Santacruz Silver Mining Ltd. (TSXV:SCZ) announced second-quarter 2014 production of 169,800 payable silver equivalent ounces from its Rosario mine, located in San Luis Potosi, Mexico. That represents a 40-percent increase in payable silver equivalent ounces produced as compared with Q1 2014, and Santacruz remains on schedule to meet its production target of 850,000 to 1,100,000 silver equivalent ounces by the end of 2014.
Production highlights include:
- Ore processed grew 10.5% to 22,612 tonnes (all ore milled is now from the Rosario Mine);
- Metal production increased 39.4% to 169,800 payable silver equivalent ounces (‘Ag eq oz’);
- Silver production totalled 100,200 silver ounces (‘Ag oz’);
- Underground development of 1,494 meters;
- Recoveries for silver increased to 89.9% from 85.7% in the first quarter.
Santacruz CEO Arturo Préstamo said:
Consistent with our planning, the Rosario Mine continues to see rapid improvements on many fronts including tonnes mined and milled. As our ratio of ore from stopes to development ore continues to increase, our mining cost will be reduced significantly. In addition, our cost savings initiatives have started to produce results in the overall Rosario Mine operations. Cost savings is and will always be a very important part of our day-to-day operations and with that in mind, good consistent processes and practices are being established.
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