SilverCrest Mines Reports 90-percent Rise in Silver Production

SilverCrest Mines Inc. (TSX:SVL,NYSEMKT:SVLC) announced Q3 2014 silver and gold production results from its Mexico-based Santa Elena mine, commenting that it put out 385,251 ounces of silver and 7,085 ounces of gold. Respectively, that’s an increase of 90 percent and a decline of 2 percent from the year-ago quarter.

Other highlights include:

• Silver equivalent production record of 810,334 ounces; a 26% increase.
• Bullion inventory at the end of Q3 2014 included 56,890 oz silver and 1,045 oz gold.
• Santa Elena’s new mill was commissioned on budget by August 1st, with average throughput of 2,371 tonnes per day during Q3 2014 and currently averaging 2,500 tonnes per day.

N. Eric Fier, president and COO of SilverCrest, commented:

Santa Elena’s third quarter 2014 silver equivalent production was significantly higher than the second quarter 2014 as a result of the successful commissioning of the new processing facility. Our current operational focus is to optimize ball mill grind size in efforts to achieve throughput tonnages at or above the nameplate capacity of 3,000 tpd and manage the short-term delays related to the first underground stope production (refer to news release dated September 26, 2014). Metal production for the first three quarters of 2014 was 1.9 million AgEq and it is expected to significantly increase in the fourth quarter to enable us to meet our revised 2014 metal production guidance between 3.0 to 3.3 million AgEq. Free cash flow at current metal prices is anticipated in late Q3 and Q4 2014.

Click here to read the full SilverCrest Mines Inc. (TSX:SVL,NYSEMKT:SVLC) press release.