Laatste news release;
Santacruz Silver Reports 2019 Annual Production of 2,829,459 Silver Equivalent Ounces
Vancouver, British Columbia--(Newsfile Corp. - January 28, 2020) - Santacruz Silver Mining Ltd. (TSX.V:SCZ) (the "Company" or "Santacruz") reports its operating results from the Zimapan Project in Zimapan Hidalgo, the Veta Grande Project in Zacatecas, and Rosario Project in Charcas, San Luis Potosi, all located in Mexico, for the fourth quarter ("Q4") and year ended December 31, 2019 and provides an operations update.
Production Highlights:
Total production reached 2.8 million equivalent ounces of silver, representing a 346% increase over 2018
Silver production reached 787,476 ounces, representing a 249% increase over 2018
Ramp development advanced at Zimapan, Veta Grande and Rosario projects to support an increase in milling tonnage for 2020 at all three mines.
The Company produced a total of 2,829,459 silver equivalent ounces in fiscal 2019 (2018 - 634,564) including fourth quarter production of 1,324,303 silver equivalent ounces (2018 - 196,521). The significant increase in production is a result of the Company's two-phase acquisition of Carrizal Mining, S.A de C.V. ("Carrizal") and its rights to operate the Zimapan Mine. As noted in the Company's news release dated July 2, 2019, on July 1, 2019 the Company acquired a 50% interest in Carrizal. As a result, the Company reported 50% of the Zimapan Mine's production in its Q3 operating results. In addition, as noted in the Company's press release of October 7, 2019, on October 4, 2019 Santacruz acquired the remaining 50% interest in Carrizal resulting in 100% of the Zimapan Mine production being incorporated into the Company's Q4 2019 operating results. Further, as noted in the Company's press release of October 30, 2019, Carrizal has the right to operate the Zimapan Mine through December 31, 2020 allowing time for management to work towards finalizing a formal acquisition agreement with Grupo Penoles, S.A.B de C.V. ("Peñoles").
Carlos Silva, Santacruz's COO, stated, "Santacruz had a record year in 2019 producing 2.8 million silver equivalent ounces following the successful acquisition and integration of Carrizal Mining. In addition to this transformative event, the Veta Grande and Rosario mines increased their annual production substantially, while at the same time maintaining significant development activities and advancing exploration plans as a pathway to keep improving our production at all mines and expanding mine resources." Mr. Silva continued "I commend all our employees for their dedication and commitment to keep improving our operations at all areas, and I am certain that our dedication to safe and reliable operations will be a cornerstone of further improvements throughout 2020".