Peruvian Metals Announces Third Quarter Production at the Aguila Norte Processing Plant and Provides Sampling Update from the Tailings Area
New drying areas are the first priority for planned tailings reprocessing, which the company expects to produce gold-silver concentrates for sale.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Peruvian Metals (DUVNF) processed 9,065 metric tonnes in the third quarter of 2026 at its 80%-owned Aguila Norte plant.
Output fell 4.5% from 9,494 tonnes a year earlier. The plant reached full capacity in nine of the previous ten quarters. The company remains on track for full capacity in 2026 and to match or exceed 2025 production of 36,616 tonnes.
Twenty dry-area tailings samples returned 2.4 grams of gold and 90 grams of silver per tonne. A separate composite sample yielded gold and silver recoveries of 93% and 87%, respectively, in metallurgical testing. Planned hand-auger sampling will support tailings reprocessing plans required by the Ministry of Mines; wet areas must dry before sampling expands into them.
The company plans higher production in Q2 2027, is reviewing plant expansion and national-grid connection proposals, and expects Palta Dorada gold-silver concentrate production in Q4 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointPlant utilization reached full production capacity in nine of the previous ten quarters.
- Moderate point. Forward-looking: it has not happened yet and may not happen.The company targets full capacity in 2026 and matching or exceeding 2025 output of 36,616 tonnes.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Palta Dorada gold-silver concentrate production is expected in Q4 2026.
- Minor pointTwenty dry-area tailings samples returned 2.4 grams gold and 90 grams silver per metric tonne.
- Minor pointTailings grades ranged from 1.34–3.93 grams gold/tonne and 1.24–4.37 ounces silver/tonne.
4 minor points
- Minor pointComposite metallurgical testing achieved 93% gold and 87% silver recovery.
- Minor point. Forward-looking: it has not happened yet and may not happen.The company plans expanded production levels in Q2 2027, prioritizing new drying areas.
- Minor pointPlant expansion and national energy-grid connection proposals are under review.
- Minor point. Forward-looking: it has not happened yet and may not happen.Tailings reprocessing is expected to produce gold-silver concentrates for sale.
Negative
- Moderate pointThird-quarter 2026 throughput declined 4.5% to 9,065 metric tonnes from 9,494 tonnes in Q3 2025.
- Minor point. Forward-looking: it has not happened yet and may not happen.Auger sampling expansion into wet tailings areas depends on those areas drying.
- Minor point. Forward-looking: it has not happened yet and may not happen.Ministry-required tailings reprocessing documentation is being prepared; findings will be presented after sampling is complete.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Edmonton, Alberta--(Newsfile Corp. - October 1, 2026) - Peruvian Metals Corp (TSXV: PER) (OTCQB: DUVNF) ("Peruvian Metals" or the "Company") announces third quarter production results and the start of a detailed auger drilling program on the tailings area at its 80-per-cent-owned Aguila Norte processing plant ("Aguila Norte" or the "Plant") located in Northern Peru.
During the third quarter of 2026, the Plant processed a total of 9,065 metric tonnes ("mt"). The Plant has achieved full production capacity for 9 of the previous 10 quarters. Production levels showed a very slight decrease of
The Company announced on September 9, 2026, new sample results from the tailings area showing the presence of significant gold ("Au") and silver ("Ag") in the tailings. As previously announced, twenty samples were taken from a dry area within the tailings area and returned 2.4 grams Au/mt and 90 grams Ag/mt. At the current Au and Ag prices of
The Company plans to further sample the tailings area by using hand augers capable of collecting samples at 8 to 10 metre depths. Initially the hand auger program will only focus on dry areas and will be expanded into current wet areas once dried. Auger holes will be spaced 10 metres apart and sampled at 1 metre intervals. The auger sampling will aid the Company in designing and planning the reprocessing of the tailings area required by Ministry of Mines. The Company is currently preparing the required documents and will present the findings when the sampling program is complete.
As previously announced, a composite sample was collected within the sampled area for metallurgical test work. The head grade of the metallurgical sample assayed 1.76 grams Au/mt and 75 grams Ag/mt. Results confirmed the high recoveries of gold and silver at 93 per cent and 87 per cent, respectively. The lead and zinc content is determined to be insignificant so that any future processing would only focus on recovering the gold-silver.
Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, commented: "We are on track for another year at full capacity production. We are planning to expand the production levels for the second quarter of 2027. New drying areas are the first priorities as the reprocessing of tailings material will produce significant amounts of Au-Ag concentrates for sale. The Company is also expecting to produce Au-Ag concentrates from Palta Dorada during the fourth quarter of 2026.
Qualified Person
Jeffrey Reeder, P. Geo., is the Qualified Person, as defined in National Instrument 43-101, who has reviewed and approved the technical contents of this release. The metallurgical work was performed by Jose Orlando Moncada Rejas, Ing, who is the main metallurgist at the Aguila Norte plant owned by the company. Assaying of the tailings material was performed by Procesmin Ingenieros SRL, located in Caraz Ancash, by fire assay for gold-silver.
About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model is to provide clients with toll milling services and produce high-grade marketable concentrates from mineral purchases. The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Company with the ability to expand operations past the current 100 tonnes per day level. The Management and Directors have been operating successfully in Peru for over 30 years and the Company continues to acquire and develop precious and base metal properties in Peru. Peruvian Metals has a history of timely transactions that have added long term value for shareholders.
ON BEHALF OF PERUVIAN METALS
CORP.
(Signed) Jeffrey Reeder
For additional information, contact:
Jeffrey Reeder, C.E.O.
Telephone: (647) 302-3290
Email: jeffrey.reeder@peruvianmetals.com
Neither the 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.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca.While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions, and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316893
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much material did Peruvian Metals process at Aguila Norte in Q3 2026?
Aguila Norte processed 9,065 metric tonnes in Q3 2026, down 4.5% from 9,494 metric tonnes in Q3 2025. Peruvian Metals owns 80% of the plant.
What gold and silver recoveries did Peruvian Metals report from Aguila Norte tailings testing?
Metallurgical testing achieved 93% gold recovery and 87% silver recovery. The composite sample had a head grade—the metal content before processing—of 1.76 grams gold and 75 grams silver per metric tonne. Lead and zinc content was insignificant, so future processing would focus only on gold and silver.
How will Peruvian Metals sample the Aguila Norte tailings?
The company plans hand-auger sampling capable of reaching 8 to 10 metres deep, with holes spaced 10 metres apart and samples collected at 1 metre intervals. Sampling will initially cover dry areas and expand into wet areas once they dry.