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TORONTO, December 04, 2024--(BUSINESS WIRE)--Sierra Metals Inc. (TSX: SMT | OTCQX: SMTSF | BVL: SMT) ("Sierra Metals" or the "Company") is pleased to report that its Yauricocha mine in Peru has reached a full capacity throughput rate of 3,600 tonnes per day ("tpd") since the beginning of the fourth quarter. Mine development below the 1120 level was completed on time and on budget and will extend the mine life at Yauricocha.
Ernesto Balarezo, Sierra Metals’ CEO, comments, "Since receiving operating and environmental permits to develop and mine below the 1120 level at Yauricocha earlier in 2024, the team has done a terrific job developing this new zone, and just in seven months has been able to increase the throughput to 3,600 tpd. This was all done on-time, on-budget and most importantly safely."
Mr. Balarezo continues, "Yauricocha is now operating at full capacity, which is a 30% increase from throughput levels of December 2023. As I have previously stated, the increased capacity and corresponding lower operating costs is a game changer for the mine and for Sierra Metals."
Qualified Persons
Ricardo Salazar Milla (AIG #8551), Corporate Manager – Mineral Resources, is a Qualified Person ("QP") as defined under National Instrument NI 43-101 Standards of Disclosure for Mineral Projects. Mr. Salazar has reviewed and approved the scientific and technical content of this news release.
About Sierra Metals
Sierra Metals is a Canadian mining company focused on copper production with additional base and precious metals by-product credits at its Yauricocha Mine in Peru and Bolivar Mine in Mexico. The Company is intent on safely 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 in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company has large land packages at each of its mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of Canadian securities legislation. Forward-looking information relates to future events or the anticipated performance of Sierra and reflect management's expectations or beliefs regarding such future events and anticipated performance based on an assumed set of economic conditions and courses of action. In certain cases, statements that contain forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur" or "be achieved" or the negative of these words or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual performance of Sierra to be materially different from any anticipated performance expressed or implied by such forward-looking information.