- Major changes in the Corporate Team, which is now strengthened in Mexico to better support and improve operations
- Metallurgical recovery levels have increased to above 80% at both mills in Mexico from the low 60% range at Cusi and low 70% range at Bolivar
- 13 new pieces of equipment commissioned at Bolivar Mine to maximize ore delivery
- Drift development underway on four sub-levels on the planned pilot sub level longhole stoping area in the Santa de Rosa de Lima structure at the Cusi Mine. This development is increasing the mill campaigns with higher grade ore. This trend is expected to continue until full mill capacity from Santa Rosa de Lima is reached targeted for Q2 2018
Toronto, ON – October 24, 2017 – Sierra Metals Inc. (TSX: SMT) (NYSE AMERICAN: SMTS) (BVL: SMT) (“Sierra Metals” or “the Company”) is pleased to provide an update on the operational improvement program currently taking place at its Bolivar and Cusi Mines in Mexico, focusing on modernizing operations, improving production, and reducing unit costs. A similar program was successfully implemented at the Yauricocha Mine starting in late 2015. The program to date has focused on strengthening the corporate team, adding technical expertise at the projects, improvements to production capacity through mine design, planning and sequencing, and improving metals production through improvements to the metallurgical recovery process and ore throughput.
Igor Gonzales, President, and CEO of Sierra Metals commented: “Management is committed to improving operations in Mexico and to increase the profitability of both the Bolivar and Cusi Mines. We have undertaken efforts to appoint experienced and qualified personnel to run the operational improvements program and improve the efficiency and operations at both mines. We expect that our program efforts should be more apparent in the latter part of 2017 and we will continue working toward completion of the improvements scheduled for the end of Q1 2018. We are optimistic about the outcome and expect to see higher cash flow from our Mexican operations starting in Q2 2018.”