Berenguela is a wholly owned project located in south-central Peru in the Department of Puno, approximately 50 kilometers west of the provincial city of Juliaca. The property is accessible year round, with a major paved highway and a main-line railway crossing the southern claims of the property. Berenguela is a potentially bulk-minable silver – copper – manganese project.
An NI 43-101 Technical Report on the Berenguela property was prepared in October 2005. Highlights of the Project include the following:
- Mineral resources: Indicated Mineral Resources of 15.6 million tonnes at an average grade of 132.0 g/t silver and 0.92% copper with contained silver of 66.1 million ounces. Inferred Mineral Resources of 6.0 million tonnes at an average grade of 111.7 g/t silver and 0.74% copper with contained silver of 21.6 million ounces.
- 2004 and 2005 Drilling program: In 2004 and 2005, Silver Standard completed an RC drilling program with the objective of delineating the mineralization of the Berenguela deposit. The program determined that the deposit lies along a ridge within 100 meters of surface and is approximately 1,500 meters in length and up to 500 meters wide.
- 2010 Scoping study: A scoping study for a mining-milling operation at Berenguela was prepared in 2010. The study proposes the recovery of silver by conventional cyanide leaching followed by the Merrill-Crowe process, the recovery of copper by direct electro-winning and cementation, and the recovery of manganese dioxide by electro-winning. Two mining scenarios were evaluated, one based on a 4,000 tonnes per day operation and another at 1,000 tonnes per day.
Jeremy D. Vincent, B.Sc. (Hons), P.Geo., a Qualified Person as defined in NI 43-101, has approved the foregoing disclosure on the Berenguela Project. Please refer to the technical report entitled "Technical Report on the Berenguela Property" dated October 4, 2005, a link to which is provided above.
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