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Santacruz Silver Reports Second Quarter 2016 Production Results
Jul. 20, 2016 01:49PM PST
Silver Investing
Santacruz Silver (TSXV:SCZ) has reported operating results from the Rosario Mine in San Luis, together with a commissioning update from the Veta Grande Mine, both in Mexico, for the second quarter of 2016. As quoted in the press release: Q2 HIGHLIGHTS: Rosario Mine silver equivalent produced ounces of 271,985, down 6.4% from Q1 2016; Head …
Santacruz Silver (TSXV:SCZ) has reported operating results from the Rosario Mine in San Luis, together with a commissioning update from the Veta Grande Mine, both in Mexico, for the second quarter of 2016.
As quoted in the press release:
Q2 HIGHLIGHTS:
- Rosario Mine silver equivalent produced ounces of 271,985, down 6.4% from Q1 2016;
- Head grade decrease to 331 Ag Eqv. g/t, down 14.8% from Q1 2016;
- Veta Grande mining rate exiting Q2 2016 at 400 tpd, and new underground equipment is now at site.
“During the second quarter at the Rosario Mine we experienced some equipment issues that were resolved by quarter’s end, resulting in a slight production reduction. Going forward such equipment issues are not expected to be a factor given the recent improvement in our working capital.” stated Arturo Préstamo, CEO of Santacruz adding, “At the Veta Grande Mine production and mine development improved significantly by quarter’s end with the recent addition of a new jumbo drill and underground haulage equipment.”