The acquisition includes inferred resources of 42,303oz gold and potential integration with the nearby Tangana mine.
Silver X Mining has completed the purchase of the Lily 19 mining concession, securing full ownership of the Ccasahuasi gold project in Peru for $30,000 in staged payments and a net smelter return royalty. The deal follows an agreement with Barrick Mining and includes inferred mineral resources of 1.41 million tonnes grading 0.936 g/t gold, totaling 42,303 ounces.
The resource was identified through 903.5m of diamond drilling, with three of four holes yielding gold intercepts exceeding 26m at grades above 0.7 g/t. The project, located 1km from Silver X’s operating Tangana mine, remains untested at depth and along strike, offering potential for expanded production.
Silver X stated that further drilling could confirm extensions of the mineralized system toward Tangana, enabling additional gold processing through existing infrastructure. The company plans further evaluation and capital planning to assess integration feasibility.