Andean Precious Metals Announces Commissioning of the Fines Disposal Facility at San Bartolomé Mine and Changes to Management Team
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) has announced the commissioning of production from the Fines Disposal Facility (FDF) at the San Bartolomé Silver Mine in Bolivia. The new Fine Minerals Processing Plant is now operational, processing 1,300 tonnes per day with plans to increase to 1,500 tonnes per day in Q3 2024. The FDF contains an estimated 3.3 million tonnes of proven and probable mineral reserves grading 58 g/t of silver.
The project aims to enhance sustainability by utilizing previously considered waste material as a valuable resource. Initial silver grades during startup will be 25 g/t, with average extractions expected to range from 69.76% to 75.56%. The company also announced that Segun Odunuga will be stepping down as EVP, Finance, effective July 31, 2024.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) ha annunciato l'avvio della produzione dalla Fines Disposal Facility (FDF) presso la Miniera d'Argento San Bartolomé in Bolivia. Il nuovo Impianto di Lavorazione dei Minerali Fini è ora operativo, elaborando 1.300 tonnellate al giorno con piani di aumento a 1.500 tonnellate al giorno nel terzo trimestre del 2024. La FDF contiene un volume stimato di 3,3 milioni di tonnellate di riserve minerarie provate e probabili con un grado di 58 g/t di argento.
Il progetto mira a migliorare la sostenibilità utilizzando materiali precedentemente considerati rifiuti come una risorsa preziosa. I gradi iniziali di argento durante l'avvio saranno di 25 g/t, con estrazioni medie attese che varieranno dal 69,76% al 75,56%. L'azienda ha anche annunciato che Segun Odunuga si dimetterà dal suo ruolo di EVP, Finanza, a partire dal 31 luglio 2024.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) ha anunciado el inicio de la producción en la Fines Disposal Facility (FDF) de la Mina de Plata San Bartolomé en Bolivia. La nueva Planta de Procesamiento de Minerales Finos ya está operativa, procesando 1,300 toneladas por día con planes de aumentar a 1,500 toneladas por día en el tercer trimestre de 2024. La FDF contiene un estimado de 3.3 millones de toneladas de reservas minerales probadas y probables con una ley de 58 g/t de plata.
El proyecto tiene como objetivo mejorar la sostenibilidad utilizando materiales previamente considerados como desechos como un recurso valioso. Los grados iniciales de plata durante el arranque serán de 25 g/t, con extracciones promedio que se espera que varíen del 69.76% al 75.56%. La compañía también anunció que Segun Odunuga renunciará a su cargo como EVP de Finanzas, a partir del 31 de julio de 2024.
안데안 프레셔스 메탈스 Corp. (TSXV: APM) (OTCQX: ANPMF)가 볼리비아 San Bartolomé 은 광산 내 Fines Disposal Facility(FDF)에서의 생산 시작을 발표했습니다. 새로운 미세 광물 처리 공장이 현재 운영 중이며, 일일 1,300톤을 처리하고 있으며 2024년 3분기에는 1,500톤으로 증가할 계획입니다. FDF는 58g/t의 은 품위로 평가된 330만 톤의 검증 및 추정 광물 매장량을 포함하고 있습니다.
이 프로젝트는 이전에 폐기물로 간주된 자재를 귀중한 자원으로 활용하여 지속 가능성을 높이는 것을 목표로 합니다. 가동 초기 은 품위는 25g/t가 될 것이며, 평균 추출률은 69.76%에서 75.56%로 예상됩니다. 회사는 또한 Segun Odunuga가 2024년 7월 31일부로 재무 EVP직에서 물러날 것이라고 발표했습니다.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) a annoncé le début de la production de la Fines Disposal Facility (FDF) à la mine d'argent San Bartolomé en Bolivie. La nouvelle usine de traitement des minéraux fins est maintenant opérationnelle, traitant 1 300 tonnes par jour, avec des plans d'augmentation à 1 500 tonnes par jour au troisième trimestre 2024. La FDF contient une estimation de 3,3 millions de tonnes de réserves minérales prouvées et probables avec une teneur de 58 g/t d'argent.
Le projet vise à améliorer la durabilité en utilisant des matériaux précédemment considérés comme des déchets comme une ressource précieuse. Les teneurs initiales en argent lors du démarrage seront de 25 g/t, avec des extractions moyennes attendues entre 69,76 % et 75,56 %. L'entreprise a également annoncé que Segun Odunuga démissionnera de son poste de EVP, Finances, à compter du 31 juillet 2024.
Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) hat den Produktionsbeginn der Fines Disposal Facility (FDF) in der Silbermine San Bartolomé in Bolivien bekannt gegeben. Die neue Anlage zur Verarbeitung von feinen Mineralien ist jetzt betriebsbereit und verarbeitet 1.300 Tonnen pro Tag mit der Absicht, im dritten Quartal 2024 auf 1.500 Tonnen pro Tag zu steigern. Die FDF enthält geschätzte 3,3 Millionen Tonnen nachgewiesene und wahrscheinliche Mineralreserven mit einem Gehalt von 58 g/t Silber.
Das Projekt zielt darauf ab, die Nachhaltigkeit zu verbessern, indem zuvor als Abfallmaterial betrachtete Ressourcen genutzt werden. Die anfänglichen Silbergehalte während des Anlaufs werden bei 25 g/t liegen, mit durchschnittlichen Extraktionen, die voraussichtlich zwischen 69,76 % und 75,56 % liegen werden. Das Unternehmen gab außerdem bekannt, dass Segun Odunuga zum 31. Juli 2024 als EVP für Finanzen zurücktreten wird.
- Commissioning of Fines Disposal Facility (FDF) at San Bartolomé Silver Mine
- New Fine Minerals Processing Plant operational at 1,300 tonnes per day
- Plans to increase processing to 1,500 tonnes per day in Q3 2024
- FDF contains 3.3 million tonnes of proven and probable mineral reserves grading 58 g/t of silver
- Average silver extractions expected between 69.76% to 75.56%
- Potential to increase tonnage to 2,000 tonnes per day after plant stabilization
- Initial silver grades during startup will be lower at 25 g/t
- Departure of EVP, Finance Segun Odunuga
Toronto, Ontario--(Newsfile Corp. - July 31, 2024) - Andean Precious Metals Corp. (TSXV: APM) (OTCQX: ANPMF) ("Andean" or the "Company") is pleased to announce the commissioning of production from the Fines Disposal Facility ("FDF") at the San Bartolomé Silver Mine, in Potosí, Bolivia. This significant milestone enhances Andean's commitment to sustainable and efficient mining practices.
The San Bartolomé mine started to process the FDF material in the amount of 11,000 tonnes during the month of May, and 8,000 tonnes during the month of June, using trucks and excavators. The new Fine Minerals Processing Plant was fully operational on July 18th and was finally commissioned on July 23rd, operating at 190 tonnes per hour with
Economic Potential:
Explored primarily through barge-supported sonic drilling, the FDF contains an estimated 3.3 million tonnes of proven and probable mineral reserves grading 58 g/t of silver. The mineral reserves are contained within 3.8 million tonnes of measured and indicated mineral resources grading 56 g/t of silver. The FDF also contains 0.92 million tonnes of inferred mineral resource grading 52 g/t od silver. Initial silver grades during startup will be 25 g/t, increasing in deeper areas as production progresses. Average extractions are expected to range from
Sustainability and Efficiency:
The FDF will enhance the sustainability of the San Bartolomé operation by utilizing the fines material, previously considered waste, as a valuable resource. The project underscores Andean's dedication to reducing the environmental impact while optimizing silver recovery processes.
Alberto Morales, Executive Chairman and Chief Executive Officer stated "We are thrilled to commission the Fines Disposal Facility at San Bartolomé. This project not only exemplifies our commitment to innovation and sustainability but also strengthens our position as a leading silver producer in Bolivia. Based on current commodity prices, the processing of our FDF deposit is not only expected to improve the overall performance of the mine, but also its gross operating margin. We look forward to the positive impact this will have on our operations and the local community."
Management Changes:
Segun Odunuga will be stepping down as EVP, Finance, effective today, July 31, 2024. We would like to thank Segun for his hard work and dedication during his time at Andean and for his contributions to the Company's financial and overall progress during our transition into a mid-tier producer. As he leaves the Company to pursue new opportunities, we wish him all the best in his future endeavors.
About Andean Precious Metals
Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in the Americas. The Company owns and operates the San Bartolomé processing facility in Potosí, Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act on future growth opportunities. Andean's leadership team is committed to creating value; fostering safe, sustainable and responsible operations; and achieving our ambition to be a multi-asset, mid-tier precious metals producer.
Qualified Person Statement
The scientific and technical content disclosed in this news release was reviewed and approved by Donald J. Birak, Independent Consulting Geologist to the Company, a Qualified Person as defined by National Instrument 43-101 - Standards for Disclosure for Mineral Projects, Registered Member, Society for Mining, Metallurgy and Exploration (SME), Fellow, Australasian Institute of Mining and Metallurgy (AusIMM). Mr. Birak has visited Manquiri's various sites frequently, most recently in September 2023.
For more information, please contact:
Amanda Mallough
Director, Investor Relations
amallough@andeanpm.com
T: +1 647 463 7808
Neither the TSX Venture Exchange, Inc. nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
Certain statements and information in this release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.
Forward-looking statements in this release include, but are not limited to, statements and information regarding the performance and the processing capacity of the Fine Minerals Processing Plant and the economic and other effects of processing the FDF deposit. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: the Company's ability to carry on exploration and development activities; the Company's ability to secure and to meet obligations under property and option agreements and other material agreements; the timely receipt of required approvals and permits; that there is no material adverse change affecting the Company or its properties; that contracted parties provide goods or services in a timely manner; that no unusual geological or technical problems occur; that plant and equipment function as anticipated and that there is no material adverse change in the price of silver, costs associated with production or recovery. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and you are cautioned not to place undue reliance on forward-looking statements contained herein.
Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this release include, but are not limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks relating to possible variations in reserves, resources, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; the potential for delays in exploration or development activities or the completion of feasibility studies; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price and foreign exchange rate fluctuations; the uncertainty of profitability based upon the cyclical nature of the industry in which the Company operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or local community approvals or in the completion of development or construction activities; risks related to environmental regulation and liability; political and regulatory risks associated with mining and exploration; risks related to the uncertain global economic environment; and other factors contained in the section entitled "Risk Factors" in the Company's MD&A dated March 31, 2024.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in this release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218263
FAQ
What is the new production capacity of Andean Precious Metals' San Bartolomé Silver Mine after commissioning the Fines Disposal Facility?
What are the mineral reserves in the Fines Disposal Facility (FDF) of Andean Precious Metals' San Bartolomé mine?
What is the expected silver extraction rate from the Fines Disposal Facility at Andean Precious Metals' San Bartolomé mine?
Has there been any recent management changes at Andean Precious Metals (ANPMF)?
