20:37:51 EST Fri 09 Dec 2022
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Kuya Silver Corp
Symbol KUYA
Shares Issued 54,632,805
Close 2022-11-17 C$ 0.475
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Kuya Silver samples up to 1,944 g/t AgEq at Carmelitas

2022-11-17 12:41 ET - News Release

Mr. David Stein reports


Kuya Silver Corp. has released the results of its first-ever surface sampling program at the Carmelitas prospect, located approximately three kilometres west of the Bethania mine in a comparable epithermal geological environment.


  • Rock chip samples and channel samples were taken at the Carmelitas mine area and a newly discovered zone of veins (Carmelitas Norte);
  • Nine veins newly identified at Carmelitas Main zone;
  • Kuya geologists have identified six veins along an approximately 250 m long surface trend at the Carmelitas Norte prospect, located approximately 1.2 km to the north of Carmelitas Main zone;
  • Results from Carmelitas Main and Carmelitas Norte include samples containing up to 1,315 grams per tonne (g/t) silver (Ag), 3.6 g/t gold (Au), 8.4 per cent lead (Pb) and 7.7 per cent zinc (Zn).

Kuya Silver conducted a prospecting and channel sampling program in October, 2022, to investigate surficial veins or other potential styles of mineralization, in the vicinity of the past-producing Carmelitas mine, representing the first systematic exploration of the Carmelitas properties by Kuya Silver since they were acquired in 2021.

Sampling results are shown in the associated table.

David Stein, Kuya's president and chief executive officer, remarked: "Our first sampling program at Carmelitas has been successful, and the discovery of a new zone of mineralized veins only 1.2 kilometres from the Carmelitas mine is a positive surprise. Our sampling to date, in both Carmelitas and Carmelitas Norte, suggests that, similar to Bethania, we may be at the upper levels of a silver-rich epithermal system with many closely related, structurally controlled veins that justify further exploration on surface and at depth with diamond drilling. Furthermore, our initial program demonstrates that the silver-polymetallic mineralization at Carmelitas is more extensive than previously understood, with Kuya having identified at least 15 new veins."

The company collected 38 channel and chip samples at the Carmelitas Main zone and an additional 18 channel samples were collected at the newly uncovered Carmelitas Norte zone. Chemically, the veins are similar to those at the Bethania mine site, although they contain less copper and more manganese. The elevated manganese suggests that these veins may be near the upper part of a low-sulphidation epithermal system, with significant potential at depth for additional mineralization.

Quality assurance/quality control and data verification

A total of 56 rock chip samples were collected in October, 2022. The co-ordinates of the locations of each sample were measured by handheld GPS and recorded, and the samples dispatched to the ALS Peru SA laboratory in Lima for geochemical analysis. The analyses were carried out using the following methods: ME-OG61a -- multi-acid digestion and ICP-AES (inductively coupled plasma atomic emission spectroscopy) detection for 33 elements; Au-AA23 -- fire assay, atomic absorption for overlimit gold; and Ag-OG62 -- four-acid digestion and ICP-AES for overlimit silver. The ALS Peru SA laboratory in Lima has international certifications OHSAS 18001, ISO 14001 and ISO 9001, and is accredited by INACAL (El Instituto Nacional de Calidad) under the NTP-ISO/IEC 17025. The 2021 samples were analyzed with SGS Laboratories in Lima, Peru.

National Instrument 43-101 disclosure

The technical content of this news release has been reviewed and approved by David Lewis, PGeo, exploration director of Kuya Silver, and a qualified person as defined by the Canadian Securities Administrators' National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Kuya Silver Corp.

Kuya Silver is a Canadian-based mineral exploration and development company with a focus on acquiring, exploring and advancing precious metals assets in Peru and Canada.

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