Edmonton, Alberta–(Newsfile Corp. – March 27, 2020) – Peruvian Metals Corp. (TSXV: PER) (“Peruvian Metals” or the “Company“) is pleased to provide an update regarding the mineral processing at its 80% owned fully permitted Aguila Norte Processing Plant (“Aguila Norte” or the “Plant”) located in Northern Peru.
On March 16, 2020, the Peruvian government restricted all non-essential transportation and travel within the country in addition to declaring a 15-day quarantine whereby all citizens are to stay and work from home if possible. Yesterday, March 26th, the Peruvian President Martin Vizcarra extended the country wide quarantine to April 12th. The restriction included a halt to all transportation including domestic and international flights. Essential businesses and services are exempt from this restriction which includes medical facilities, pharmacies, food markets, gas stations and banks.
In full compliance with the Peruvian government’s quarantine order, the Company suspended processing at Aguila Norte until further notice. Once the Peruvian government lifts the restrictions the Company will be able to resume processing mineral. Prior to the restriction, Aguila Norte processed 2,112 tonnes of third-party material in the quarter and was on pace to exceed mineral processing throughput from 2019’s comparative quarter. In addition, approximately 1,000 tonnes of third-party mineral is stockpiled at site waiting to be processed and shipments to site will recommence once governmental restrictions have been lifted.
Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, commented: “The health and safety of our Peruvian employees remain a priority during this COVID-19 pandemic. The Peruvian government’s strict pro-active measures to contain the COVID-19 are showing positive results. There are very few cases in Northern Peru where our operations are located, and new daily cases are continuing to drop. We are monitoring the situation closely and will restart the processing when the Peruvian authorities lift the restrictions.”
The Aguila Norte Processing Plant located in Northern Peru has an environmental permit (“IGAC”) granted from the Peruvian government which provides the Plant with the ability to expand operations past the current 100 tonnes per day level. Jeffrey Reeder, P. Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model is to provide toll milling services for clients and to produce high grade concentrates from mineral purchases. The Company continues to acquire and develop precious and base metal properties in Peru.
For further information on Peruvian Metals Corp. please visit www.peruvianmetals.com.
Peruvian Metals Corp. is a Canadian resource company listed on the TSX Venture Exchange: Symbol “PER”
For additional information, contact: Jeffrey Reeder Tel: (647) 302-3290
Website: www.peruvianmetals.com Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclosure Regarding Forward-Looking Statements: This press release contains certain “Forward-Looking Statements” within the meaning of applicable securities legislation. We use words such as “might”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “estimate”, “forecast” and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.