Resource News

Cyprium Mining (TSXV:CUG) has announced the start of production at the Potosi silver mine in the Santa Eulalia District, Chihuahua, Mexico. As quoted in the press release: Production will focus initially on the “Tunel” mineralized body, which lies on levels 1 to 4 of the mine in the area accessed by the recently rehabilitated Potosi …

Cyprium Mining (TSXV:CUG) has announced the start of production at the Potosi silver mine in the Santa Eulalia District, Chihuahua, Mexico.
As quoted in the press release:

Production will focus initially on the “Tunel” mineralized body, which lies on levels 1 to 4 of the mine in the area accessed by the recently rehabilitated Potosi No. 3 shaft (See Press Release of May 30th, 2016).
Mr. Alain Lambert, Chairman and CEO of the Cyprium commented: “We are very pleased that it took only six months and less than a million dollars to return the Potosi Mine to production. This nicely validates Cyprium’s business plan of acquiring and inexpensively restoring past producing mines to generate cash flow for expanded development and exploration.” Mr. Lambert added: “We believe that the larger Santo Domingo mineralized body located at level 9, 10 and 11 of the mine – also known as the Main Silicate Body – has good exploitation potential and having started production of the Tunel body, evaluation and preparations for exploiting the Santo Domingo body will assume top priority.”
The first phase of production will be to extract broken mineralized material left in stopes on levels 1 and 2 of the mine by past mining activities. Subject to receiving final explosives permits, the Company expects to begin blasting on level 4 by the end of July. The Company is also evaluating other areas for blasting on level 2 and 3. Cyprium is currently extracting twenty tons per day on a test basis and expects to achieve an extraction volume of eighty tons per day by mid-August(1).

Click here to read the full press release.

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