We’ve been telling our network now north of 500,000 subscribers about Kuya Silver for the past 4 months. Before you read below, remember the following.
- The Real Silver Deficit could be 2 to 3 times deeper than the Silver Institute reports.
- Especially positioned against new demand categories, the embattled Silver Institute ignores
- And their deceptive World Silver Survey does not report.
- The US is now over 81% reliant on foreign Silver.
- Silver use in Hydrogen fuel cell energy could surpass solar use by 2030.
- The looming Silver mining labor shortage with raw material supply chain disruptions will delay bringing new mines into production.
- There have been no significant Silver discoveries this year.
- For every Silver deposit discovered, only 1 or 2 become mines.
- The time taken to develop a discovered deposit into a mine is 15 to 20 years.
- For every 10 producing mines, 2 or 3 will lose money and shut down.
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Toronto, ON, January 8, 2024 – Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (Frankfurt: 6MR1) (the “Company” or “Kuya Silver”) is pleased to announce that it has begun development of the past-producing Bethania silver mine project in Peru, in preparation to commence production later this year. Kuya Silver is pleased to provide this update on current activities and plans to provide further details in the coming months.
Commencing Underground Development
Kuya Silver’s Peruvian subsidiary, Minera Toro de Plata (“MTP”) has commenced an underground development and reconditioning program as an initial step to resume operations at the Bethania silver mine. Initially the program will involve inspecting, reinforcing, updating and improving underground support in several areas required to access future production areas and other critical path underground infrastructure. The sequence of underground development is expected to follow the plan disclosed in Kuya Silver’s Preliminary Economic Assessment report dated October 20, 2023, additional details regarding the development program were provided in Kuya Silver’s news release dated October 10, 2023.
Christian Aramayo, Kuya Silver’s Chief Operating Officer noted: “After making significant progress in the second half of 2023, we are very excited to be launching our mine development program. We see this as an important step, not only to achieve first silver production later this year, but for the longer-term growth of the Bethania district.”
Figure 1: Plan map of the 640 mine level illustrating the status of the existing underground infrastructure which will be a focus for the initial planned reconditioning and development work.
Annual Mine Plan Includes Scope for Underground Drilling
Prior to the end of 2023, MTP completed a mining plan for 2024 and submitted the required documentation to the General Mining Directorate. The plan establishes that mining operations will commence with the reconditioning of existing underground mine workings, and progressively increasing the mining production rate over the year. Although the mine is currently permitted to produce up to 350 tonnes per day, the Company expects the ramp-up period to extend into next year. The mining plan was designed to include underground exploration drilling in the Santa Elena mining concession. MTP also submitted documentation for its annual occupational safety and health program for the 2024 period to OSINERGMIN (the Peruvian regulatory body for the energy and mining sectors).
Kuya Silver Augments Peruvian Team
MTP is pleased to announce the appointment of Juan Espinosa as General Manager for MTP and Finance Manager for Peru. Juan has been awarded a Bachelors degree in economics from Universidad de Lima and a Master of Business Administration from the Maastricht School of Management (Netherlands). Juan’s career has included extensive involvement in the mining industry including other international publicly traded companies with operations in Peru. In addition, Kuya Silver is pleased to promote Alejandra Guillen to Senior Analyst, Procurement and Logistics. Alejandra is an industrial and systems engineer with experience in operations and logistics has been working with Kuya Silver in Peru since December 2021, and will play a key role in the restart of operations.
About Kuya Silver Corporation
Kuya Silver is a Canadian‐based mineral exploration and development company with a focus on acquiring, exploring, and advancing precious metals assets in Peru and Canada.
For more information, please contact:
David Stein, President and Chief Executive Officer
Telephone: (604) 398‐4493
[email protected]
www.kuyasilver.com
The rest of the press release is on the Kuya Silver website.
