Santacruz Silver Mining Ltd. (TSXV: SCZ) has reported its Q4 and annual 2023 production results from its Bolivar, Porco, and Caballo Blanco Group mines along with the San Lucas feed sourcing business, which are all located in Bolivia; and the Zimapan mine in Mexico.
“Our team’s dedication enabled us to achieve steady quarterly operations, which resulted in 5.7Moz Ag Eq produced in Q4, and 22.6Moz Ag Eq produced in 2023. The improved production results in Q4 at the Zimapan mine are a direct result of the comprehensive management and operational restructuring carried out in September and October,” commented Santacruz Interim CEO Arturo Préstamo.
“The objective of this restructuring process was to enhance production tonnage and operational efficiency across both mines and the mill. Further efficiencies are expected to be captured in Q1 2024.”
Santacruz processed 489,417t of material in Q4 2023, a 5% increase from Q3. Silver equivalent ounce production increased 2% to 5.76Moz including 1.72Moz of Ag, 23.8Kt of Zn, 3,129t of Pb, and 290t of Cu.
While average throughputs, head grades, and recoveries varied slightly across all operations, the increase in material processed at Zimapan, and increases in mineralized material purchased by San Lucas, drove consistent metal production quarter-on-quarter.
At Zimapan, major maintenance to the grinding circuit allowed for increased plant throughput. In addition, two new underground loaders which arrived at the mine in September, enabling more efficient mining operations. As a result, the mine processed 204,507t of material, a 6% increase when compared to the previous quarter.
Préstamo continued, “Complementing our successes…, the Caballo Blanco Group of mines just achieved a significant milestone with the completion of the integration ramp connecting the Tres Amigos and Colquechaquita mines on time and on budget. The 1,177m ramp was designed to facilitate increased productivity and safety at both the Colquechaquita and Tres Amigos mines and is expected to contribute to overall production improvements at Caballo Blanco.”
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