MAG Announces Third Quarter 2024 Production from Juanicipio
MAG Silver reports strong Q3 2024 production from Juanicipio, processing 332,290 tonnes of ore. The operation achieved preliminary production of 4.9 million silver ounces and 10,801 gold ounces, with silver head grades averaging 481 g/t. The plant maintained steady production for the third consecutive quarter with 100% ore processing through the Juanicipio facility. Metal recovery rates continued to improve through operational enhancements. With ongoing operational outperformance, silver grades are expected to reach the top end of revised guidance (420g/t to 460g/t) for 2024.
MAG Silver riporta una forte produzione nel terzo trimestre del 2024 da Juanicipio, elaborando 332.290 tonnellate di minerale. L'operazione ha raggiunto una produzione preliminare di 4,9 milioni di once d'argento e 10.801 once d'oro, con un grado medio di argento di 481 g/t. L'impianto ha mantenuto una produzione costante per il terzo trimestre consecutivo, con un'elaborazione del 100% del minerale attraverso la struttura di Juanicipio. I tassi di recupero del metallo hanno continuato a migliorare grazie a miglioramenti operativi. Con una continua eccellenza operativa, si prevede che i gradi d'argento raggiungano l'estremità superiore della guida rivista (420 g/t a 460 g/t) per il 2024.
MAG Silver informa sobre una producción fuerte en el tercer trimestre de 2024 de Juanicipio, procesando 332.290 toneladas de mineral. La operación logró una producción preliminar de 4,9 millones de onzas de plata y 10.801 onzas de oro, con leyes promedio de plata de 481 g/t. La planta mantuvo una producción constante durante el tercer trimestre consecutivo, con un procesamiento del 100% del mineral a través de la instalación de Juanicipio. Las tasas de recuperación de metales continuaron mejorando gracias a mejoras operativas. Con un desempeño operativo continuo, se espera que las leyes de plata alcancen el extremo superior de la guía revisada (420 g/t a 460 g/t) para 2024.
MAG Silver는 Juanicipio에서 2024년 3분기에 강력한 생산 결과를 보고하였습니다. 총 332,290톤의 광석을 처리했습니다. 이 가동은 490만 온스의 은과 10,801온스의 금을 예비 생산하였으며, 평균 은 품위는 481 g/t에 달합니다. 이 공장은 세 번째 연속 분기 동안 안정적인 생산을 유지하며 Juanicipio 시설을 통한 광석 100% 처리를 완료했습니다. 금속 회수율은 운영 개선을 통해 계속 향상되었습니다. 계속되는 운영 성과로 인해 은 품위는 2024년 수정된 지침의 상한선(420 g/t에서 460 g/t)에 도달할 것으로 예상됩니다.
MAG Silver fait état d'une production solide au troisième trimestre 2024 provenant de Juanicipio, avec un traitement de 332 290 tonnes de minerai. L'opération a atteint une production préliminaire de 4,9 millions d'onces d'argent et 10 801 onces d'or, avec des teneurs moyennes en argent de 481 g/t. L'usine a maintenu une production stable pour le troisième trimestre consécutif, avec un traitement de 100 % du minerai à travers l'installation de Juanicipio. Les taux de récupération des métaux ont continué à s'améliorer grâce à des améliorations opérationnelles. Avec des performances opérationnelles continues, il est prévu que les teneurs en argent atteignent le haut de la fourchette révisée (420 g/t à 460 g/t) pour 2024.
MAG Silver berichtet über eine starke Produktion im dritten Quartal 2024 von Juanicipio, mit der Verarbeitung von 332.290 Tonnen Erz. Die Operation erzielte eine vorläufige Produktion von 4,9 Millionen Unzen Silber und 10.801 Unzen Gold, wobei die durchschnittlichen Silbergehalte bei 481 g/t lagen. Die Anlage hielt die Produktion im dritten aufeinanderfolgenden Quartal konstant, mit einer 100%igen Erzverarbeitung durch die Juanicipio-Anlage. Die Metallrückgewinnungsraten verbesserten sich weiterhin durch betriebliche Verbesserungen. Mit anhaltenden betrieblichen Überleistungen wird erwartet, dass die Silbergehalte das obere Ende der überarbeiteten Prognose (420 g/t bis 460 g/t) für 2024 erreichen werden.
- Strong Q3 production with 4.9M silver ounces and 10,801 gold ounces
- Silver head grade of 481 g/t outperforming expectations
- Improved metal recovery rates through operational enhancements
- Lead production increased 25.9% YoY to 10,656 klb
- Zinc production grew 31.9% YoY to 16,757 klb
- Quarter-over-quarter decline in silver production by 2.0%
- 5.4% decrease in zinc grade compared to Q2 2024
Insights
The Q3 production results from Juanicipio demonstrate exceptional operational performance and significant value creation. The consistently high silver grades of
Particularly noteworthy is the substantial year-over-year improvement in base metal production, with lead and zinc outputs increasing by
VANCOUVER, British Columbia, Oct. 23, 2024 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) reports production from Juanicipio (
Q3 Highlights
- Consistent throughput: The Juanicipio plant maintained steady production with 332,290 tonnes of ore processed in Q3, consistent with Q2, marking the third consecutive quarter of
100% ore processing through the Juanicipio plant. - Continued grade overperformance: Silver head grade averaged 481 grams per tonne (“g/t”) during the quarter, contributing to a year-to-date average of 485g/t. This continues to outperform expectations and underscores the high-grade nature of the Juanicipio deposit.
- Improved metal recovery: Metal recovery rates continue to improve, highlighting the success of ongoing operational enhancements and circuit optimizations at the Juanicipio plant.
- Robust production: Juanicipio achieved strong preliminary production estimates of 4.9 million silver ounces and 10,801 gold ounces, exceeding quarterly expectations and demonstrating the strength of the asset.
- Guidance on-track: With continued operational outperformance, silver grades are expected to be at the top end of revised guidance (420g/t to 460g/t) for 2024, reinforcing confidence in Juanicipio’s long-term potential. Comprehensive financial and operational results are expected to be released on November 8, 2024.
Comparative production highlights (
| Q3 2024 | Q2 2024 | % Chg | Q3 2023* | % Chg | YTD 2024 | YTD 2023* | % Chg | ||
| Milling | t | 332,290 | 336,593 | - | 322,249 | 994,566 | 921,990 | ||
| Head grade | |||||||||
| Silver | g/t | 481 | 498 | - | 523 | - | 485 | 474 | |
| Gold | g/t | 1.32 | 1.20 | 1.32 | 1.28 | 1.23 | |||
| Lead | % | 1.58 | 1.56 | 1.33 | 1.50 | 1.07 | |||
| Zinc | % | 2.83 | 2.99 | - | 2.25 | 2.77 | 1.92 | ||
| Production | |||||||||
| Silver | koz | 4,886 | 4,984 | - | 4,781 | 14,315 | 12,306 | ||
| Gold | oz | 10,801 | 9,259 | 9,434 | 29,987 | 26,137 | |||
| Lead1 | klb | 10,656 | 9,956 | 8,467 | 29,319 | 19,164 | |||
| Zinc2 | klb | 16,757 | 18,850 | - | 12,704 | 50,260 | 29,667 |
* Includes material processed at the Fresnillo, Saucito and Juanicipio beneficiation plants.
1 Lead recovered to lead concentrate.
2 Zinc recovered to zinc concentrate.
“The third quarter continued to validate the strength and quality of the operations at Juanicipio,” said George Paspalas, MAG Silver’s President and CEO. “We are delighted to report another quarter of exceptional production results from Juanicipio. Strong production numbers, coupled with consistent operational improvements validate the quality of this world-class asset and we are excited about the growth and long-term success that lies ahead.”
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 emerging as 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 that address our expectations with respect to the timing and success of the full-scale ramp up of milling activities, provisional estimates relating to production at Juanicipio for Q3 2024, processing rates of development materials, future mineral production, and events or developments. 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, a subsequent change in the Company’s approach to executive compensation from that approach approved by Shareholders, failure of the Company to receive approval from the Toronto Stock Exchange of the renewal of the unallocated entitlements under the Plans, changes in applicable laws, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including those risks disclosed in MAG Silver’s filings with the Securities Exchange Commission (the “SEC”) 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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