NUEVA RECUPERADA SILVER DISTRICT

Located in the heart of Peru’s premier silver belt in the province of Huancavelica, in central Peru.

Nueva Recuperada was one of Buenaventura’s historic mines. Latitude Silver (now Silver X) acquired the project in 2017, including the Recuperada mine and the 600 tpd fully-permitted processing facility.

- NI 43-101 report from 2019: ~7 mt of inferred resource
- 15,000 ha within the Huachocolpa mining district
- Open at depth with known resource just below surface
- 25,000 metre drill campaign underway to expand resource and convert inferred to measured and indicated, while developing the mine
- Full commercial production expected to start in 2022

On October 2021, Silver X announced it had secured the environmental permitting approval required to  increase  production  capacity  at the Nueva Recuperada polymetallic concentrate plant to 720 tonnes per day. Installation of a new crushing circuit and flotation cells has commenced, and the
company expects full commissioning by the end of the year. Once completed, this will represent a 20% increase in processing capacity at Nueva Recuperada and any additional concentrate sales from this increase are expected to drive further cashflow for the company.