First Majestic Silver Corp. (TSX:FR) announces total production in the second quarter of 2019 reached 6.4 million silver equivalent ounces, representing a 2% increase compared to the prior quarter. Total production consisted of 3.2 million ounces of silver, 33,576 ounces of gold, 2.5 million pounds of lead and 1.4 million pounds of zinc. In the first half of 2019, total production reached 12.7 million ounces, or approximately 49% of the Company’s guidance midpoint of producing 24.7 to 27.5 million silver equivalent ounces in 2019.
“Our two primary assets, the San Dimas and Santa Elena mines, saw strong growth during the quarter producing approximately 80% of our total metal production,” said Keith Neumeyer, President and CEO. “San Dimas continues to exceed guidance due to higher than expected grades and mining rates from the Jessica and Victoria veins. At Santa Elena, the newly installed HIG mill is in its final commissioning stage and is expected to ramp up to reach design capacity of 3,000 tpd in the third quarter. The HIG mill is anticipated to improve overall metallurgical recoveries and lower energy costs compared to traditional ball milling. These two operations will continue to be a major focal point for future production growth and capital investments.”
“Last but certainly not least, I’m very proud to announce that in May we received Ermitaño’s DTU permit,” stated Neumeyer. “This was the final permit required before initiating development activities at this high-grade gold/silver deposit near our Santa Elena mill. Underground development activities are now expected to begin in the fourth quarter of 2019 with initial production in late 2020. Ermitaño’s high grade resources are expected to significantly increase Santa Elena’s production profile and extend mine life for years to come.”
|Ore processed/tonnes milled||736,896||851,349||-13%||812,654||-9||%|
|Total production – ounces of silver eqv.||6,410,483||5,137,318||25%||6,273,677||2||%|
|Silver ounces produced||3,193,566||2,756,263||16%||3,331,388||-4||%|
|Gold ounces produced||33,576||25,449||32%||32,037||5||%|
|Pounds of lead produced||2,452,803||3,949,410||-38%||2,661,088||-8||%|
|Pounds of zinc produced||1,398,922||1,382,760||1%||1,265,438||11||%|
Total ore processed during the quarter at the Company’s mines amounted to 736,896 tonnes, representing a 9% decrease compared to the previous quarter. The decrease in tonnes processed compared to the prior quarter was primarily due to lower mine production from sub-level caving at La Encantada, a decrease in available production stopes at San Martin and La Parrilla, offset by higher production rates at San Dimas, Santa Elena and Del Toro.
Consolidated silver grades in the quarter averaged 159 g/t compared to 153 g/t in the previous quarter. This 4% increase was primarily the result of higher grades at San Dimas, La Parrilla, San Martin and Del Toro. Consolidated gold grades averaged 1.48 g/t compared to 1.26 g/t in the prior quarter representing an 18% increase due to better grades from the Jessica and Victoria veins at San Dimas.
Consolidated silver and gold recoveries averaged 85% and 96%, respectively, during the quarter. The Company successfully completed the installation of the high-intensity grinding (“HIG”) mill at Santa Elena during the quarter. The new mill has a grinding capacity of 3,000 tpd and is expected to ramp up to reach design capacity during the third quarter. The Company expects improvements in metallurgical recoveries and lower operating costs at Santa Elena in the third quarter following the adoption of fine grinding technology.
MINE BY MINE PRODUCTION TABLE
|Mine||Ore Processed||Tonnes per Day||Silver Oz Produced||Gold Oz Produced||Pounds of Lead||Pounds of Zinc||Equivalent Silver Ounces|
*Certain amounts shown may not add exactly to the total amount due to rounding differences.
*The following prices were used in the calculation of silver equivalent ounces: Silver: $14.88 per ounce; Gold: $1,309 per ounce; Lead: $0.85 per pound; Zinc: $1.25 per pound.
At the San Dimas Silver/Gold Mine:
At the Santa Elena Silver/Gold Mine:
At the La Encantada Silver Mine:
At the San Martin Silver Mine:
At the La Parrilla Silver Mine:
At the Del Toro Silver Mine:
ABOUT First Majestic Silver Corp
First Majestic is a publicly traded mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets. The Company presently owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, the La Encantada Silver Mine, the La Parrilla Silver Mine, the San Martin Silver Mine and the Del Toro Silver Mine. Production from these mines are projected to be between 14.2 to 15.8 million silver ounces or 24.7 to 27.5 million silver equivalent ounces in 2019.
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