"Our goal is to completely change the mining methodology. The 2.5km gold/copper sulfide zone requires infill drilling to prove out tonnage. Our objective is to change from a vein type silver mine profile to a high tonnage gold/copper mine profile", stated
The
The mine is located at an elevation of 3,800 meters in the
Quiruvilca is one of
The workings are extensive, spread out over a wide area, in many veins. Currently, grades run at about 150 g/t silver, 4% zinc, 1.5% lead and 0.5% copper. Stoping has taken place in, reportedly, 60 places. Considering the 1,725 tons/per/day that the mine can process, that is a lot of small stopes! The underground working places are accessed by several adits/ramps and one shaft. Ore is moved to surface, primarily, by one long conveyor belt system but also supplemented by rail movement from ore passes plus skip-hoisted ore.
The Quiruvilca deposits are in layered volcanic rocks of the Miocene Calipuy Formation which includes andesite and minor basalt flows. The Calipuy formations have an estimated thickness in excess of 2,000m. Intrusive rocks include andesite stocks and dykes. The ore zones have four distinct zones. Ores in the central part of the district are mesothermal and are dominated by enargite. The mesothermal deposits grade outward to the epithermal deposits. Lewis (1956) described the various zones in some detail. The inner zone is called the
"This transaction is an important consolidation of land in an important part of
About
Lida acquires properties by staking initial mineral claims, negotiating for permits from government authorities, acquiring mineral claims or permits from existing holders, entering into option agreements to acquire interests in mineral claims or purchasing companies with mineral claims or permits. On these properties, the Company explores for minerals on its own or in joint ventures with others. Exploration for metals usually includes surface sampling, airborne and/or ground geophysical surveys and drilling. The Company is not limited to any particular metal or region, but the corporate focus is on precious and base metals in
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FORWARD-LOOKING INFORMATION DISCLAIMER
Certain statements contained in this news release may constitute forward looking information, including but not limited to, expansion of operations. Forward looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking information. The Company's actual results could differ materially from those anticipated in this forward looking information as a result of competitive factors and competition for investment opportunities, challenges relating to operations in international markets, transaction execution risk, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable based on current expectations and potential investment pipeline, but no assurance can be given that these expectations will prove to be correct and such forward looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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