Year: 2019

N. Eric Fier, CPG, P.Eng, and CEO, remarked, “Drill Hole BA18-122 is for the record books with 9.3 metres (true width) grading 6,336 gpt AgEq (84.5 gpt AuEq). Further positive results from closely spaced in-fill drilling continue to confirm the continuity of high-grade mineralization in the Babicanora Vein, including Area 51 and Babicanora Central zones, as well as the Babicanora FW and HW veins. Additional drill holes in Area 51 are indicating wider mineralized thicknesses in several areas than previously modelled and are identifying discrete multi-kilogram per tonne silver equivalent mineralized shoots (Shoots 43 and 51). These additional core holes are critical to both in-fill confirmation and potential expansion of resources in the Babicanora veins. This is a great way to start the New Year as we continue to improve our confidence and add ounces in Area 51, hunt for new discoveries on the additional 22 known veins not in the September 2018 resource estimate, compile the new drill results for the next updated resource, and advance the Las Chispas Preliminary Economic Assessment.”

Igor Gonzales, President and CEO of Sierra Metals commented, “We are very pleased with the progress made with our expansion plans at the Bolivar Mine. With the early completion of construction at the Piedras Verdes Mill, we will deliver on our goal of a 20% increase in production from 3,000 TPD to 3,600 TPD, in Q1-2019.”

“We are pleased with the results and interpretations of this first phase of work at Espiritu SMR. The important data compilation and invaluable insights from Luciano Bocanegra has confirmed the porphyry copper-moly-gold potential of the Espiritu SMR project and heightened our understanding of its ongoing exploration potential. This extensive interpretive work and recent re-mapping of the project area has better determined the surface extent of the porphyry system(s) and evidenced several of these zones remain open for ongoing exploration. We are now utilizing this new information, interpretations and recommendations as a means of optimizing and streamlining our future work which is expected to include the recommended magnetic and ZTEM surveys to assist in locating a deeper source of the mineralization in advance of possible drilling at the project”, said CEO Chris T. Grijalva.