Gatos Silver Reports Q2 2023 Production Results
10 Luglio 2023 - 10:42PM
Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the
“Company”) today announced production results for the quarter and
six months ended June 30, 2023 with continued strong mill
throughput rates at its 70%-owned Cerro Los Gatos (“CLG”) mine in
Mexico.
Dale Andres, CEO of Gatos Silver, commented:
“The CLG mine continues to perform very well with another record
for mill throughput rate during the quarter, supported by further
mine debottlenecking and plant optimization efforts. We remain on
track to achieve 2023 production guidance at CLG and to provide an
updated mineral resource and reserve estimate before the end of the
third quarter of this year, including a new life of mine plan.”
Production Results (100%
basis)
CLG comparative production highlights are
summarized below:
|
Three Months Ended June 30, |
Six Months EndedJune 30, |
CLG Production (100% Basis) |
2023 |
2022 |
2023 |
2022 |
Tonnes milled (dmt) |
265,342 |
211,350 |
525,770 |
446,335 |
Tonnes milled per day (dmt) |
2,916 |
2,323 |
2,905 |
2,466 |
Feed Grades |
|
|
|
|
Silver (g/t) |
265 |
374 |
296 |
363 |
Zinc (%) |
4.00 |
5.03 |
3.96 |
4.56 |
Lead (%) |
1.85 |
2.79 |
1.86 |
2.49 |
Gold (g/t) |
0.26 |
0.38 |
0.28 |
0.34 |
Contained Metal |
|
|
|
|
Silver ounces (millions) |
2.00 |
2.30 |
4.43 |
4.69 |
Zinc pounds - in zinc conc. (millions) |
14.8 |
15.6 |
28.9 |
29.3 |
Lead pounds - in lead conc. (millions) |
9.7 |
11.8 |
19.1 |
22.0 |
Gold ounces - in lead conc. (thousands) |
1.20 |
1.27 |
2.58 |
2.58 |
Recoveries |
|
|
|
|
Silver - in both lead and zinc concentrates |
88.6% |
90.4% |
88.4% |
90.1% |
Zinc - in zinc concentrate |
63.5% |
66.4% |
62.8% |
65.4% |
Lead - in lead concentrate |
89.1% |
90.5% |
88.9% |
89.9% |
Gold - in lead concentrate |
53.9% |
57.5% |
54.7% |
52.7% |
|
|
|
|
|
Mill throughput set a new quarterly record,
averaging 2,916 tonnes per day during the second quarter of 2023,
an increase of 26% compared to the second quarter of 2022.
Silver production was 2.00 million ounces in the
second quarter of 2023, 13% below the 2.30 million ounces in the
second quarter of 2022. The reduction is mainly attributable to a
29% decline in silver grades in Q2 2023, as expected in the mine
plan, and partially offset by the 26% increase in mill throughput.
Zinc production decreased by 5%, lead production declined by 18%,
and gold production decreased by 6%, compared with the second
quarter of 2022 due to lower mill feed grades as expected in the
mine plan. Recoveries for the second quarter of 2023 were
marginally lower than in the comparable quarter for 2022 due to
lower grades and metallurgical characteristics which can vary
quarter over quarter.
The paste backfill plant operated well during
the quarter and is expected to be a key enabler for continued mine
optimization, providing increased operational flexibility and
productivity and helping to lower operating costs going forward.
Development progress is enabling sufficient production flexibility
to maintain current mill throughput rates, with continued focus on
accessing the lower levels of the Central and Northwest zones and
on initial development in the Southeast zone. Construction of the
fluorine leach plant for zinc concentrate is complete with
commissioning activities progressing well.
About Gatos Silver
Gatos Silver is a silver dominant exploration,
development and production company that discovered a new silver and
zinc-rich mineral district in southern Chihuahua State, Mexico. As
a 70% owner of the Los Gatos Joint Venture (“LGJV”), the Company is
primarily focused on operating the Cerro Los Gatos mine and on
growth and development of the Los Gatos district. The LGJV consists
of approximately 103,000 hectares of mineral rights, representing a
highly prospective and under-explored district with numerous
silver-zinc-lead epithermal mineralized zones identified as
priority targets.
Qualified Person
Scientific and technical disclosure in this
press release was approved by Anthony (Tony) Scott, P.Geo., Senior
Vice President of Corporate Development and Technical Services of
Gatos Silver who is a “Qualified Person” as defined in S-K 1300 and
NI 43-101.
Forward-Looking Statements
This press release contains statements that
constitute “forward looking information” and “forward-looking
statements” within the meaning of U.S. and Canadian securities
laws. All statements other than statements of historical facts
contained in this press release, including statements regarding
timing of an updated mineral resource and reserve estimate and life
of mine plan, expected production and mill throughput rates, future
debottlenecking and plant optimization at CLG, expected benefits of
the paste backfill plant, development progress enabling production
flexibility to maintain current throughput rates, and operating
costs are forward-looking statements. Forward-looking statements
are based on management’s beliefs and assumptions and on
information currently available to management. Such statements are
subject to risks and uncertainties, and actual results may differ
materially from those expressed or implied in the forward-looking
statements, and such other risks and uncertainties described in our
filings with the U.S. Securities and Exchange Commission and
Canadian securities commissions. Gatos Silver expressly disclaims
any obligation or undertaking to update the forward-looking
statements contained in this press release to reflect any change in
its expectations or any change in events, conditions, or
circumstances on which such statements are based unless required to
do so by applicable law. No assurance can be given that such future
results will be achieved. Forward-looking statements speak only as
of the date of this press release.
Investors and Media Contact
André van NiekerkChief Financial
Officerinvestors@gatossilver.com(604) 424-0984
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