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Lida Resources Acquires Ownership of Quiruvilca Mine in Peru

Mining News - Published on Wed, 01 Jul 2020

Image Source: Lida Resources Quiruvilca Mine
Canadian exploration company Lida Resources Inc announced that it has entered into two agreements to acquire 400 hectares which encompass the Quiruvilca mine. While several million has been spent on this property, the total acquisition cost to the Company was USD 200,000 with no further obligations. The Quiruvilca Mine in Quiruvilca District of Santiago de Chuco Province in La Libertad Peru is located 6 miles south-east of the Company's San Vincente Property. The mine is located at an elevation of 3,800 meters in the Andes Mountains of Northern Peru , approximately 80 miles inland from the coastal city of Trujillo, Peru in the district of Agallpampa, Province of Otuzco. The Property is located in the occidental part of the Tertiary Volcanic Belt of the Western Cordillera and is underlain by rocks of the Calipuy Formation, a precious and base metals metallotects formation found in Peru . The Calipuy Formation is the product of post tectonic volcanism in the Cordillera region.

Quiruvilca is one of Peru's oldest mines with mineralization first reported in the area in 1789. Mining at a corporate level started in 1907 and more or less until 1930 or so. The Quiruvilca Mine has been in continuous operation since about 1940 until 2018 and was initially, focused on the silver bearing veins on the property. In 1967, the mill started to treat complex ores producing silver, lead and zinc concentrate. In 1995, Pan American acquired an 80% interest in the Quiruvilca Mine and increased their interest to 99.7% by 1996.

The workings are extensive, spread out over a wide area, in many veins. Currently, grades run at about 150 g/t silver, 4% zinc, 1.5% lead and 0.5% copper. Stoping has taken place in, reportedly, 60 places. Considering the 1,725 tons/per/day that the mine can process, that is a lot of small stopes! The underground working places are accessed by several adits/ramps and one shaft. Ore is moved to surface, primarily, by one long conveyor belt system but also supplemented by rail movement from ore passes plus skip-hoisted ore.

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Posted By : Yogender Pancholi on Wed, 01 Jul 2020
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