Production
Highlights:
l
Total
production reached 2.8 million equivalent ounces of silver, representing a
346% increase over 2018
l
Silver
production reached 787,476 ounces, representing a 249% increase over 2018
l
Ramp
development advanced at Zimapan, Veta Grande and Rosario projects to
support an increase in milling tonnage for 2020 at all three mines.
The
Company produced a total of 2,829,459 silver equivalent ounces in fiscal
2019 (2018 - 634,564) including fourth quarter production of 1,324,303
silver equivalent ounces (2018 -- 196,521). The significant increase in
production is a result of the Company's two-phase acquisition of Carrizal
Mining, S.A de C.V. ("Carrizal") and its rights to operate the
Zimapan Mine. As noted in the Company's news release dated July 2, 2019,
on July 1, 2019 the Company acquired a 50% interest in Carrizal. As a
result, the Company reported 50% of the Zimapan Mine's production in its
Q3 operating results. In addition, as noted in the Company's press release
of October 7, 2019, on October 4, 2019 Santacruz acquired the remaining
50% interest in Carrizal resulting in 100% of the Zimapan Mine production
being incorporated into the Company's Q4 2019 operating results. Further,
as noted in the Company's press release of October 30, 2019, Carrizal has
the right to operate the Zimapan Mine through December 31, 2020 allowing
time for management to work towards finalizing a formal acquisition
agreement with Grupo Penoles, S.A.B de C.V. ("Peñoles").
Carlos
Silva, Santacruz's COO, stated, "Santacruz had a record year in 2019
producing 2.8 million silver equivalent ounces following the successful
acquisition and integration of Carrizal Mining. In addition to this
transformative event, the Veta Grande and Rosario mines increased their
annual production substantially, while at the same time maintaining
significant development activities and advancing exploration plans as a
pathway to keep improving our production at all mines and expanding mine
resources." Mr. Silva continued "I commend all our employees for
their dedication and commitment to keep improving our operations at all
areas, and I am certain that our dedication to safe and reliable
operations will be a cornerstone of further improvements throughout
2020".
Consolidated
Production Results -- 2019 Q4 and 2019 Annual
|
2019 Q4
|
2018 Q4
|
2019Yr
|
2018 Yr
|
Material Processed (tonnes milled)
|
220,154
|
53,396
|
469,290
|
211,465
|
Silver eqv. ounce production
|
1,324,303
|
196,521
|
2,829,459
|
634,564
|
Silver production (ounces)
|
345,314
|
62,537
|
787,476
|
187,871
|
Gold production (ounces)
|
280
|
248
|
965
|
677
|
Lead production (tonnes)
|
1,060
|
279
|
2,527
|
697
|
Zinc production (tonnes)
|
3,504
|
451
|
7,382
|
1534
|
Copper production (tonnes)
|
482
|
0
|
798
|
0
|
Average Head Grade (g/t Ag Eqv.)
|
278
|
226
|
274
|
193
|
Zimapan
Project Production Results -- 2019 Q4 and 2019 Annual
|
2019 Q4
|
2018 Q4
|
2019 Yr
|
2018 Yr
|
Material Processed (tonnes milled)
|
161,071
|
-
|
243,313
|
-
|
Silver eqv. ounce production
|
996,032
|
-
|
1,602,621
|
-
|
Silver production (ounces)
|
248,593
|
-
|
400,057
|
-
|
Silver head grade (g/t)
|
72
|
-
|
73
|
-
|
Silver recovery (%)
|
66.4
|
-
|
69.9
|
-
|
Gold production (ounces)
|
0
|
-
|
0
|
-
|
Lead production (tonnes)
|
695
|
-
|
1,158
|
-
|
Zinc production (tonnes)
|
2,591
|
-
|
4,083
|
-
|
Copper production (tonnes)
|
482
|
-
|
798
|
-
|
Average Head Grade (g/t Ag Eqv.)
|
282
|
-
|
284
|
-
|
Development (metres)
|
838
|
-
|
1,241
|
-
|
Veta
Grande Project Production Results -- 2019 Q4 and 2019 Annual
|
2019 Q4
|
2018 Q4
|
2019 Yr
|
2018 Yr
|
Material Processed (tonnes milled)
|
36,111
|
36,720
|
149,890
|
150,281
|
Silver eqv. ounce production
|
193,748
|
128,985
|
761,262
|
317,725
|
Silver production (ounces)
|
53,615
|
42,217
|
237,731
|
80,486
|
Silver head grade (g/t)
|
102
|
84
|
105
|
73
|
Silver recovery (%)
|
45.1
|
44.2
|
47.1
|
42.9
|
Gold production (ounces)
|
116
|
84
|
457
|
298
|
Lead production (tonnes)
|
277
|
237
|
1,082
|
542
|
Zinc production (tonnes)
|
534
|
283
|
1,949
|
533
|
Copper production (tonnes)
|
|
0
|
0
|
0
|
Average Head Grade (g/t Ag Eqv.)
|
297
|
255
|
286
|
196
|
Development (metres)
|
665
|
1,112
|
3,389
|
4,139
|
Rosario
Project Production Results -- 2019 Q4 and 2019 Annual
|
2019 Q4
|
2018 Q4
|
2019 Yr
|
2018 Yr
|
Material Processed (tonnes milled)
|
22,972
|
16,676
|
76,088
|
61,184
|
Silver eqv. ounce production
|
134,523
|
67,536
|
465,576
|
316,839
|
Silver production (ounces)
|
43,106
|
20,320
|
149,687
|
76,374
|
Silver head grade (g/t)
|
64
|
42
|
65
|
42
|
Silver recovery (%)
|
90.6
|
89.9
|
93.4
|
86.3
|
Gold production (ounces)
|
163
|
164
|
508
|
3790
|
Lead production (tonnes)
|
87
|
41
|
287
|
155
|
Zinc production (tonnes) )
|
379
|
168
|
1,350
|
1,001
|
Copper production (tonnes)
|
0
|
0
|
0
|
0
|
Average Head Grade (g/t Ag Eqv.)
|
214
|
161
|
218
|
180
|
Development (metres)
|
796
|
693
|
3,224
|
2,207
|
Source:
Santacruz
Silver
|