MAG Announces Fourth Quarter and 2024 Production From Juanicipio and Provides Initial 2025 Production Guidance
MAG Silver reports strong Q4 and full-year 2024 production results from the Juanicipio mine, where it holds a 44% stake. The operation processed 333,612 tonnes in Q4, maintaining steady production levels. Silver head grade averaged 417 g/t during Q4, contributing to a full-year average of 468 g/t, exceeding expectations.
Q4 production reached 4.3 million ounces of silver and 9,041 ounces of gold. For the full year 2024, Juanicipio produced 18.6 million ounces of silver and 39,029 ounces of gold, marking year-over-year increases of 10.5% and 6.3% respectively. The operation benefited from metallurgical improvements implemented in early 2024, resulting in consistently high precious metal recovery rates.
For 2025, production guidance is set at 14.7-16.7 million ounces of silver, based on a 4,000 tonnes per operating day throughput rate with head grades ranging between 380-430 g/t silver.
MAG Silver riporta risultati di produzione solidi per il quarto trimestre e per l'intero anno 2024 dalla miniera di Juanicipio, dove detiene una partecipazione del 44%. L'operazione ha trattato 333.612 tonnellate nel quarto trimestre, mantenendo livelli di produzione costanti. Il grado medio di testa dell'argento è stato di 417 g/t durante il quarto trimestre, contribuendo a una media annuale di 468 g/t, superando le aspettative.
La produzione del quarto trimestre ha raggiunto 4,3 milioni di once di argento e 9.041 once d'oro. Per l'intero anno 2024, Juanicipio ha prodotto 18,6 milioni di once di argento e 39.029 once d'oro, segnando aumenti rispetto all'anno precedente del 10,5% e del 6,3% rispettivamente. L'operazione ha beneficiato di miglioramenti metallurgici attuati all'inizio del 2024, portando a tassi di recupero costantemente elevati per i metalli preziosi.
Per il 2025, la guida alla produzione è fissata tra 14,7 e 16,7 milioni di once di argento, basata su un tasso di lavorazione di 4.000 tonnellate per giorno di esercizio, con gradi di testa che variano tra 380 e 430 g/t di argento.
MAG Silver informa sobre resultados de producción sólidos para el cuarto trimestre y el año completo 2024 de la mina Juanicipio, donde tiene una participación del 44%. La operación procesó 333,612 toneladas en el cuarto trimestre, manteniendo niveles de producción estables. La ley promedio de cabeza de plata fue de 417 g/t durante el cuarto trimestre, contribuyendo a un promedio anual de 468 g/t, superando las expectativas.
La producción del cuarto trimestre alcanzó 4.3 millones de onzas de plata y 9,041 onzas de oro. Para el año completo 2024, Juanicipio produjo 18.6 millones de onzas de plata y 39,029 onzas de oro, marcando aumentos interanuales del 10.5% y el 6.3% respectivamente. La operación se benefició de las mejoras metalúrgicas implementadas a principios de 2024, lo que dio como resultado tasas de recuperación de metales preciosos consistentemente altas.
Para 2025, la guía de producción se establece en 14.7-16.7 millones de onzas de plata, basada en una tasa de procesamiento de 4,000 toneladas por día de operación, con leyes de cabeza que varían entre 380-430 g/t de plata.
MAG Silver는 Juanicipio 광산에서 2024년 4분기 및 전체 연도 생산 결과를 발표했습니다. 이 광산에서 44%의 지분을 보유하고 있습니다. 이 운영은 4분기 동안 333,612톤을 처리하며 안정적인 생산 수준을 유지했습니다. 4분기 동안 은의 평균 품위는 417 g/t였으며, 전체 연도 평균은 468 g/t로, 기대치를 초과했습니다.
4분기 생산량은 430만 온스의 은과 9,041온스의 금에 도달했습니다. 2024년 전체 연도에 대해 Juanicipio는 1860만 온스의 은과 39,029온스의 금을 생산하여 각각 10.5%와 6.3%의 연간 증가를 기록했습니다. 이 운영은 2024년 초에 시행된 금속공학 개선으로 혜택을 보며, 일관되게 높은 귀금속 회수율을 달성했습니다.
2025년에는 생산 지침이 1,470만 - 1,670만 온스의 은으로 설정되었으며, 이는 운영일 기준 하루 4,000톤 처리량을 바탕으로 하며, 은의 품위는 380-430 g/t 사이입니다.
MAG Silver annonce des résultats de production solides pour le quatrième trimestre et l'année entière 2024 provenant de la mine de Juanicipio, où elle détient une participation de 44%. L'exploitation a traité 333 612 tonnes au quatrième trimestre, maintenant des niveaux de production constants. La teneur moyenne en argent était de 417 g/t au cours du quatrième trimestre, contribuant à une moyenne annuelle de 468 g/t, dépassant les attentes.
La production du quatrième trimestre a atteint 4,3 millions d'onces d'argent et 9 041 onces d'or. Pour l'année entière 2024, Juanicipio a produit 18,6 millions d'onces d'argent et 39 029 onces d'or, marquant des augmentations d'année en année de 10,5 % et 6,3 % respectivement. L'exploitation a bénéficié d'améliorations métallurgiques mises en œuvre au début de 2024, entraînant des taux de récupération des métaux précieux constamment élevés.
Pour 2025, les prévisions de production sont fixées entre 14,7 et 16,7 millions d'onces d'argent, basées sur un taux de traitement de 4 000 tonnes par jour de fonctionnement, avec des teneurs de tête variant entre 380 et 430 g/t d'argent.
MAG Silver berichtet über starke Produktionszahlen für das vierte Quartal und das gesamte Jahr 2024 aus der Juanicipio Mine, an der es mit 44% beteiligt ist. Der Betrieb verarbeitete im 4. Quartal 333.612 Tonnen und hielt dabei die Produktionsniveaus stabil. Der durchschnittliche Gehalt an Silber betrug im 4. Quartal 417 g/t, was zu einem Jahresdurchschnitt von 468 g/t beitrug und die Erwartungen übertraf.
Die Produktion im 4. Quartal erreichte 4,3 Millionen Unzen Silber und 9.041 Unzen Gold. Für das gesamte Jahr 2024 produzierte Juanicipio 18,6 Millionen Unzen Silber und 39.029 Unzen Gold, was gegenüber dem Vorjahr eine Steigerung von 10,5% bzw. 6,3% markiert. Der Betrieb profitierte von metallurgischen Verbesserungen, die Anfang 2024 umgesetzt wurden, was zu konstant hohen Rückgewinnungsraten für Edelmetalle führte.
Für 2025 wurde die Produktionsprognose auf 14,7-16,7 Millionen Unzen Silber festgelegt, basierend auf einer Verarbeitungsrate von 4.000 Tonnen pro Betriebstag mit Gehalten zwischen 380-430 g/t Silber.
- Silver production exceeded guidance by 1.3 million ounces in 2024
- 10.5% YoY increase in silver production to 18.6M oz
- 6.3% YoY increase in gold production to 39,029 oz
- 47.2% YoY increase in zinc production
- 38.3% YoY increase in lead production
- 2025 silver production guidance indicates potential decrease from 2024 levels (14.7-16.7M oz vs 18.6M oz)
- Q4 silver production decreased 12.9% compared to Q3 2024
- Q4 gold production decreased 16.3% compared to Q3 2024
Insights
The Juanicipio operation's 2024 performance demonstrates exceptional operational execution with several noteworthy achievements. The processing plant maintained a steady 333,612 tonnes quarterly throughput, while achieving impressive silver head grades of 417 g/t in Q4 and 468 g/t for the full year. These metrics, combined with optimized recovery rates, resulted in total 2024 production of 18.6 million ounces of silver and 39,029 ounces of gold.
The operational success is particularly evident in the significant year-over-year improvements across all metals: silver production increased
However, the 2025 guidance of 14.7-16.7 million ounces of silver signals a strategic shift in mine sequencing. The projected head grade range of 380-430 g/t silver represents a
This guidance suggests a mature understanding of the orebody and a conservative approach to production planning, prioritizing sustainable long-term operations over short-term production maximization. The weighted production distribution toward Q2 and Q3 2025 indicates sophisticated mine planning that accounts for grade variability while maintaining consistent plant feed.
The 2024 production results solidify Juanicipio's position as a premier silver asset, with its 18.6 million ounces of silver output placing it among the world's top-tier silver operations. The sustained high grades and strong recovery rates demonstrate the asset's exceptional quality in a market where high-grade silver deposits are increasingly rare.
The outperformance against guidance by 1.3 million ounces showcases operational excellence, but more importantly, it validates the geological model and grade continuity. This is important for long-term valuation as it reduces technical risk and supports sustainable production planning.
The 2025 guidance, while indicating lower production levels, reflects a pragmatic approach to resource management. The anticipated grade variability is a common characteristic of epithermal vein systems and the transparent communication about production weighting towards mid-year demonstrates mature operational planning. This approach typically leads to more predictable production patterns and better cost management, which are increasingly valued in the current market environment where operational consistency often commands premium valuations.
VANCOUVER, British Columbia, Jan. 29, 2025 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) reports production from Juanicipio (
- Steady throughput: The Juanicipio plant maintained steady production with 333,612 tonnes of ore processed in Q4, consistent with Q3. All material processed in 2024 was processed through the Juanicipio plant.
- Solid grade performance: In line with plan, silver head grade averaged 417 grams per tonne (“g/t”) during the quarter delivering a guidance beating 2024 head grade of 468g/t. Both metrics exceeded expectations, reflecting the high quality of the resource.
- Consistent precious metal recovery: Incremental metallurgical improvements implemented in the first half of the year delivered consistently high precious metal recovery rates which were further supported by ongoing circuit optimisation efforts.
- Robust production output: Preliminary Q4 production included 4.3 million ounces of silver and 9,041 ounces of gold. For the full year, Juanicipio produced a total of 18.6 million ounces of silver and 39,029 ounces of gold, marking a
10.5% and6.3% year-over-year increase, respectively. - Guidance beat: Enhanced grades and higher recovery delivered silver production exceeding the top end of revised production guidance by 1.3 million ounces reinforcing confidence in Juanicipio’s long-term potential.
Production highlights (
| Q4 2024 | Q3 2024 | % Chg | Q4 2023* | % Chg | 2024 | 2023* | % Chg | |||||
| Milling | t | 333,612 | 332,290 | 346,766 | - | 1,328,178 | 1,268,757 | |||||
| Head grade | ||||||||||||
| Silver | g/t | 417 | 481 | - | 467 | - | 468 | 472 | - | |||
| Gold | g/t | 1.15 | 1.32 | - | 1.37 | - | 1.25 | 1.27 | - | |||
| Lead | % | 1.49 | 1.58 | - | 1.35 | 1.50 | 1.15 | |||||
| Zinc | % | 2.79 | 2.83 | - | 2.44 | 2.78 | 2.06 | |||||
| Production | ||||||||||||
| Silver | koz | 4,257 | 4,886 | - | 4,505 | - | 18,571 | 16,812 | ||||
| Gold | oz | 9,041 | 10,801 | - | 10,591 | - | 39,029 | 36,729 | ||||
| Lead1 | klb | 9,881 | 10,656 | - | 9,189 | 39,199 | 28,351 | |||||
| Zinc2 | klb | 15,633 | 16,757 | - | 15,086 | 65,891 | 44,754 | |||||
* Includes material processed at the Fresnillo, Saucito and Juanicipio beneficiation plants.
1 Lead recovered to lead concentrate.
2 Zinc recovered to zinc concentrate.
2025 Guidance
As reported by Fresnillo, silver production at Juanicipio is forecast to range between 14.7 million and 16.7 million ounces. This guidance is based on a throughput rate of 4,000 tonnes per operating day at head grade ranges of 380g/t to 430 g/t silver and 1.2 g/t to 1.4g/t gold. Head grades are anticipated to fluctuate due to the balancing of the three subvertical ramps and the mining of different sections of the orebody. Production is expected to be weighted toward the second and third quarters of 2025, reflecting mine sequencing and anticipated grade variability. Comprehensive cost and production guidance will be provided with the release of the Company’s operational and financial results at the end of Q1 2025.
“Delivering silver production of nearly 19 million ounces in 2024 is a testament to the quality and resilience of the Juanicipio project and the quality of the team’s execution,” said George Paspalas, MAG Silver’s President and CEO. “Consistently strong grades and reliable recoveries have laid the foundation for sustained performance and positioned us to continue unlocking value in the years ahead. While guidance reflects expected variability in grades and production rates due to mine sequencing, it underscores the sustainable operation we have built at Juanicipio. We remain focused, together with Fresnillo, on delivering consistent performance, optimizing costs, and driving value creation for all our stakeholders.”
Qualified Person: All scientific or technical information in this press release is based upon information prepared by or under the supervision of, or has been approved by Gary Methven, P.Eng., who is a “Qualified Person” for purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects (“National Instrument 43-101” or “NI 43-101”). Mr. Methven is not independent as he is Vice President, Technical Services of MAG.
About MAG Silver Corp. (www.magsilver.com)
MAG Silver Corp. is a growth-oriented Canadian mining and exploration company focused on advancing high-grade, district scale precious metals projects in the Americas. MAG is a top-tier primary silver mining company through its (
Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management.
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995 or “forward-looking information” within the meaning of applicable Canadian securities legislation (collectively, “forward-looking statements”). All statements in this release, other than statements of historical facts are forward looking statements, including statements regarding: provisional estimates relating to production and operations at Juanicipio for 2025, including anticipated silver head grade and processing rates of development materials, future mineral production, and events or developments; the release of more comprehensive cost and production guidance on the timeline contemplated herein, if at all; the long term potential of the Juanicipio project; and the anticipated future delivery of consistent performance, optimized costs and shareholder value. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements identified herein include, but are not limited to, risks related to the control of Juanicipio cashflows and operations through a joint venture in which the Company is a non-operator; there being no guarantee of the surface rights for the Juanicipio property or in the Company’s ability to obtain and maintain all necessary licences and permits that may be required to carry out its business activities at the Juanicipio Mine; risks related to maintaining a positive relationship with the communities in which the Company operates; risks related to the Company’s decision to participate in the processing and production of the Juanicipio Mine; risks related to the limited operating history at Juanicipio; geotechnical risks associated with the operation of the Juanicipio Mine and related civil structures; labour risks; changes in applicable laws; risks to title, challenge to title or potential title disputes at Juanicipio; continued availability of capital and financing; and general economic, market or business conditions; political risk; currency risk; capital cost inflation and those other risks disclosed in MAG Silver’s filings with the Securities Exchange Commission and Canadian securities regulators. All forward-looking statements contained herein are made as at the date hereof and MAG Silver undertakes no obligation to update the forward-looking statements contained herein. There is no certainty that any forward-looking statement will come to pass, and investors should not place undue reliance upon forward-looking statements.
Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the internet at www.sedar.com and www.sec.gov.
FAQ
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