Hillway Metals Boosts Gold Reserves 78% in Ecuador Mine

Hillway Metals Mining (SVM.US) has announced an updated resource estimate report for its Condor gold mine project in Ecuador. The report, prepared by SRK Consulting (Canada) according to the NI 43-101 standard, focuses on two underground high-grade ore bodies and two open-pit mining ore bodies. The total resource estimate includes 69 tons of gold, 699 tons of silver, and 210,000 tons of zinc.

The underground high-grade ore bodies, Camp and Los Cuyes, contain 53.6 tons of gold with an average grade of 3.51 grams per ton, totaling 15.23 million tons of ore. Additionally, these ore bodies contain 328 tons of silver with an average grade of 21.5 grams per ton and 115,000 tons of zinc with an average grade of 0.75%. The resource quantity is substantial, and the metallurgical test results are favorable, with a high gold recovery rate. The open-pit mining ore bodies, Soledad and Enma, contain 15.4 tons of gold, 371 tons of silver with an average grade of 20.3 grams per ton, and 95,000 tons of zinc with an average grade of 0.52%.

This update to the resource estimate signifies a significant increase in Hillway's resource reserves, achieving diversification and cross-border allocation. This enhancement will strengthen Hillway's ability to sustain production and generate revenue in the future, further consolidating its competitive advantage in the mining sector.

In addition, Hillway plans to conduct over 10 drill holes totaling 3,500 meters of surface drilling at the Los Cuyes and Camp ore bodies in May. This drilling program aims to verify the exploration potential of the target areas identified by the company. Hillway intends to release a preliminary economic assessment (PEA) report for underground mining by the end of 2025. This report will further optimize resource allocation, enhance corporate value, and achieve long-term stable development.