07:17 AM EDT, 05/31/2018 (MT Newswires) -- GREAT PANTHER SILVER LIMITED (GPR.TO, GPL) reported Wednesday the results of the Preliminary Economic Assessment for its 100% owned Coricancha gold-silver-lead-zinc-copper underground mine and mill complex. It said the PEA will be filed on SEDAR and EDGAR within 45 days of this news release.

"We are very pleased with the results of the Coricancha PEA as it confirms the potential for average annual production of three million silver-equivalent ounces and estimates an after-tax internal rate of return in excess of 80%, with low capital costs," said James Bannantine, President and CEO. "We look forward to advancing Coricancha by building on the PEA and gaining a better understanding of the potential of the project as we begin preparations for full-scale mining and milling."

With the PEA completed, Great Panther said it has decided to advance the project with the initiation of a trial stope and bulk sample program early in the third quarter of this year to further de-risk the project. It added the objective of the Bulk Sample Program is to provide confirmation of expectations regarding throughput, grades, and recoveries.

Coricancha is located approximately 90 kilometres east of Lima, Peru, and was acquired by Great Panther in June 2017. Coricancha has a 600 tonne per day processing plant and is fully permitted for production. Production was suspended at Coricancha in 2013 by the previous owner.

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