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Santacruz Silver Temporarily Suspends Milling Operations at Its Veta Grande Mine to Complete Capital Upgrades
Vancouver, British Columbia--(Newsfile Corp. - March 10, 2020) - Santacruz Silver Mining...
About this update from Santacruz Silver Mining Ltd.
[{"type":"text","content":"Santacruz Silver Temporarily Suspends Milling Operations at Its Veta Grande Mine to Complete Capital UpgradesVancouver, British Columbia--(Newsfile Corp. - March 10, 2020) - Santacruz Silver Mining Ltd. (TSXV: SCZ) (the \"Company\" or \"Santacruz\") announces that, following a review of its Veta Grande Mine operations in Zacatecas, Mexico the Company has decided to suspend the operation of the processing facility for approximately six months to facilitate plant and new tailings storage facility (\"TSF\") upgrades. \"While we are continuing with the geotechnical evaluations and assessments of the remaining capacity at the existing TSF, we have made the decision to suspend processing at Veta Grande\", stated Carlos Silva, COO of Santacruz. \"This will provide the opportunity to safely engage in improvements at the processing plant concurrent with the construction of the new TSF while continuing with mine and resource development.\"Mr. Silva continued, \"The project includes upgrades to the crushing plant, flotation circuits and ball mills, some of which are already in progress. The mill and TSF improvements are expected to increase the tonnage milling capacity, improve the recovery efficiencies and reusage of wastewater from the TSF at Veta Grande making it a more efficient plant.\" As the Company keeps increasing its mill throughputs at Zimapan and Rosario mines, we expect to offset by 70% the Veta Grande production by the end of May 2020. About Santacruz Silver Mining Ltd. Santacruz is a Mexican focused silver company with two producing silver projects, Veta Grande (with production temporarily suspended) and Rosario, and two exploration properties, the Minillas property and Zacatecas properties. The Company also owns 100% of Carrizal Mining S.A. de C.V. Carrizal Mining is a private Mexican mining company, the principal asset of which is a 20% working interest in the Company's Veta Grande Project. Carrizal Mining also has the right to operate the Zimapan Mine until December 31, 2020 under a mining lease agreement. The Company is managed by a technical team of professionals with proven track records in developing, operating and discovering silver mines in Mexico. Our corporate objective is to become a mid-tier silver producer. 'signed'Arturo Préstamo Elizondo,President, Chief Executive Officer and DirectorFor further informat...