Sierra Madre Gold and Silver Ltd. (TSXV: SM | OTCQX: SMDRF) has announced that full commercial production at the 100% owned Guitarra Mine Complex located in Estado de Mexico, Mexico, commenced on 1 January 2025.
The processing plant, underground mine, and all aspects of the operation have now been running at the current capacity of 500 wet metric tonnes per day for the past 90 days. Monthly gold and silver concentrate shipments, concentrate inventories, freshly mined material stockpiles, and revenues generated from sales; have all increased on a material basis.
CEO, Alex Langer, commented, “We are delighted to announce full commercial production at Guitarra. This will allow us to share proper mining statistics; including revenues, costs, profits, and an all in sustaining cost (AISC) per ounce of silver. We very much look forward to sharing this information during our quarterly and annual financials moving forward.”
Additionally, a total of 1,292.5 dry metric tonnes of concentrate were shipped in 2024 with an additional 94.6 tonnes in inventory at 31 December 2024.
Provisional weighted average silver grade of the fiscal 2024 concentrate shipments was 2,594.2g/t, and gold averaged 34.93g/t.
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