Santacruz Silver Mining Ltd. (TSXV: SCZ) reports its Q3 2023 production results from its Bolivar mine, Porco mine, Caballo Blanco Group of mines, and the San Lucas feed sourcing business, all located in Bolivia, and the Zimapan mine which is located in Mexico.
Highlights included Q3 2023 metals production of 1.73Moz of silver; 3,370t of lead; 23,095t of zinc; and 252t of copper. The Bolivar mine processed 77,298t of mineralized material and produced 1.34Moz Ag Eq in Q3 2023, a 16% and 40% increase, respectively, when compared to Q2 2023. The Zimapan mine processed 192,158t of material and produced 1.18Moz Ag Eq in Q3 2023, a 12% and 35% increase, respectively, when compared to Q2 2023.
“Our multi-asset portfolio has been able to deliver consistent production so far this year, and in total we have produced almost 17Moz silver equivalent, including just over 5Moz of silver,” said Santacruz Arturo Préstamo, executive chairman and interim CEO.
“While we do expect operations to vary by asset quarter to quarter, our objective is to deliver stable production throughout the year, while at the same time reviewing and streamlining operations.”
Santacruz processed 467,563t of material in Q3 2023, a slight increase from the previous quarter. Silver equivalent ounces produced from the 5.6Moz included 1.73Moz of silver, 3,370t of lead, 23,095t of zinc and 252t of copper. The positive impact of a slight increase in material processed combined with an increase in metal production from the Zimapan and Bolivar mines resulted in stable silver equivalent ounce production overall.
The upgraded water handling infrastructure servicing the higher-grade Central Zone of the Bolivar mine installed last quarter helped stabilize production from this area.
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