCE Silver Mountain Resources Inc.
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