Business
Guanajuato Silver Achieves Record Production of 938,047 AgEq Ounces in Q1
~ Realizes a 12% Production Increase Over Q4 ~ VANCOUVER, BC / ACCESSWIRE / April 19, 2023 / ...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"Guanajuato Silver Achieves Record Production of 938,047 AgEq Ounces in Q1~ Realizes a 12% Production Increase Over Q4 ~VANCOUVER, BC / ACCESSWIRE / April 19, 2023 / Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to announce consolidated production results for the three months ended March 31, 2023. Production results are generated from the Company's wholly owned El Cubo Mines Complex (\"El Cubo\"), Valenciana Mines Complex (\"VMC\"), and San Ignacio Mine (\"San Ignacio\") in Guanajuato, Mexico, and the Topia Mine (\"Topia\") in Durango, Mexico.Q1 2023 Production HighlightsRecord production during the quarter of 938,047 silver-equivalent (\"AgEq\") ounces derived from 458,803 ounces of silver; 4,413 ounces of gold; 906,696 pounds of lead; and 1,153,138 pounds of zinc; the ramp-up across all four of our silver mines continues to generate quarter-over-quarter production increases.Underground hydraulic fill tailings system successfully implemented at VMC; Tailings material is now being deposited underground in one of the numerous voids that have been created over Valenciana's 450-year mining history.Topia processing capacity increased approximately 10% due primarily to the optimization of a new tailings filter press. Also at Topia, the widening of the Victoria Tunnel has been initiated; once completed, this 2.5km long tunnel will bring access to the lower areas of the Argentina vein, which is the most important vein system in the district and is the principle structure mined at Topia for over 40 years; At least three additional veins will be accessed for production with this tunnel.Principal central maintenance shop has been completed in Guanajuato, and is now fully operational; the Company estimates that over US$1 million has been saved through the refurbishment of discarded and neglected equipment recently acquired through the MMR transaction.Production guidance for 2023 remains unchanged; silver equivalent production is expected to range from 4.6 to 4.8 million ounces.\"It is our mission to consistently achieve our stated production goals, and in the First Quarter we did just that. Record production of precious metals in Q1 puts us on the right course for 2023 as we look to continue the ramp-up phase across all of our producing assets,\" said James Anderson, Chairman...