# Peruvian Metals Reports: Silver - Gold Recoveries of 97.85 % and 92.19% Respectively from the Victor II Vein at the Mercedes Ag-Au Property in Central Peru

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/peruvian-metals-reports-silver-gold-recoveries-of-97-85-and-92-19-respectively-f--618fae9e-cb30-4a7c-be00-dc03ed754fc8

Original source: https://money.tmx.com/en/quote/PER/news/5084489203757032/peruvian-metals-reports-silver-gold-recoveries-of-97-85-and-92-19-respectively-f

Publisher: tmx

Original announcement: 2026-01-23T12:31:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Peruvian Metals Corp.

- Ticker: PER

- Exchange: TSX

- Region: Central Peru

- Primary commodity: Silver

- Secondary commodities: Gold, Lead

- Document categories: Metallurgy

- Extracted: 2026-09-12 18:57:19 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Peruvian Metals Corp. has reported successful metallurgical flotation test results from the Mercedes property in Peru. The Victor II vein yielded exceptional silver \(97.85%\) and gold \(92.19%\) recoveries, while the Charo vein showed high silver \(92.3%\) but lower gold \(74.7%\) recoveries.

Reasoning: The metallurgical results demonstrate very high silver and gold recoveries from the Victor II vein using flotation, which is a significant de-risking step for the project's development.

- Positive factor: High silver recovery \(97.85%\)

- Positive factor: Strong gold recovery \(92.19%\)

- Positive factor: High-grade concentrate produced

- Positive factor: QP/CP sign-off provided

- Negative factor: Lower gold recovery on Charo vein \(74.7%\)

- Negative factor: Presence of lead in concentrates

Facts used in scoring: 4

## Classification and evidence

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: Silver recovery of 97.85% is exceptional for flotation.

Evidence · text

> Silver-Gold recoveries returned 97.85% and 92.19% respectfully.

**QP/CP Signed**

Polarity: positive

Story-specific tag

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: Jeffrey Reeder, P.Geo, is identified as a qualified person who prepared and approved the disclosure.

Evidence · text

> Jeffrey Reeder, P.Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation and approved the scientific and technical disclosure

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: The metallurgical work used flotation methods.

Evidence · text

> Metallurgical results using flotation methods produced a concentrate

**Single Domain Only**

Polarity: negative

Definition: Testing limited to one composite or domain — representativeness not established.

Why it applies: only one composite was tested

## Extracted facts

Stored fact records: 4. Some facts used in scoring do not have a stored record.

## Metallurgical Results (4)

### flotation

[Link to this fact](https://atlas-extractions.minestarters.com/news/peruvian-metals-reports-silver-gold-recoveries-of-97-85-and-92-19-respectively-f--618fae9e-cb30-4a7c-be00-dc03ed754fc8#fact-metallurgical-facts-0)

Mercedes · silver

#### Identity

- Project: Mercedes
- Commodity: silver
- Region: peru
- Reported Region: Central Peru
- Ticker: PER

#### Test Work

- Program Status: optimization
- Test Type: flotation
- Processing Route: flotation
- Sample: One large composite sample over several tens of meters in the Victor II workings

#### Recovery

- Recovery: 97.85 %
- Recovery Basis: actual\_test
- Head Grade: 9.4
- Head Grade Unit: ounces Ag/mt
- Conc. Grade: 33.03
- Conc. Grade Unit: ounces Ag/mt

#### Lab

- Laboratory: Procesmin Ingenieros SRL

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-01-23T00:00:00.000Z

Reasoning: 97.85% silver recovery is exceptional for flotation.

- Positive factor: Exceptional silver recovery

Evidence · text

> Silver-Gold recoveries returned 97.85% and 92.19% respectfully.

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the flotation signal

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: 97.85% is at or above the exceptional band \(90%\)

### flotation

[Link to this fact](https://atlas-extractions.minestarters.com/news/peruvian-metals-reports-silver-gold-recoveries-of-97-85-and-92-19-respectively-f--618fae9e-cb30-4a7c-be00-dc03ed754fc8#fact-metallurgical-facts-1)

Mercedes · gold

#### Identity

- Project: Mercedes
- Commodity: gold
- Region: peru
- Reported Region: Central Peru
- Ticker: PER

#### Test Work

- Program Status: optimization
- Test Type: flotation
- Processing Route: flotation
- Sample: One large composite sample over several tens of meters in the Victor II workings

#### Recovery

- Recovery: 92.19 %
- Recovery Basis: actual\_test
- Head Grade: 3.69
- Head Grade Unit: grams Au/mt
- Conc. Grade: 12.23
- Conc. Grade Unit: grams Au/mt

#### Lab

- Laboratory: Procesmin Ingenieros SRL

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-01-23T00:00:00.000Z

Reasoning: 92.19% gold recovery is very strong for flotation.

- Positive factor: Strong gold recovery

Evidence · text

> Silver-Gold recoveries returned 97.85% and 92.19% respectfully.

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the flotation signal

### flotation

[Link to this fact](https://atlas-extractions.minestarters.com/news/peruvian-metals-reports-silver-gold-recoveries-of-97-85-and-92-19-respectively-f--618fae9e-cb30-4a7c-be00-dc03ed754fc8#fact-metallurgical-facts-2)

Mercedes · silver

#### Identity

- Project: Mercedes
- Commodity: silver
- Region: peru
- Reported Region: Central Peru
- Ticker: PER

#### Test Work

- Program Status: optimization
- Test Type: flotation
- Processing Route: flotation
- Sample: One large composite sample taken over the length of vein in the Charo Vein

#### Recovery

- Recovery: 92.3 %
- Recovery Basis: actual\_test
- Head Grade: 6.1
- Head Grade Unit: ounces Ag/mt
- Conc. Grade: 48.42
- Conc. Grade Unit: ounces Ag/mt

#### Lab

- Laboratory: Procesmin Ingenieros SRL

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-01-23T00:00:00.000Z

Reasoning: 92.3% silver recovery is strong.

- Positive factor: High silver recovery

Evidence · text

> Silver-Gold recoveries returned 92.3% Ag and 74.7% Au.

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the flotation signal

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: 92.3% is at or above the exceptional band \(90%\)

### flotation

[Link to this fact](https://atlas-extractions.minestarters.com/news/peruvian-metals-reports-silver-gold-recoveries-of-97-85-and-92-19-respectively-f--618fae9e-cb30-4a7c-be00-dc03ed754fc8#fact-metallurgical-facts-3)

Mercedes · gold

#### Identity

- Project: Mercedes
- Commodity: gold
- Region: peru
- Reported Region: Central Peru
- Ticker: PER

#### Test Work

- Program Status: optimization
- Test Type: flotation
- Processing Route: flotation
- Sample: One large composite sample taken over the length of vein in the Charo Vein

#### Recovery

- Recovery: 74.7 %
- Recovery Basis: actual\_test
- Head Grade: 0.63
- Head Grade Unit: grams Au/mt
- Conc. Grade: 4.01
- Conc. Grade Unit: grams Au/mt

#### Lab

- Laboratory: Procesmin Ingenieros SRL

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-01-23T00:00:00.000Z

Reasoning: 74.7% gold recovery is moderate/weak for flotation.

- Negative factor: Relatively low gold recovery

Evidence · text

> Silver-Gold recoveries returned 92.3% Ag and 74.7% Au.

#### Tags used in scoring

**Mill Route**

Polarity: neutral

Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\).

Why it applies: processing\_route matches the flotation signal

**Low Recovery**

Polarity: negative

Definition: Recovery below the weak band for the commodity and processing route.

Why it applies: 74.7% is below the weak band \(80%\)

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.