here we go
expand the resource, then a PP to finance the new mill
2021-03-18 08:02 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2021) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya") is pleased to announce that it has commenced the Phase 1 drill program at the Bethania Project, located in Central Peru. Kuya has planned to drill 5,000 metres in this Phase 1 program (see Figure 1 for drill plan). The first diamond drill is currently on site with two additional drill rigs arriving in the coming weeks to complete the program.
This initial program will be split into two parts, approximately 4,000 metres are planned for the western third of the property testing all seven veins that make up the historical resource (see the Independent Technical Report on the Bethania Silver Project, dated August 29, 2019 and filed October 1, 2020 under the Company's profile at www.sedar.com). The assays and geotechnical measurements taken from this portion of the drill program will be used to complete the underground mine production plan, including an expansion from 100 tonnes per day to 350 tonnes per day. In addition, Kuya expects to complete a National Instrument 43-101 technical report, including a resource estimate on completion of the drill program.
The remaining 1000 metres will target the Espaola 2 area in this initial phase to confirm the extent of historical mining from the Espaola 2 adit, as well as testing other newly identified veins at surface that may be related to this mineralization. This series of drill holes is to be located approximately 900 metres east of the main adit and could substantially extend the strike length of the Bethania vein system.
Kuya's President and CEO, David Stein stated, "Starting this very exciting drill program is a huge accomplishment for Kuya's team in Peru. Given the recent challenges with COVID-19, our team's ability to assemble the logistics and expertise required for this program has been a significant undertaking. The first phase of the drill program is just the beginning, designed to provide data that will allow us to confirm and complete our underground mine plans as well as to begin to test the depth extension of the veins below the mine workings. Upon completion of this first program, we would look to step out even further along strike and at depth with our next phase of drilling. Internally, we have very aggressive resource growth targets that we will strive to achieve over the coming year."