Core Insights - Peruvian Metals Corp. has made significant progress in 2025 and plans for exploration and development in 2026 on the Mercedes Silver-Gold property, having completed its acquisition of a 50% interest in San Maurizo Mines Ltd. [1][9] - Recent metallurgical results indicate high recoveries of silver and gold, with a focus on producing a single concentrate rich in these metals [4][9]. Group 1: Property and Location - The Mercedes property is located in the Junin Department of central Peru, covering approximately 1,345 hectares and is accessible via a well-maintained gravel road [2]. - Historical underground workings at Mercedes include approximately 900 meters of horizontal drifts and shafts, with over 15 identified mineralized structures [3]. Group 2: Metallurgical Results - A composite sample from the Victor II workings returned a head grade of 3.69 grams Au/mt and 9.4 ounces Ag/mt, with flotation methods achieving silver and gold recoveries of 97.85% and 92.19%, respectively [5]. - The Charo Vein, a newly located mineralized structure, showed assays averaging 1.33 grams Au/mt and 14.83 ounces Ag/mt, with metallurgical results indicating recoveries of 92.3% Ag and 74.7% Au [5]. Group 3: Development Plans - The company has secured access agreements with the local community and established a camp, with plans to start mineral extraction from the Victor II and Charo Veins in early 2026 [6]. - A 225-meter crosscut will be developed to access multiple mineralized faces and establish underground drill sites, with processing to occur at a local toll mill [6]. Group 4: Management and Expertise - The project will continue to be managed by experienced professionals, including Eric Hinton and Jeff Reeder, who bring extensive mining experience [7][8]. - Peruvian Metals will provide administrative, accounting, permitting, and geological services to support the project [8].