Additionally, the exploration drilling in the Bolivar NW area, which is located 400m northwest of the Alta Ley mine, has enabled the company find a mineralized zone within the previous resource or reserve calculations done by Gustavson.
The Gallo Superior Magnetita ore body is 20m thick and 200x150m wide. The ore processed at the site had average copper grades 12% greater than indicated in the resource estimation.
Sierra Metals CEO and president Daniel Tellechea said the development of Gallo Superior Magnetita is important and is part of their plan to achieve production of 2,500 tons per day in 2015.
"The El Gallo orebodies contain significant tonnage and are hosted in thick mantos that allow us to mine large volumes on a daily basis. Going forward, we expect to have significant growth in production at Bolivar as underground development advances," Tellechea added.
"In addition, our exploration results, especially at Bolivar Northwest, support our geologists’ interpretation that the overall Bolivar area is extensively mineralized and more discoveries are expected in the future."
