A two-stage 7,000m drill program expected to start this quarter focusing on resource expansion drilling at Loma Bonita and additional greenfields exploration drilling
Arturo Bonillas, President and CEO commented: “We are pleased with the results of our initial exploration program from which we are confirming the presence of new mineralized areas as uncovered by drilling and exploration reconnaissance. Work programs will now focus on expanding the mineralized extension on La Lamosa ridge and defining drill objectives on the new targets within our claims.”
“Total production increased 4% quarter over quarter due to higher grades and recoveries at both our Santa Elena and La Encantada operations,” said Keith Neumeyer, President and CEO. “At La Encantada, silver recoveries averaged 82%, making it the highest recovery rate since owning this operation, following successful plant modifications to optimize ore handling and processing. In addition to higher recoveries, silver grades at La Encantada increased 59% pushing silver production to the highest level since 2014. Production at Santa Elena also reached a new record as higher gold grades were produced from the Main Vein and overall higher metallurgical recoveries were achieved following the start-up of the new HIG mill. This new mill is proving to be a major asset for this operation and I would like to recognize our projects and innovations team for a job well done.”
Net proceeds of the Private Placement will be used to advance exploration of the Columba Silver Project in Chihuahua State, Mexico, and to fund further work at Copalito, La Cigarra and other projects as well as for general working capital purposes.
Candelaria Mining Corp. is pleased to provide an update on a private placement previously announced on December 21, 2018 and March 8, 2019. The Company would like to state that the private placement has been discontinued due to unfavorable market conditions.
Igor Gonzales, President and CEO of Sierra Metals commented:“The Company continues to strengthen its performance in 2019 achieving record quarterly consolidated equivalent metal production in the third quarter…”
“Based on this updated guidance we are still projecting to deliver growth in production relative to the third quarter of 2019. Our first priority is to take all necessary steps to ensure the safety of our employees and contractors at the Tucano Gold Mine while working diligently to minimize the impact to short-term and medium-term production,” stated James Bannantine, President & CEO.
Fortuna Silver Mines Inc. is pleased to report production results for the third quarter of 2019 from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru. The Company produced 1.9 million ounces of silver and 11,436 ounces of gold plus base metal by-products. Silver and gold production for the first nine months of 2019 totaled 6.6 million ounces and 38,247 ounces respectively; being 1 percent above and 4 percent below the Company’s nine month projection respectively. Fortuna is on schedule to produce between 8.2 to 9.0 million ounces of silver and between 49 to 54 thousand ounces of gold or between 11.7 to 12.9 million Ag Eq ounces in 2019 in accordance with our annual production guidance.
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