SilverCrest Announces Q1 Production; 201,101 Ounces Silver and 7,545 Ounces Gold
15 Abril 2014 - 9:23AM
Marketwired
SilverCrest Announces Q1 Production; 201,101 Ounces Silver and
7,545 Ounces Gold
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 15, 2014) -
SilverCrest Mines Inc. (NYSEMKT:SVLC)(TSX:SVL) (the "Company") is
pleased to announce silver and gold production numbers for the
first quarter of 2014 from its 100% owned Santa Elena Mine located
in Sonora, Mexico. For additional information and to view photos
and videos, please visit the Company's website at
www.silvercrestmines.com.
Production Highlights
of Q1, 2014 vs. Q1, 2013;
- Silver production of 201,101 ounces; a 31% increase.
- Gold production of 7,545 ounces; a 4% increase.
- Silver equivalent(1) production of 653,801 ounces; a 17%
increase.
- Waste to ore ratio of 0.94 was consistent with the mine plan; a
78% decrease.
- Ore Tonnes crushed decreased 21% to 200,982 tonnes with
throughput averaging 2,233 tpd.
- Average grades loaded on pad increased from 62.1gpt to 86.8 gpt
(40%) for silver and from 1.54 to 1.79 gpt (16%) for gold.
N. Eric Fier, President and COO stated; "During the first three
months of 2014, Santa Elena experienced lower ore and waste tonnes
mined from the open pit as it approached the end of its mine life.
However, metal production exceeded corporate guidance projections
for the quarter. The Company continues to focus on the completion
stages of the Santa Elena Expansion Plan which should significantly
increase our annual precious metal production starting in mid-2014.
The recently announced pit closure at Santa Elena may have some
impact on Q2 production but SilverCrest maintains the previously
announced 2014 corporate production guidance of 3.3 to 3.6 million
ounces AgEq (60:1)."
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Santa Elena Mine Operating Statistics: |
Q1 2014 |
Q1 2013 |
% Change |
|
Q4 2013 |
% Change |
Silver ounces produced |
201,101 |
153,481 |
31% |
|
228,787 |
-12% |
Gold ounces produced |
7,545 |
7,225 |
4% |
|
9,218 |
-18% |
AgEq ounces produced (1) |
653,801 |
556,667 |
17% |
|
796,751 |
-18% |
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Silver ounces sold |
198,800 |
157,088 |
27% |
|
208,200 |
-5% |
Gold ounces sold |
7,650 |
7,370 |
4% |
|
8,220 |
-7% |
AgEq ounces sold (1) |
657,800 |
568,380 |
16% |
|
714,678 |
-8% |
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Tonnes Ore |
161,879 |
257,726 |
-37% |
|
248,725 |
-35% |
Tonnes waste |
151,695 |
1,100,362 |
-86% |
|
405,616 |
-63% |
Waste / ore ratio |
0.94 |
4.27 |
-78% |
|
1.63 |
-43% |
Ore tonnes crushed |
200,982 |
252,830 |
-21% |
|
263,097 |
-24% |
Average ore tonnes crushed per day |
2,233 |
2,809 |
-21% |
|
2,860 |
-22% |
Average silver ore grade (gpt) loaded on pad |
86.89 |
62.09 |
40% |
|
81.58 |
7% |
Average gold ore grade (gpt) loaded on pad |
1.79 |
1.54 |
16% |
|
1.82 |
-2% |
Silver ounces delivered to pad |
561,485 |
504,711 |
11% |
|
690,104 |
-19% |
Gold ounces delivered to pad |
11,587 |
12,536 |
-8% |
|
15,363 |
-25% |
Ag : Au Ratio (1) |
60.0:1 |
55.8:1 |
8% |
|
61.6:1 |
-3% |
(1) |
Silver equivalent ("AgEq") ounces consist of the number of ounces
of silver production/sold plus the number of ounces of gold
production/sold multiplied by 60:1 gold price to silver price
ratio, as determined in the 2014 budget, prior to Q1 2014, the AgEq
ratio was based on the spot gold price to the spot silver price at
the quarter end dates for financial reporting. All numbers are
rounded. |
First quarter of 2014 metal production was down 12% and 18% for
silver and gold, respectively, compared to Q4, 2013. The decrease
in silver and gold production was related to reduced ore tonnes
mined and crushed in Q1 2014, which was somewhat offset by higher
gold and silver grades. Open pit mining and crushing activities
were reduced in Q1 and ultimately discontinued on April 04, 2014.
No further ore will be loaded on the leach pad with ongoing
stockpiling of high grade underground ore for milling. Silver and
gold production will continue from the pad until at least August
2014.
SilverCrest is now focusing on the accelerated development of
the underground mine at Santa Elena with 2,480 metres of the main
ramp driven to date (570m level), which will provide access to high
grade mill feed starting in Q2 2014. Initially, the mill will
process leach pad ore only and underground ore will be stockpiled.
In late Q2, blending of leach pad and underground ore should begin
with testing of optimal mix ratios in H2, 2014.
First Quarter Financial
Results Release:
The Company plans to issue its first quarter financial results
on Thursday, May 15, 2014.
The Qualified Person under National Instrument (NI 43-101)
Standards of Disclosure for Mineral Projects for this News
Release is N. Eric Fier, CPG, P.Eng, President and Chief Operating
Officer for SilverCrest Mines Inc., who has reviewed and approved
its contents.
SilverCrest Mines Inc. (NYSEMKT:SVLC)(TSX:SVL) is a Canadian
precious metals producer headquartered in Vancouver, BC.
SilverCrest's flagship property is the 100%‐owned Santa Elena Mine,
located 150 km northeast of Hermosillo, near Banamichi in the State
of Sonora, México. The mine is a high‐grade, epithermal silver and
gold producer, with an estimated life of mine of 8 years and
operating cash costs of $11 per ounce of silver equivalent (55:1
Ag:Au) for the open pit heap leach and underground mine.
SilverCrest anticipates that the new 3,000 tonnes per day
conventional mill facility at the Santa Elena Mine should recover
an average annual rate of 1.5 million ounces of silver and 32,800
ounces of gold over the current reserve. Major expansion and
construction of the 3,000 tonnes per day conventional mill facility
is nearing completion and is expected to significantly increase
metals production at the Santa Elena Mine (open pit and
underground) in 2014 and beyond. Exploration programs continue to
make new discoveries at Santa Elena and also have rapidly advanced
the definition of a large polymetallic deposit at the La Joya
property in Durango State, Mexico.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This news release contains "forward-looking statements"
within the meaning of Canadian securities legislation and the
United States Securities Litigation Reform Act of 1995. Such
forward-looking statements concern the Company's anticipated
results and developments in the Company's operations in future
periods, planned exploration and development of its properties,
plans related to its business and other matters that may occur in
the future. These statements relate to analyses and other
information that are based on expectations of future performance,
including silver and gold production and planned work programs.
Statements concerning reserves and mineral resource estimates may
also constitute forward-looking statements to the extent that they
involve estimates of the mineralization that will be encountered if
the property is developed and, in the case of mineral reserves,
such statements reflect the conclusion based on certain assumptions
that the mineral deposit can be economically exploited.
Forward-looking statements are subject to a variety of known
and unknown risks, uncertainties and other factors which could
cause actual events or results to differ from those expressed or
implied by the forward-looking statements, including, without
limitation: risks related to precious and base metal price
fluctuations; risks related to fluctuations in the currency markets
(particularly the Mexican peso, Canadian dollar and United States
dollar); risks related to the inherently dangerous activity of
mining, including conditions or events beyond our control, and
operating or technical difficulties in mineral exploration,
development and mining activities; uncertainty in the Company's
ability to raise financing and fund the exploration and development
of its mineral properties; uncertainty as to actual capital costs,
operating costs, production and economic returns, and uncertainty
that development activities will result in profitable mining
operations; risks related to reserves and mineral resource figures
being estimates based on interpretations and assumptions which may
result in less mineral production under actual conditions than is
currently estimated and to diminishing quantities or grades of
mineral reserves as properties are mined; risks related to
governmental regulations and obtaining necessary licenses and
permits; risks related to the business being subject to
environmental laws and regulations which may increase costs of
doing business and restrict our operations; risks related to
mineral properties being subject to prior unregistered agreements,
transfers, or claims and other defects in title; risks relating to
inadequate insurance or inability to obtain insurance; risks
related to potential litigation; risks related to the global
economy; risks related to the Company's status as a foreign private
issuer in the United States; risks related to all of the Company's
properties being located in Mexico and El Salvador, including
political, economic, social and regulatory instability; and risks
related to officers and directors becoming associated with other
natural resource companies which may give rise to conflicts of
interests. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those described in the
forward-looking statements. The Company's forward-looking
statements are based on beliefs, expectations and opinions of
management on the date the statements are made. For the reasons set
forth above, investors should not place undue reliance on
forward-looking statements.
"N. Eric Fier" |
N.
Eric Fier, President & COO SILVERCREST MINES INC. |
Neither TSX
Exchange nor its Regulation Services Provider (as defined in the
policies of the TSX Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Fred Cooper(604) 694-1730 ext. 108 / Toll Free:
1-866-691-1730Fax: (604) 694-1761Email:
info@silvercrestmines.comWebsite: www.silvercrestmines.com
(AMEX:SVLC)
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