Silver X Mining increased tonnage by 18% at the Nueva Recuperada Property in Peru, now totaling 4.26 million tonnes at significant silver grades. Inferred tonnage at the La Plata section surged by 45%, enhancing contained silver resources. The company’s strategic developments position it as a key player in the South American silver market.
Silver X Mining (TSXV: AGX) has announced an 18% increase in measured and indicated tonnage at its Nueva Recuperada Property in southern Peru compared to its 2022 preliminary economic assessment. Currently, the tonnage at the Plata Mining unit reaches 4.26 million tonnes, with a silver grade of 3.28 oz. per tonne, alongside gold, lead, and zinc concentrations. Notably, contained silver in the indicated category surged by 92.3%, totaling 5.81 million ounces.
CEO Jose M. Garcia emphasized the significance of the Nueva Recuperada property, stating it is becoming a vital silver project in South America. The company is advancing its asset across a district-scale area, expected to support mining activities over several decades. Exploration efforts have revealed 6.35 million tonnes of resources across 19 of the mapped 171 veins within the concession package.
Silver X shares experienced a 5.5% uptick to C$0.19 in Toronto, elevating the company’s market capitalization to C$38.3 million. The stock has fluctuated in the 52-week range between C$0.16 and C$0.38, reflecting investor interest amid the latest resource updates.
Inferred tonnage at the La Plata section has seen a 45% increase since the last assessment, amounting to 17.18 million tonnes at 5.12 oz. per tonne, with a 51% enhancement in contained silver to 26 million ounces. This updated estimation results from a thorough re-evaluation of historical data leveraging advanced geological interpretative methods.
Based in Vancouver, Silver X operates multiple projects in Peru, including the Nueva Recuperada site that features the Tangana mining unit, located approximately 480 km southeast of Lima. The company commenced Tangana’s production in 2022, aiming for a processing capacity of 720 tonnes per day at the Nueva Recuperada plant, with historical silver production in the vicinity totaling roughly 200 million ounces.
Silver X Mining has notably boosted both measured and indicated tonnage at its Nueva Recuperada Property, reflecting a significant enhancement in its silver resource estimates. The company’s proactive exploration and development strategies position it strongly within the South American silver market. With robust inferred resources and operational goals, Silver X is poised for continued growth in the mining sector.
Original Source: www.mining.com
