Mr. David Stein reports
KUYA SILVER TO COMMENCE TRADING TODAY ON THE CSE UNDER THE SYMBOL "KUYA"
Kuya Silver Corp.'s common shares will commence trading today on the Canadian Securities Exchange under the symbol KUYA.
The company's main objective is to implement a growth strategy at the Bethania silver mining project located in central Peru, with a focus on two main areas: growth in production and growth in silver resources. This includes restarting production from the mine after expanding throughput and the construction of a new flotation plant at site with the associated infrastructure. In the short term, the company will focus on closing the acquisition of an 80-per-cent interest in the mine and subsequently ramp up field activities at the Bethania project site required to advance development.
Kuya provides operational update of Bethania project
Following the approval of the semi detailed environmental impact assessment (EIA) (previously announced on Aug. 25, 2020) for the Bethania process plant, Kuya has been moving ahead with detailed engineering of the tailings storage facility and process plant optimization. Kuya plans to include a metallurgical testwork program as part of this optimization process.
The Kuya team is preparing to commence exploration activities over the next few weeks, which will include improving its geological database of the mine area on surface, as well as the first-ever diamond drill program at the Bethania project.
The goal of the drill program will be to improve confidence of the historical resources, to assist in planning mine production and increasing its knowledge of the geotechnical behaviour of the underground mine. In addition, Kuya has engaged consultants to complete a National Instrument 43-101-compliant resource estimate upon conclusion of the drill program and subsequent analysis of the results.
David Stein, Kuya's president and chief executive officer, stated: "We are very excited to close the acquisition and be able to launch the first-ever drill program at the Bethania project. Even though we have a lot of relatively recent assay and production data from the mine, which suspended production in 2016, we believe the previous mining was just scratching the surface in terms of the potential of the mine and this upcoming drill program is the first step in realizing the Bethania project's true potential."
Kuya appoints Quinton Hennigh as chair of the board of directors
Kuya is pleased to announce that the board of directors has nominated Dr. Hennigh as chairman. Dr. Hennigh is an economic geologist with more than 25 years of exploration experience with major gold mining firms, including Homestake Mining, Newcrest Mining and Newmont Mining. Dr. Hennigh is the founder, president and chairman of Novo Resources. Dr. Hennigh earned a master of science in geology and a doctor of philosophy in geology and geochemistry from the Colorado School of Mines (1993 and 1996, respectively).
National Instrument 43-101 disclosure
The technical content of this news release has been reviewed and approved by Dr. Hennigh, professional geoscientist, chairman of Kuya and a qualified person as defined by National Instrument 43-101.
About Kuya Silver Corp.
Kuya is a Canadian-based silver-focused mining company, earning into an 80-per-cent interest in the Bethania project, located in central Peru. The Bethania mine was in production until 2016, toll milling its ore at various other concentrate plants in the region and the company's plan is to implement an expansion and construct a concentrate plant at site before restarting operations. The Bethania mine produced silver-lead and zinc concentrates from the run-of-mine material until being placed on care and maintenance due to market conditions and lack of working capital.
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