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PPX Mining Announces 2022 Production From Callanquitas
TORONTO, ON / ACCESSWIRE / February 27, 2023 / PPX Mining Corp. (the " Company " or " PPX ") is ...
About this update from Ppx Mining Corp.
[{"type":"text","content":"PPX Mining Announces 2022 Production From CallanquitasTORONTO, ON / ACCESSWIRE / February 27, 2023 / PPX Mining Corp. (the \"Company\" or \"PPX\") is pleased to announces the 2022 production results of its Callanquitas Unit, currently operated by Proyectos La Patagonia S.A.C. (\"PLP\"), as follows:Calendar QuarterTons ProductionGold Ounces ProducedSilver Ounces Produced*Gold Eq. Ounces ProducedQ1-2211,160.593,293.6038,676.203,788.93Q2-2210,445.043,023.1533,927.813,433.74Q3-2210,394.13,094.8945,234.513,599.73Q4-2212,232.463,599.4751,754.814,229.17Total 202244,232.2013,010.64169,593.3315,051.57Grade of CallanquitasDuring 2022, Callanquitas produced ore with gold and silver content never seen before, exceeding our expectations. Gold grades improved by 2 g/t, while silver grades doubled compared to 2021.Given the record grades experienced in 2022 and in conjunction with diamond drilling from underground mine, carried out by PLP, management expects this trend to continue for the current year.CalendarYearsAverage AuGrade g/tAverage AgGrade g/t20219.99117.86202211.98244.71Production of CallanquitasIn 2022, Callanquitas produced its highest production of gold equivalent ounces since the start of exploitation in 2016, being 15,051.57 Oz Au Eq. This increase was possible due to the high silver grades, achieving an increase of 94,579 ounces over 2021:Calendar YearsTonsProductionGold OuncesProducedSilver OuncesProduced*Gold Eq.Ounces Produced202152,718.6313,320.1375,014.2714,341.43202244,232.2013,010.64169,593.3315,051.57* Gold Eq.: Oz Au produced + oz Ag produced x (average cost per ounce of Ag for the year / average cost per ounce of Au for the year)This production represented proceeds to the Company in the order of PEN(1) 24.25 million (CAD$ 8.24(2) million), from which the Company has already collected PEN 10.39 million (CAD$ 3.52(2) million), in addition to PEN 11.78 million (CAD$ 4.00(2) million) collected during 2022 from production related to the previous calendar year. The Company expects to continue receiving proceeds from the Callanquitas operation.PEN, Peruvian Nuevo Sol (local currency).Foreign Exchange PEN:CAD$ 0.3396 (2022 average).John Thomas, Chief Executive Officer comments \"In 2022, the Callanquitas operating unit delivered excellent results despite its current high-cost structure and political challenges in Peru. New Ma...