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 the independent Preliminary Economic Assessment (“PEA”) Technical Report (“Report”) for the La Mina VMS Project (“Project”) located in the Province of Cotopaxi, Ecuador. The Report titled “NI 43-101 Preliminary Economic 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 43-101 Standards 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 release dated April 30, 2019.
Qualified Persons and NI 43-101 Disclosure
Independent Qualified Person David Orava, P.Eng. of SGS Geological Services / Services Géologiques SGS, has supervised the preparation, prepared, revised and approved the technical contents of this news release.
This PEA is preliminary in nature and includes Inferred Mineral Resources that are too speculative geologically to have economic considerations applied to them to be categorized as Mineral Reserves. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
About Toachi Mining Inc. Toachi brings a disciplined and veteran team of project managers together with one of the industry’s highest-grade polymetallic projects at the La Mina VMS deposit in Ecuador. Toachi is focused on and committed to the development of advanced stage mineral projects throughout the Americas using industry best practices combined with a strong social license from local communities.
Forward Looking Statements
Certain statements contained in this news release may constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company’s continuous disclosure filings filed under the Company’s profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is deﬁned in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.