Third Quarter Production Highlights
-- Silver produced oz: 151,368; 42% increase over Q3 2011 -- Gold produced oz: 7,184; 18% decrease over Q3 2011 -- Ore Tonnes crushed: 265,598; 10% increase over Q3 2011 -- Silver oz to pad: 413,426; 5% increase over Q3 2011 -- Gold oz to pad: 11,681; 35% decrease over Q3 2011
---------------------------------------------------------------------------- Santa Elena Mine Operating Highlights YTD 2012 Q3 2012 Q3 2011 % Change ---------------------------------------------------------------------------- Silver ounces produced 425,746 151,368 106,636 +42% Gold ounces produced 25,173 7,184 8,805 -18% Silver equivalent ounces produced (1) 1,782,808 519,587 575,079 -10% Silver ounces sold 416,598 152,088 96,631 +57% Gold ounces sold 26,390 7,923 7,627 +4% Silver equivalent ounces sold (1) 1,836,767 558,185 502,402 +11% Tonnes ore mined 799,760 266,534 248,192 +7% Tonnes waste mined 3,708,116 985,293 1,058,909 -7% Waste / ore ratio 4.64 3.70 4.27 -13% Ore tonnes crushed 848,533 265,598 242,359 +10% Average ore tonnes crushed per day 3,097 2,887 2,634 +10% Average silver ore grade (gpt) loaded on pad 43.72 48.41 48.47 0% Average gold ore grade (gpt) loaded on pad 1.44 1.37 2.20 -38% Silver ounces delivered to pad 1,192,677 413,426 395,068 +5% Gold ounces delivered to pad 39,207 11,681 17,912 -35% Ag : Au Ratio (1) 53.9:1 51.2:1 53.2:1 -4% ---------------------------------------------------------------------------- (1) Silver equivalence is based on market spot prices per ounce of silver and gold at the quarter end dates. All numbers are rounded.
Santa Elena Q3 Highlights
-- Phase II leach pad construction was completed on schedule and on budget. This new pad is being loaded with material from high grade benches so that the return of metal is almost immediate. This will also segregate the high grade ore which will be reclaimed first once the conventional mill is operational. -- The Expansion Plan progressed during the quarter with the exploration- stage decline advancing to 740 metres including muck bays, sumps and ventilation. Detailed engineering continues and long lead time mill equipment is being ordered. -- Three drills continued the exploration and development drilling for in- pit reserve confirmation, underground reserve delineation and geotechnical engineering as well as testing the deep extensions of the Santa Elena ore deposit.
N. Eric Fier, CPG, P.Eng. and Chief Operating Officer for SilverCrest Mines Inc. and Qualified Person for this news release has reviewed and approved its contents.
SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) is a Canadian precious metals producer headquartered in Vancouver, BC. SilverCrest’s flagship property is the 100%-owned Santa Elena Mine, which is located 150 km northeast of Hermosillo, near Banamichi in the State of Sonora, Mexico. The mine is a high-grade, epithermal gold and silver producer, with an estimated life of mine cash cost of US$8 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest anticipates that the 2,500 tonnes per day facility should recover approximately 4,805,000 ounces of silver and 179,000 ounces of gold over the 6.5 year life of the open pit phase of the Santa Elena Mine. A three year expansion plan is underway to double metals production at the Santa Elena Mine and exploration programs are rapidly advancing the definition of a large polymetallic deposit at the La Joya property in Durango State.
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