Press release – July 18, 2022 – 8:00 a.m.
Auplata Mining Group – AMG (Euronext Growth – FR0013410370 – ALAMG) (“the Company”)
AMG Peru
I. Start of the exploration project ”
Nancy
” on the concession “Sandra 104”
After having obtained all the necessary permits and authorizations, AMG Peru has recently started the exploration project for the vein ”
Nancy
” and ”
Lucero
“located on the concession”
Sandra 104
“.
This is an important step for AMG Peru and for the future of the AMG Group, as it may renew the resources and reserves destined for the Suyckutambo processing plant.
Concession ”
Sandra 104
“covers an area of 187.48 hectares with low sulphidation epithermal type mineralization. Geological mapping has identified mainly volcanic rocks of the Tacaza group, structures composed of faults and veins, with a predominant system of northwest-southeast orientation with a southwest-south dip.
The vein ”
Nancy
“is a 1.5 m thick by 17 m long outcrop of greyish-white quartz, brecciated-latite-band-crustiform texture, manganese oxide (psilomelane and limonite-hematite-jarosite. It has was sampled on the basis of historical data (previous to recent geochemical data) with a content of up to 6 g of gold / ton and 90 g of silver / ton, confirming a potential adjacent to the exploitation zone current.
Geological mapping has identified eight main veins extending up to 700 m in length.
Nancy
Lucero
Analytical
Milett
Barita
Shirley
jennifer
Adriana
A geophysical survey was also carried out, carrying out 18.2 linear km of magnetometry and 17.75 linear km of induced polarization (IP), spread over 13 lines with encouraging results.
The structural interpretation of the target ”
Sandra 104
” has been carried out, both in plan and in sections. For this interpretation, priority is given to the main structures recognized using the geophysical information of resistivity and chargeability.
The geophysical image below shows a well-marked anomalous resistivity response with an east-west orientation and a slight north-west trend; there is a correlation with the cartography and the structural model.
The structural pattern is Riedel type, the San Cristóbal and Animas veins on the Fortuna Silvers claims and adjacent to ”
Sandra 104
“, have extreme shear structures (2
th
order). The Nancy and Lucero veins, as well as all the others, correspond to type R1 structures (3
th
order) like the exploited veins of the El Santo Mine. This indicates favorable ground for the discovery of new resources in the concession ”
Sandra 104
“.
Furthermore, the chargeability seems to show a presence of sulphides in the volcanic rocks, in particular the Nancy and Lucero vein system with high chargeability values between 11.50 and 14.40 Ohms.
On the geochemical level, the first analyzes of the project have been carried out with encouraging results. There are anomalies with high values in gold, silver, lead, zinc and copper (Au up to 23 ppm, Ag up to 459 ppm, Cu up to 4,301 ppm (equivalent to 0.43%),
Pb up to 82,690 ppm (equivalent to 8.27%), Zn up to 1,209 ppm (equivalent to 0.12%).
The vein ”
Nancy
” would be most promising with the following:
Identification 1: 7.40 m. wide @ 3.01 g Au/t, 159.03 g Ag/t, 0.19% Cu, 3.37% Pb and 0.24% Zn.
ID 2: 5.95m. wide @ 3.22 g Au/t, 104.09 g Ag/t, 0.19% Cu, 1.59% Pb and 0.26% Zn.
The geochemical samples were sent for multi-elemental ICP analysis to an external laboratory Bureau Veritas, which is certified and accredited by NTP ISO 17025 before INACAL (Institut National de la Qualité), which guarantees the highest global quality standards. high for testing and calibration laboratories; likewise, the work complies with the parameters and protocols established in the NI 43-101 certification, carried out in 2018.
In order to confirm the potential, AMG Peru has scheduled 5,000 meters of diamond drilling on the surface and from the underground mine.
II. Recognition of the exploration project of ”
San Miguel
” by the Peruvian Government
After having obtained in 2021, on this exploration project, the authorization to begin the drilling of geophysical anomalies (IP) following a process of prior consultations with the stakeholders (rural, indigenous and indigenous communities) and the approval by the authorities of the environmental impact study, AMG Peru signed on June 20, 2022 with the Peruvian government, as part of its mining activity development plan, a Mining Investment Contract, thus giving recognition to the project of
San Miguel
“, as one of the flagship projects of the Peruvian authorities. ”
San Miguel
” thus enters the Peruvian government’s ranking alongside other Peruvian and international projects.
The Mining Investment Contract is a measure to promote and stimulate mining investments by the Peruvian State. It allows its beneficiary, AMG Peru, to benefit from the VAT and municipal tax reimbursement scheme, ie 20% of the investment actually made on the project.
The exploration project
San Miguel
“covers 5,230 hectares, lithologically identifying a Miocene volcanic cover of the Tacaza Group, subvolcanic intrusive rocks, dacitic ignimbrites, andesitic agglomerates, volcano-sedimentary deposits and hydrothermal breccias, with advanced argillaceous alteration and vuggy silica, this type of alteration represents clear evidence of high sulphidation deposits with possible gradation to a porphyry-type deposit at depth.
Of the 5,000 meters of drilling scheduled for 2022, 1,700 meters were carried out during the 1
er
semester, identifying four domes representing the strong volcanic activity of the region and the geological potential of a porphyry deposit at depth.
III. Obtaining bank financing with a Peruvian bank to increase the capacity of the treatment plant ”
Ana Maria
” on the site of ”
Suyckutambo
” from 300 tons to 500 tons per day from 1
er
August 2022
Due to the good results of AMG Peru on these operations in 2021, points I. and II. mentioned above and AMG Peru’s desire to promote the use of Peruvian financing in order to strengthen its involvement in the country, AMG Peru signed a financing agreement (operational leasing) on June 24, 2022 with the Peruvian bank Banco Interamericano de Finanzas – BANBIF (Bank with more than 30 years of experience in the Peruvian mining market), allowing to finance the necessary equipment for the processing plant”
Ana Maria
” on the site of ”
Suyckutambo
” to increase the processing capacity from 300 tons / day to 500 tons / day from 1
er
August 2022.
This financing has a maturity of 3 years.
The increase in the processing capacity of the plant from 300 tons/day to 500 tons/day should result in an increase in turnover for AMG Peru of approximately €5.5 million per year).
Mr. Luc Gerard declares:
”
Advances in Peru offer prospects for development and increased turnover, due in particular to (i) the start of the “Nancy” exploration project, (ii) the Mining Investment Contract signed with the government and (iii) obtaining financing to increase the production capacity of the “Ana Maria” processing plant on the “Suyckutambo” site from 300 tons to 500 tons per day at count from 1
er
August 2022.
”
AMG in brief
Auplata Mining Group – AMG, incorporated in July 2004 and listed on the Paris Stock Exchange (Euronext Growth) since December 2006, is a polymetallic mining exploration and mining group. AMG is present in French Guiana and, through its subsidiaries, in Peru, Morocco (listed on the Casablanca Stock Exchange) and Côte d’Ivoire. AMG is pursuing a dynamic, sustainable and innovative industrial and financial strategy for the development of high-potential precious and base metal deposits with the involvement of local players. The company’s objective is to produce the metals of tomorrow needed for the energy transition in a clean and responsible way, while trying to provide France with a national source of strategic metals.
ISIN: FR0013410370–ALAMG; ICB: 1777 – Gold Mining.
For more information on Auplata Mining Group: www.auplatamininggroup.com
Contact
FINANCE NEWS
Mathieu Omnes | Investor Relations | +33 (0)1 53 67 36 92 | |
Amaury Dugast | Press relations | +33 (0)1 53 67 36 74 |
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