Sierra Metals Inc. (TSE:SMT), a Canadian miner focused on Peru and Mexico, said it has encountered wide zones of high grade zinc mineralization at the Cachi Cachi Mine located immediately north of the Central Mine Area of its Yauricocha property.
The company has also expanded its planned 2014 drilling for resource expansion at Yauricocha by 2.5 times.
A total of 34 holes will be drilled at Cachi Cachi during 2014 with 19 longer holes, designed to extend known mineralization, already completed.
Another 15 shorter holes are designed to provide mine planning information and will be completed after a new drilling station is finished on Level 820 in October this year.
“These results from Cachi Cachi are encouraging, especially since our geologists believe that these multiple orebodies continue to depth for a significant distance,” Sierra Chief Executive Officer Daniel Tellechea said in the statement.
Shares fell 5.3 percent to C$1.79 at 2:20 p.m. in Toronto, stretching this year's drop to 19 percent.
Reported by Proactive Investors 10 hours ago.
The company has also expanded its planned 2014 drilling for resource expansion at Yauricocha by 2.5 times.
A total of 34 holes will be drilled at Cachi Cachi during 2014 with 19 longer holes, designed to extend known mineralization, already completed.
Another 15 shorter holes are designed to provide mine planning information and will be completed after a new drilling station is finished on Level 820 in October this year.
“These results from Cachi Cachi are encouraging, especially since our geologists believe that these multiple orebodies continue to depth for a significant distance,” Sierra Chief Executive Officer Daniel Tellechea said in the statement.
Shares fell 5.3 percent to C$1.79 at 2:20 p.m. in Toronto, stretching this year's drop to 19 percent.
Reported by Proactive Investors 10 hours ago.