Silver X Mining has reported an 18% increase in tonnage at its Nueva Recuperada Property in Peru, with measured and indicated resources now at 4.26 million tonnes. The contained silver has risen by 92.3% to 5.81 million ounces, as noted by CEO Jose M. Garcia, and inferred tonnage has increased by 45% to 17.18 million tonnes, showcasing a promising outlook for the company’s operations.
Silver X Mining (TSXV: AGX) announced an 18% increase in the measured and indicated tonnage at its Nueva Recuperada Property in southwestern Peru, based on a preliminary economic assessment from 2022. The updated assessed resources at the Plata Mining unit now total 4.26 million tonnes, yielding 3.28 ounces of silver per tonne and substantial quantities of gold, lead, and zinc. Notably, the contained silver in the indicated resources at Plata, previously known as Esperanza, surged by 92.3% to 5.81 million ounces.
Jose M. Garcia, CEO of Silver X, emphasized, “Our Nueva Recuperada property continues to position itself as one of the most relevant silver projects in South America. We are developing an outstanding asset, a district-scale property that will see mining activities for several decades.” Exploration efforts have revealed 6.35 million tonnes of resources across 19 of the 171 mapped veins in the area, with Plata encompassing a concession area of 38.3 square kilometers.
Inferred resources at La Plata have also seen significant growth, with a 45% increase from the 2022 assessment, now totaling 17.18 million tonnes at 5.12 ounces of silver per tonne, leading to a contained silver estimate of 26 million ounces—an increase of 51%. The revised estimate relies on a re-evaluation of historical data, utilizing enhanced geological interpretations.
The Vancouver-based company oversees several operations in Peru, including Nueva Recuperada, which hosts its Tangana mining unit located approximately 480 km southeast of Lima. Silver X began production at Tangana in 2022 and is in the process of ramping up operations to reach a nameplate capacity of 720 tonnes per day at the Nueva Recuperada processing plant. Historically, approximately 200 million ounces of silver have been produced in the vicinity within a 30-kilometer radius.
In summary, Silver X Mining has reported significant advancements at the Nueva Recuperada Property in Peru, including an 18% increase in measured and indicated tonnage and a substantial rise in contained silver resources. The company’s ongoing exploration efforts and production ramp-up at Tangana position it as a noteworthy player in the South American silver industry.
Original Source: www.mining.com
