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Santacruz Silver Reports Second Quarter 2020 Production Results
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2020) - Santacruz Silver Mining Ltd...
About this update from Santacruz Silver Mining Ltd.
[{"type":"text","content":"Santacruz Silver Reports Second Quarter 2020 Production ResultsVancouver, British Columbia--(Newsfile Corp. - August 10, 2020) - Santacruz Silver Mining Ltd. (TSXV: SCZ) (the \"Company\" or \"Santacruz\") reports production in the second quarter of 2020 was 709,765 silver equivalent ounces, representing a 105% increase compared with Q2 2019 and a 27% decrease compared to Q1 2020. Both Q2 2020 and Q1 2020 production results include 100% of the Zimapan Mine's quarterly production whereas the Q2 2019 results do not include any production from the Zimapan Mine given Santacruz acquired its initial interest in PCG Mining, S.A. de C.V. on July 1, 2019 and did not complete the acquisition of the final 50% of PCG Mining until October 4, 2019 (see press releases dated July 2 and October 7, 2019).The Company's Q2 2020 production was negatively impacted by the precautionary Covid-19 related suspension of operations at the Zimapan Mine (see press releases dated April 20 and May 13, 2020) where mill production was suspended for 42 days during the second quarter. As for Rosario, a greater percentage of personnel were believed to have a higher health risk resulting in a 40% decrease in the labor force - primarily the underground mining team.Carlos Silva, CEO of Santacruz, stated, \"Heading into the second quarter our focus was on increasing production at the Rosario and Zimapan mines to offset the suspension of production at Veta Grande. However, with the onset of Covid-19 our focus shifted to the health and wellbeing of our employees and we suspended mine and milling operations during the second quarter in accordance with Mexican government guidance.\" Mr. Silva continued; \"During this operational downtime, we made adjustments in all areas, including milling and underground, which are helping improve our tonnage throughput at both mines as operations resumed. Consolidated production is now on track to return to Q1 2020 levels. With improved metals prices, most particularly silver, and production ramping up towards historic levels with improved efficiencies we are optimistic about our Q3 2020 results.\" Finally Mr. Silva commented; \"It is important to note that Rosario mine production stopes have reached Level 6 where improved head grades are anticipated. As we continue moving forward, our health protocols will remain vigilant as we strive to...