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Sierra Metals reports positive drilling results from high-grade polymetallic structures including five meters of 36% zinc, 9% lead, 175 g/t silver located 250 meters east of current mine operations at the Yauricocha Mine, Peru

 

 

 

 

 

Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) today announced positive drilling results on high-grade structures at the Contacto Sur Medio zone located close to current operations and within the Central Mine at Yauricocha.

 

 

To date, six holes have been executed from the 1070 level of the Yauricocha Mine in the Contacto Sur Medio zone. These holes have intercepted polymetallic sulphide mineralization, containing high-grade silver, zinc, and lead. These results demonstrate the potential for high-grade mineralization within the reported area and more importantly indicate the continued existence of extensive mineralization at depth. Today’s results come as part of an ongoing brownfield drilling program testing priority targets at the Yauricocha Mine, located 150 kilometers east-southeast of Lima in the Yauricocha Mining District (Cordillera Occidental), Peru.

 

 

“Management is very excited about today’s results as they represent the existence of high-grade polymetallic mineralization at The Contacto Sur Medio zone” commented Igor Gonzales, President, and CEO of Sierra Metals. “We see zinc grades that are more than 35% along with high-grade Silver more than 700 g/t. These results along with other exploration results recently released continue to demonstrate the excellent return on the Company’s capital investments into exploration with the potential for further growth of mineral resources while adding high-value tonnage.”

 

 

Alonso Lujan, Vice President, Exploration of Sierra Metals commented: “The results reported from Contacto Sur Medio demonstrate high-grade, sulphide mineralized sectors containing primarily silver, lead and zinc as shown in table 1 below. The potential exists for further extensions to be defined within the Contacto Sur Medio zone, which remains open at depth. Today’s results demonstrate the considerable high-grade nature of these structures.” He added, “based on the value of the mineralization defined to date, exploration will continue to define the further potential that still exists.”

 

 

All reported intercepts are core length as further drilling is required to determine true thicknesses.

 

 

A map of the Yauricocha Mine 1070 level (Central Mine) is shown in Figure 1. Figure 2 shows the Contacto Sur Medio zone. Figure 3 and 4 show the cross sections of all the drill holes.

 

 

Table 1 – Selected Drill Hole Assay Results from Contacto Sur Medio Zone

 

 

 

Hole No. From To Width

(m)

Ag

(g/t)

Pb

(%)

Cu

(%)

Zn

(%)

Au

(g/t)

ZnEq

(%)

E-CSM 17-17-03 71.0 72.0 1.0 80 5.06 0.03 3.19 0.10 9.35
  74.0 75.2 1.2 21 1.42 0.03 2.53 0.03 4.27
  152.2 152.9 0.7 720 21.58 0.36 17.76 0.41 53.31
  152.9 156.0 3.1 303 15.29 0.04 23.62 0.04 43.13
  184.9 185.2 0.3 242 9.85 0.05 4.72 0.05 18.47
  197.0 200.0 3.0 383 16.30 0.12 26.71 0.34 36.35
  207.1 208.0 0.9 60 2.68 0.02 1.74 0.06 5.43
E-CSM 17-18-01 160.4 160.9 0.5 122 2.68 0.10 5.48 0.31 11.28
  179.4 180.2 0.8 40 1.98 0.03 1.42 0.03 4.05
  193.4 195.0 1.6 58 2.04 0.02 1.92 0.03 5.00
  198.5 200.6 2.1 430 22.10 0.09 23.69 0.08 51.82
E-CSM 17-18-02 64.1 65.1 1.0 27 0.32 0.19 8.07 1.42 11.65
  99.0 106.3 7.3 25 1.51 0.05 2.56 0.06 4.56
  150.3 156.2 5.9 224 3.97 0.48 11.36 0.49 21.56
  202.9 206.6 3.7 230 6.52 0.29 13.27 0.63 25.50
E-CSM 17-18-03 54.1 58.8 4.7 175 9.29 0.17 35.94 0.13 48.04
  223.2 224.0 0.8 229 8.49 0.05 10.77 0.08 23.17
E-CSM 17-18-04 60.6 64.0 3.4 16 0.41 0.04 2.30 0.09 3.23
  158.0 163.2 5.2 118 1.92 0.17 10.31 0.09 15.09
  212.9 215.6 2.7 161 10.41 0.06 5.62 0.15 18.13
  223.0 226.0 3.0 339 17.09 0.05 20.03 0.08 41.92

 

 

Quality Control

 

 

All samples were dried, crushed and pulverized by the Chumpe Lab at the site, pulp samples were shipped by ALS Peru S.A. Lab Chemex to their laboratory in Lima, Peru.

 

 

The quality assurance-quality control program employed by Sierra Metals has been described in detail in the NI-43-101 report for Yauricocha dated December 29, 2017, prepared by SRK Consulting in Denver, which is available for review on Sedar. Standards and blanks are inserted into the sample stream and duplicate samples are sent to the ALS Peru S.A. lab (Chemex) in Lima as per internal quality control procedures. 

 

 

Qualified Persons

 

 

The technical content of this news release has been reviewed and approved by Gordon Babcock P.Eng., Chief Operating Officer and a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. 

 

 

Americo Zuzunaga, MAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person and chartered professional qualifying as a Competent Person under the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

 

 

Augusto Chung, FAusIMM CP (Metallurgist) and Consultant to Sierra Metals is a Qualified Person and chartered professional qualifying as a Competent Person on metallurgical processes.

 

 

About Sierra Metals

 

 

Sierra Metals Inc. is Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its 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.

 

Posted June 8, 2018

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