Toachi Files PEA Technical Report on SEDAR for Its La Mina VMS Project
TORONTO--(BUSINESS WIRE)--Toachi Mining Inc., (“Toachi” or the “Company”) (TSX-V:TIM)(OTCQB:TIMGF) is pleased to announce that it has filed on SEDAR theindependent Preliminary Economic Assessment (“PEA”) Technical Report(“Report”) for the La Mina VMS Project (“Project”) located in theProvince of Cotopaxi, Ecuador. The Report titled “NI 43-101 PreliminaryEconomic Assessment of the La Mina VMS Project, Cotopaxi Province,Ecuador” was prepared for Toachi Mining Inc. by SGS Geological Services/ Services Géologiques SGS pursuant to National Instrument 43-101Standards of Disclosure for Mineral Projects, is dated as of June 14th,2019 and has an effective date of March 30th, 2019.
The PEA results were previously disclosed in the Company’s news releasedated April 30, 2019.
Qualified Persons and NI 43-101 Disclosure
Independent Qualified Person David Orava, P.Eng. of SGS GeologicalServices / Services Géologiques SGS, has supervised the preparation,prepared, revised and approved the technical contents of this newsrelease.
This PEA is preliminary in nature and includes Inferred MineralResources that are too speculative geologically to have economicconsiderations applied to them to be categorized as Mineral Reserves. Mineral Resources are not Mineral Reserves and do not havedemonstrated economic viability.
About Toachi Mining Inc. Toachi brings a disciplined and veteranteam of project managers together with one of the industry’shighest-grade polymetallic projects at the La Mina VMS deposit inEcuador. Toachi is focused on and committed to the development ofadvanced stage mineral projects throughout the Americas using industrybest practices combined with a strong social license from localcommunities.
Forward Looking Statements
Certain statements containedin this news release may constitute “forward-looking information” assuch term is used in applicable Canadian securities laws.Forward-looking information is based on plans, expectations andestimates of management at the date the information is provided and issubject to certain factors and assumptions, including, that theCompany’s financial condition and development plans do not change as aresult of unforeseen events and that the Company obtains regulatoryapproval. Forward-looking information is subject to a variety of risksand uncertainties and other factors that could cause plans, estimatesand actual results to vary materially from those projected in suchforward-looking information. Factors that could cause theforward-looking information in this news release to change or to beinaccurate include, but are not limited to, the risk that any of theassumptions referred to prove not to be valid or reliable, thatoccurrences such as those referred to above are realized and result indelays, or cessation in planned work, that the Company’s financialcondition and development plans change, and delays in regulatoryapproval, as well as the other risks and uncertainties applicable to theCompany as set forth in the Company’s continuous disclosure filingsfiled under the Company’s profile at www.sedar.com.The Company undertakes no obligation to update these forward-lookingstatements, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is deﬁned in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.