VANCOUVER, Sept. 25, 2013 /CNW/ – Bear Creek Mining (TSX Venture: BCM / BVL: BCM) (“Bear Creek” or the “Company”) is pleased to announce that the Peruvian Ministry of Energy and Mines (“MEM”) has approved the Environmental and Social Impact Assessment (“ESIA”) for the Corani silver- lead-zinc project located in southern Peru.
Corani represents a rare asset class containing 270 million ounces of silver and 4.8 billion pounds of combined lead and zinc which is forecasted to produce over 13 million ounces of silver/year at a negative cost of $0.45 per ounce of silver, net of by-product credits, for the first 5 years of a 22 year mine life. Subsequent steps in the advancement of the Corani project are intended to include detailed engineering followed by construction permits flowing from the ESIA.
Cautionary Note regarding Technical and Scientific Disclosure and Forward-Looking Statements:
All of Bear Creek’s exploration programs and pertinent disclosure of a technical or scientific nature are prepared by or prepared under the direct supervision of Andrew Swarthout, P.Geo., CEO, who serves as the Qualified Person under the definitions of NI 43-101. The block model estimate, mine design and schedules were prepared by Independent Mining Consultants of Tucson Arizona. John Marek P.E. acted as the independent qualified person as defined by Canada’s National Instrument 43-101. Additionally the methods used in determining and reporting the mineral reserves and resources are consistent with the CIM Best Practices Guidelines. The method used in the resource calculation is equivalent to the method used in the resource calculation shown in our August 23, 2006 Press Release. For this resource estimate we have used metal prices based on a 3-year backward average and a 2-year forward price based on the metal markets in August 2011.