Sierra Metals Announces Receipt of Permit Allowing for a 20% Increase of Throughput to 3,600 Tonnes Per Day at Its Yauricocha...
June 16 2021 - 6:30AM
Business Wire
Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN:
SMTS) (“Sierra Metals” or the “Company”) is pleased to announce the
receipt of an Informe Técnico Minero (“ITM”) Permit from the
Peruvian Ministry of Energy and Mines. The ITM Permit allows for
the construction and operation at a capacity of 3,600 tonnes per
day (“TPD”), at the Yauricocha Mine in Peru.
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Luis Marchese, CEO of Sierra Metals commented: “I am delighted
with the receipt of the ITM permit. The Company may now increase
throughput at Yauricocha to 3,600 TPD which represents a 20%
increase in throughput. Today’s news will further support the
Company in achieving its annual production guidance.
Additionally, we continue focusing on the completion of the
Prefeasibility Study at Yauricocha, which examines increasing
throughput to 5,500 TPD starting in 2024, as well as on the
Prefeasibility Studies for our Mexican operations."
He concluded: "2021 continues to be an exciting year for the
Company as we continue with organic growth plans including
significant brownfield and greenfield exploration programs to
support future mineral resource and production growth. Management
also continues to focus on improving and modernizing our mine
operations, increasing operating efficiencies to improve
productivity and reduce costs."
About Sierra Metals
Sierra Metals 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. Sierra Metals has recently
had several new key discoveries and still has many more exciting
brownfield exploration opportunities at all three Mines in Peru and
Mexico that are within close proximity to the existing mines.
Additionally, the Company also has large land packages at all three
mines with several prospective regional targets providing
longer-term exploration upside and mineral resource growth
potential.
The Company's common shares trade on the Toronto Stock Exchange
and the Bolsa de Valores de Lima under the symbol "SMT" and on the
NYSE American Exchange under the symbol "SMTS".
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Forward-Looking
Statements
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of Canadian and
U.S. securities laws related to the Company (collectively,
"forward-looking information"). Forward-looking information
includes, but is not limited to, statements with respect to the
Company's operations, including anticipated developments in the
Company's operations in future periods, the Company's planned
exploration activities, the adequacy of the Company's financial
resources, and other events or conditions that may occur in the
future. Statements concerning mineral reserve and resource
estimates may also be considered to constitute forward-looking
statements to the extent that they involve estimates of the
mineralization that will be encountered if and when the properties
are developed or further developed. These statements relate to
analyses and other information that are based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates",
"assumes", "intends", "strategy", "goals", "objectives",
"potential" or variations thereof, or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and
may be forward-looking information.
Forward-looking information is subject to a variety of risks and
uncertainties, which could cause actual events or results to differ
from those reflected in the forward-looking information, including,
without limitation, the risks described under the heading "Risk
Factors" in our Annual Information Form dated March 30, 2021 in
respect of the year ended December 31, 2020 and other risks
identified in the Company's filings with Canadian securities
regulators and the U.S. Securities and Exchange Commission, which
filings are available at www.sedar.com and www.sec.gov,
respectively.
The risk factors referred to above is not exhaustive of the
factors that may affect any of the Company's forward-looking
information. Forward looking information includes statements about
the future and are inherently uncertain, and the Company's actual
achievements or other future events or conditions may differ
materially from those reflected in the forward-looking information
due to a variety of risks, uncertainties and other factors. The
Company's statements containing forward-looking information are
based on the beliefs, expectations and opinions of management on
the date the statements are made, and the Company does not assume
any obligation to update forward-looking information if
circumstances or management's beliefs, expectations or opinions
should change, other than as required by applicable law. For the
reasons set forth above, one should not place undue reliance on
forward-looking information.
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For further information regarding Sierra Metals, please visit
www.sierrametals.com or contact:
Mike McAllister V.P., Investor Relations Sierra Metals
Inc. +1 (416) 366-7777 Email: info@sierrametals.com
Luis Marchese CEO Sierra Metals Inc. +1(416) 366-7777
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