Guanajuato Silver Company Ltd. (TSX-V:GSVR) (OTCQX:GSVRF) announces that it will begin processing 3rd party silver and gold mineralized material at its El Cubo mill located 11km east of Guanajuato, Mexico.
Third-Party Minerals Processing:
GSilver announces it has signed a contract to purchase approximately 4,000 tonnes of silver and gold mineralized material from a mining operation located in the Guanajuato area. This material will be processed at the Company’s El Cubo processing plant separately from material sourced from the Company’s El Cubo and El Pinguico mines.
James Anderson, Chairman and CEO, said, “It is GSilver’s intention to use the approximately 20,000 tonne per month of excess capacity at the El Cubo mill to profitably process mineralized material from various potential sources in the Guanajuato area. Whether the business arrangement is designed as toll milling, raw material purchasing, or profit sharing, if it serves to contribute to our bottom line and helps to expand our presence in the 480-year-old mining camp of Guanajuato, then we will pursue it.”
Hernan Dorado, Director and COO, added, “The processing of these 4,000 tonnes of third-party material demonstrates our ability to create additional lines of business for GSilver. With El Cubo centrally located within the heart of one of the world’s great silver-gold mining districts, we are confident that we will be able to generate expanded revenue streams as we look to transition our milling complex toward 100% capacity.”
El Cubo / El Pinguico Production:
The Company is now averaging approximately 1,000 tonnes per day through its El Cubo mill; this production combines material from El Cubo and the El Pinguico above-ground stockpile. The current mined output from El Cubo remains on target with the Company’s ramp-up schedule. Further details of current and planned production, grades, and recoveries will be forthcoming in subsequent news releases.
About Guanajuato Silver Co. Ltd.:
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company is currently producing silver and gold from its 100% owned El Cubo and El Pinguico projects, while simultaneously advancing the El Pinguico Mine to restart. Both projects are located within 11km of the city of Guanajuato, which has an established 480-year mining history.
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