Total production for Q2 based on provisional estimates before offtake agreement adjustments totaled 5,275 thousand silver ounces, 10,639 gold ounces, 3,402 tonnes of lead and 5,418 tonnes of zinc.
Octavio Alvídrez, Chief Executive Officer, said: “The continued strong grades and volumes at our Herradura mine, together with an increased contribution from Saucito, generated an increase in gold production from the previous half. We were also pleased to complete the tie-in of the new Pyrites Plant to the national power grid with the plant moving quickly into operations.”
Silver Tiger’s CEO, Glenn Jessome, stated, “This drilling indicates that the Sulphide Zone continues to extend along strike with an increase of 50 meters to the south. The high-grade Sulphide Zone now has a total strike length of over 250 meters and is open in all directions. Further drilling to the north and south of the Sulphide Zone should continue to expand this area of known mineralization.”
Ernesto Balarezo, CEO of Sierra Metals, commented, “As we complete our first half of 2023, we are pleased with the continued operational recovery at Bolivar. Q2 2023 marks the fourth sequential strong quarter for the mine, achieving production of more than 400,000 tonnes, a landmark amount not achieved by this mine since Q3 2020. These production numbers reinforce our confidence in Bolivar’s potential to grow further.
Shawn Howarth, President and CEO, commented: “We are pleased to have reached an agreement, providing critical financial flexibility and one step towards a broader restructuring. It also reconfirms the commitment by all parties to reach a solution for the future financial health of Excellon.”
Jorge A. Ganoza, Chief Executive Officer of Fortuna, commented, “We remain firmly committed to integrating sustainability into our business strategy, organizational culture, and day-to-day operations. As society increasingly demands higher social and environmental standards from the mining sector, we are dedicated to meeting these expectations in our efforts to achieve sustainable growth.”
The Company plans to use the net proceeds of the Offering for exploration and production improvements at the Mercedes gold mine located in Sonora, Mexico and for general corporate purposes.
Earlier today, the Company unexpectedly received a notice of termination of the previously announced acquisition of the La Negra project from the seller, Dalu S.à r.l., an entity owned by an investment fund managed by Orion Resource Partners. Prior to receipt of the termination notice, the Company had been in discussions with Orion regarding options to advance the acquisition of La Negra to closing, including securing necessary financing.
Dr. Craig Gibson, President and CEO, commented: “Trench sampling at Los Pavitos has shown that in some areas the narrow high grade quartz veins defined in surface sampling are hosted by wider mineralized structures. Wider zones of gold mineralization near the surface could be important for future development of the property. We are looking forward to exploring these mineralized zones by drilling, planned to commence shortly.”
Avino Silver & Gold Mines Ltd. achieved production results of 587,317 silver equivalent ounces, bringing the 12-month trailing total to 2.8 million silver equivalent ounces from the Avino Mine.
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