Plata-Peru Resources (PPU-A), which was formed by the recent merger of Socana Exploration and two private companies, is endeavoring to develop and operate a small base metal mine in Peru.
The Pachapaqui mine contains probable reserves of 606,418 tonnes grading 9.96 oz. silver, 5.65% lead, 6.7% zinc and 1.15% copper. The project has additional possible resources, as calculated by consulting engineer Glen Hogg, of 5.5 million tonnes.
The Toronto-based junior continues to mine and mill ore at a rate of 300 tonnes per day as permitted by the availability of hydroelectric power. Since the mill started up last April, power shortages have shut operations down for a total of 60 days. The situation is expected to improve when the rainy season begins, and the company is aiming to increase production to 500 tonnes per day by year-end.
Five shipments of lead and zinc concentrates totalling 1,000 tonnes have been delivered to buyers at the port of Callao. By the end of August, payments based on 80% of the value of four shipments, representing 800 tonnes (in- cluding advances), amounted to US$291,210.
Plata-Peru also is dewatering the lower portions of the mine to allow access to additional ore.
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