Business
Guanajuato Silver Initiates Processing of Mineralized Material from El Horcon Mine
VANCOUVER, BC / ACCESSWIRE / November 27, 2023 / Guanajuato Silver Company Ltd. (the " Company "...
About this update from Guanajuato Silver Company Ltd.
[{"type":"text","content":"Guanajuato Silver Initiates Processing of Mineralized Material from El Horcon Mine VANCOUVER, BC / ACCESSWIRE / November 27, 2023 / Guanajuato Silver Company Ltd. (the \"Company\" or \"GSilver\") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to announce the commencement of development work and the processing of mineralized material from an existing stockpile at its 100% owned El Horcon mine (\"Horcon\") located approximately 60km NW of Guanajuato, Mexico.James Anderson, Chairman & CEO said, \"The past producing El Horcon mine is ideally situated to become a satellite mining operation that could significantly expand Guanajuato Silver's production profile. The El Horcon mine fits well within our strategy of further consolidating the Guanajuato mining district as we look to take advantage of the excess processing capacity of our two operating mills in the area. In addition to being able to immediately access low-cost mineralized material from the existing stockpile, we are confident that the development programs we have planned for 2024 will add value to El Horcon and allow us to rapidly advance this exciting project.\"El Horcon StockpileStarting in Mid-November, thus far the Company has shipped and processed 350 tonnes of material on a trial basis from the historical stockpile. Head grades from different batches of this material were approximately 30-50 gpt Ag and 1.6 to 3.0 gpt Au. Initial processing runs gave recoveries of approximately 70% for Ag and 82% for Au. Note: this first batch of material was taken from a higher grade area of the stockpile; future shipments are likely to be of somewhat lower grades. The Horcon stockpile is expected to add approximately 4,000 tonnes of mineralized material per month over a six-to-ten-month period. Metallurgical testing of the mineralized material at Horcon has been demonstrated compatible with the Cata mill processing circuit and is currently being blended with mineralized production from the Valenciana Mines Complex (\"VMC\").In other development work, the Company earlier re-assayed previous core samples, and conducted an extensive mapping and sampling program in advance of a diamond drill exploration program that is scheduled to commence in Q2, 2024.Acquired as part of the purchase of Great Panther's Mexican assets (see GSilver's news release dated August 4, 2022 - GSilver Closes Acquisition...