SilverCrest is a Canadian precious metals exploration and development company focused on new discoveries, value-added acquisitions and near-term production in Mexico's historic precious metal districts
Las Chispas Commissioning on Track. (Credit: nettetal10 from Pixabay)
SilverCrest Metals Inc. (“SilverCrest” or the “Company”) is pleased to provide an update on commissioning activities at the Company’s Las Chispas Mine (“Las Chispas” or the “Mine”) located in Sonora, Mexico. All currency amounts herein are presented in United States Dollars, unless otherwise stated.
Processing plant metallurgical recovery and daily throughput are trending ahead of Feasibility Study* ramp-up projections; For August 2022, actual average recovery of 96.2% gold (“Au”) and 85.6% silver (“Ag”), or 90.7% silver equivalent (“AgEq”)** and average tonnage throughput of 784 tonnes per day (“tpd”) were achieved
Project fully energized by grid power; reliability not at steady state but expected to improve in Q4, 2022
Underground in-vein and waste development continue to track Feasibility Study projections, production stoping underway and ramping up
Underground mine ramping up to 600 to 700 tpd by end of 2022 compared to 750 tpd in the Feasibility Study; continued focus on dilution and ore recovery
First metal sale expected in Q3, 2022, commercial production on schedule for Q4, 2022
Community efforts advanced with key 2022 projects approaching completion
Well-funded ahead of first full year of production in 2023
Updated Technical Report remains on schedule for H1, 2023
Pierre Beaudoin, COO, remarked, “Starting up a new mining operation is a dynamic period, and our team and contractors continue to navigate and address mostly typical ramp-up issues. Overall, we are pleased with the performance of the processing plant to date. Metal recoveries, plant throughput and the availability of the plant itself have generally tracked favorably when compared to the expectations outlined in the Feasibility Study. The project continues to benefit from the sizable surface stockpiles which have allowed the underground operation to be ramped up at a measured pace.”
Source: Company Press Release