$PER.V

Peruvian Metals Starts Underground Development at Palta Dorada in Peru

Peruvian Metals (PER.V) started underground development at its Palta Dorada gold and silver property in northern Peru, it said Tuesday.The company bought the needed equipment and reconditioned the generator and an industrial winch for this work to start immediately, it said. Peruvian Metals plans to extend the main access on the 883-meter elevation level to a distance of 350 meters, once mineral processing starts.The shaft will be extended downward to intersect the main drift, once completed. Part of the future development will also establish underground drill stations to test the San Juan Vein at depth, it said.Shares of the company closed down CA$0.005, or 3.5%, to CA$0.14 on Monday on the TSX Venture Exchange.