The Company intends to use the net proceeds raised from the Private Placement for Cerro Prieto mine improvements, Pinos Project preliminary economic assessment update, debt reduction and general working capital.
Tim Warman, Fuerte’s CEO, commented: “These most recent holes were successful in helping to define the geometry of several high-grade zones within the Guadalupe and Mexico Libre vein systems, and refine the geological model ahead of the resource estimate planned for later this year. Several holes also expanded the area of lower-grade, near-surface mineralization in the Guadalupe vein, which could add to the existing open-pit resource above the higher-grade underground zones.”
Ernesto Balarezo, CEO of Sierra Metals, commented, “I am very pleased to report that the investments we have made in our business units have resulted in record production levels for Sierra Metals. The operational enhancements have strengthened our financial position and will enable the Company to pursue sustainable growth safely and responsibly.”
“Drilling at La Soledad in the Target 1 resource area continues to intercept multiple high-grade silver-gold veins with grades higher than the average Target 1 mineral resource estimate (MRE) published in November 2021 (NI43-101 in August 2024). Further drill holes are scheduled in the Target 1 area at Refugio and Refugio West ahead of an update of the Target 1 resource.”
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