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Mar.29.2024 1USD=7.0948RMB
  SteelHome >>Nonferrous Metals>>Market Info>>International Dynamics
 
Santacruz Silver Reports 2019 Annual Production of 2829459 Silver Equivalent Ounces

https://en.steelhome.com [SteelHome] 2020-03-19 14:55:28

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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


(To contact the reporter on this story: jemma.shang@steelhome.cn or 86-555-2238875 18155520624)
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