11:48 AM EST - Sierra Metals Inc. : announced the discovery of a new high-grade sulfide zone, referred to as the "Esperanza" zone, located 400 metres north of the central mine area, along strike from current mining activities. The discovery comes as part of ongoing drill testing of priority targets at its Yauricocha Mine located 150km east southeast of Lima in the Yauricocha Mining District (Cordillera Occidental), Peru. The Esperanza zone has returned the thickest sulfide intercepts in the 60-year mining history at Yauricocha. Hole ESP-14 returned a length weighted average of 3.2% Cu, 1.7% Zn, 0.4% Pb, 1.01 gpt Au, 48.5 gpt Ag over 69.2 metres, hole ESP-15 returned a length weighted average of 1.8% Cu, 3.2% Zn, 1.4% Pb, 0.32 gpt Au, 61.5 gpt Ag over 70.0 metres and hole ESP-10 returned a length weighted average of 1.1% Cu, 4.9% Zn, 2.2% Pb, 0.25 gpt Au, 61.2 gpt Ag over 70.6 metres. Sierra Metals Inc.
shares T.SMT are trading up $0.12 at $1.09.
