Mr. David Stein reports
KUYA SILVER ANNOUNCES ENGAGEMENT OF MINING PLUS FOR PRELIMINARY ECONOMIC ASSESSMENT AND DETAILED MINE DESIGN
Kuya Silver Corp. has engaged Mining Plus to conduct a preliminary economic assessment on the Bethania silver mine project, in addition to completing a detailed engineering design for the development of an expansion to a production rate of 350 tons per day.
Mining Plus is an international mining services provider with offices around the world including Canada, the United States, Australia and Peru. The Mining Plus mandate consists of two components, both of which are critical for the expansion of the Bethania silver mine. Mining Plus will be completing a detailed design for underground mining at the project. Prior to Kuya's involvement, the mine reached a production rate of 100 ton per day with limited access to capital. While the desktop engineering will start right away, completion of the mandate is contingent on the completion of Kuya's initial drill program and reporting of a National Instrument 43-101 -- Standards of Disclosure for Mineral Projects resource estimate.
The second part of the mandate is to complete a preliminary economic assessment on the Bethania silver mine expansion project to an NI 43-101 standard. In addition to integrating the mine design (as previously mentioned) into the assessment, Mining Plus may subcontract parts of the PEA to other qualified firms including Klohn Crippen Berger (tailings design, dump and stockpile engineering, groundwater) and M3 Engineering & Technology (process plant review).
Concurrently, Kuya intends to execute a 5,000-metre drill program focused on improving confidence in zones close to the existing mine workings. The goal of this initial program is to report a resource estimate to an NI 43-101 standard, as well as testing extensions to the known veins along strike and at depth. The data and modelling obtained from this drill program will also be incorporated into the PEA and engineering design.
David Stein, president and chief executive officer, stated: "Kuya is very pleased to initiate this engineering partnership with Mining Plus to assist us in designing and developing the Bethania silver mine expansion project. Besides the expansion itself, Kuya expects that a professional mine design will provide many other benefits, including improvement of safety standards, ventilation, working conditions, productivity and better integration with the planned flotation process plant. We believe that, by making a relatively small upfront investment to upgrade the planning and engineering design of the mine today, we will generate a stronger return when production is restarted."
NI 43-101 disclosure
The technical content of this news release has been reviewed and approved by Dr. Quinton Hennigh, PGeo, chairman of Kuya and a qualified person as defined by NI 43-101.
About Kuya Silver Corp.
Kuya is a Canadian-based, silver-focused mining company acquiring the Bethania property, 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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