The Tangana Mining Unit lies within the Nueva Recuperada project (the “Project”) located within the Huachacolpa Mining District, Huancavelica, Peru, 479 km to the southeast of Lima. Nueva Recuperada is accessible by road from Lima. The Company’s assets include 230 mining concessions covering 20,472 hectares. Silver X acquired the Project through consolidation of various mining concessions from Buenaventura, Pan American Silver and Peruvian Metals.
Nueva Recuperada lies within an historic mining area, where mining has taken place since the 16th century. The Project has the complete support of the local communities. Community members have offered open-hearted assistance in developing any type of mining activities in the area.
The plant has been in operation for 60 years. Historic production accounts for approximately 200 million ounces of silver equivalent within a 30 km radius. The project was placed on care and maintenance in 2014. Silver X commenced production in 2022 and today is in a ramp up towards nameplate capacity of 720 tpd at the Nueva Recuperada processing plant is ongoing.