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Silver X Reports Second Quarter 2023 Production Results, Places Operations Temporarily on Hold to Launch an Operations Improvement Plan, and Provides Update on the Extension of the Agreement with Local Community
VANCOUVER, BC / ACCESSWIRE / July 26, 2023 / Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF)(F:AGX...
About this update from Silver X Mining Corp
[{"type":"text","content":"Silver X Reports Second Quarter 2023 Production Results, Places Operations Temporarily on Hold to Launch an Operations Improvement Plan, and Provides Update on the Extension of the Agreement with Local CommunityVANCOUVER, BC / ACCESSWIRE / July 26, 2023 / Silver X Mining Corp. (TSX-V:AGX)(OTCQB:AGXPF)(F:AGX) (\"Silver X\" or the \"Company\") reports production results for the three months ended June 30, 2023, for the Company's wholly-owned Nueva Recuperada project (the \"Project\") in central Peru, announces the implementation of an operational performance enhancing plan at the Project and provides an update on the negotiations of the community agreement.Second Quarter 2023 Production HighlightsSteady production continued during the quarter with total throughput of 35,392 tonnes (20,877 in the second quarter (\"Q2\") of 2022).Total processed 296,493 silver equivalent (\"AgEq\")(2) ounces in Q2 2023, 35% more than 219,488 AgEq ounces in Q2 2022.Metal production of 248,42 AgEq ounces with an average head grade of 269 g/t AgEq (156,501 AgEq ounces with an average head grade of 310 g/t AgEq in Q2 2022).\"Silver X keeps on making progress with our Nueva Recuperada Project. We experienced unexpected drop in grades in some mineralized areas, which drove the metal production down, staying at the previous quarter's level (see Silver X's press release dated May 11, 2023). At the same time, project development remained on track with 2,133 meters of underground development during the quarter\", stated Jose M. Garcia, CEO of Silver X.Second Quarter 2023 Production Results UnitQ2 2023Q2 2022ChangeYTD 2023YTD 2022ChangeOre processedtonnes35,39220,87770%75,66332,280134.4%Average head grades Silverg/t63.177.0-18%58.075.5-23.2%Goldg/t1.111.28-13%1.051.040.6%Zinc%1.611.3817%1.701.4120.4%Lead%1.641.603%1.581.524.0%AgEq(2)g/t269310-13%273283-3.6%AgEq(2)oz/t8.649.95-13%8.789.11-3.7%Average recoveries Silver%88.5%86.7%2%88%87%1.6%Gold%70.5%67.0%5%67%63%6.6%Zinc%81.7%75.2%9%82%78%4.9%Lead%88.3%87.2%1%88%88%-0.2%Metal processed Silveroz69,93753,00332%139,15683,41366.8%Goldoz1,24786145%2,5331,099130.5%Zinclbs1,184,379636,05086%2,762,3531,015,537172.0%Leadlbs1,222,422737,49166%2,573,9821,088,862136.4%AgEq(2) processedoz296,493219,48835%655,220317,816106.2%AgEq(2) producedoz248,412156,50159%531,099220,000141.4%Notes:(1) In December 20222 Nueva Recuperada P...