Sierra Madre Announces Test Mining Throughput in Excess of 425 Tonnes per Day at La Guitarra
Sierra Madre Gold and Silver reports significant progress at its La Guitarra silver-gold mine complex in Mexico. Test mining and processing operations, which began on June 25th, 2024, have achieved daily throughput up to 504 wet metric tonnes per day, with an October average of 428 WMT/d. The company has processed 39,272 tonnes of mineralized material, producing 690.44 dry metric tonnes of concentrate with average grades of 2,903 g/t silver and 34.74 g/t gold. Silver recoveries average 78%, while gold recoveries improved from 74% in June to 87% in October. Commercial production is expected to begin by year-end. A new development plan aims to reduce reliance on oxidized retaques, and a new vein (D-2) has been discovered outside the 2023 resource estimation.
Sierra Madre Gold and Silver riporta significativi progressi nel suo complesso minerario di argento e oro La Guitarra in Messico. Le operazioni di minerazione e lavorazione, iniziate il 25 giugno 2024, hanno raggiunto una capacità di trattamento giornaliera di 504 tonnellate metriche umide al giorno, con una media di 428 TmU/d a ottobre. L'azienda ha elaborato 39.272 tonnellate di materiale mineralizzato, producendo 690,44 tonnellate metriche secche di concentrato con gradi medi di 2.903 g/t di argento e 34,74 g/t di oro. I recuperi di argento in media sono del 78%, mentre i recuperi di oro sono migliorati dal 74% di giugno all'87% di ottobre. Si prevede che la produzione commerciale inizi entro la fine dell'anno. Un nuovo piano di sviluppo mira a ridurre la dipendenza dai residui ossidati, e una nuova vena (D-2) è stata scoperta al di fuori della stima delle risorse del 2023.
Sierra Madre Gold and Silver informa sobre avances significativos en su complejo minero de plata y oro La Guitarra en México. Las operaciones de minado y procesamiento, que comenzaron el 25 de junio de 2024, han alcanzado un rendimiento diario de hasta 504 toneladas métricas húmedas por día, con un promedio de 428 TmH/d en octubre. La compañía ha procesado 39,272 toneladas de material mineralizado, produciendo 690.44 toneladas métricas secas de concentrado con grados promedio de 2,903 g/t de plata y 34.74 g/t de oro. Los recuperos de plata promedian el 78%, mientras que los recuperos de oro mejoraron del 74% en junio al 87% en octubre. Se espera que la producción comercial comience a finales de año. Un nuevo plan de desarrollo tiene como objetivo reducir la dependencia de los residuos oxidados, y se ha descubierto un nuevo filón (D-2) fuera de la estimación de recursos de 2023.
시 에라 마드레 골드 앤 실버는 멕시코의 라 기타라 은-금 광산 단지에서 중요한 진전을 보고합니다. 2024년 6월 25일에 시작된 시험 채굴 및 가공 작업은 하루 최대 504톤의 습식 메트릭 톤의 처리 능력을 달성하였으며, 10월 평균은 428 WMT/d입니다. 이 회사는 39,272톤의 광물화된 물질을 처리하여 2,903 g/t의 은과 34.74 g/t의 금을 평균으로 하여 690.44톤의 건식 메트릭 톤 농축물을 생산하였습니다. 은 회수율은 평균 78%이며, 금 회수율은 6월의 74%에서 10월의 87%로 개선되었습니다. 상업적 생산은 연말까지 시작될 것으로 예상됩니다. 새로운 개발 계획은 산화된 잔여물에 대한 의존도를 줄이는 것을 목표로 하며, 2023년 자원 추정 외부에서 새로운 vein(D-2)이 발견되었습니다.
Sierra Madre Gold and Silver fait état de progrès significatifs dans son complexe minier d'argent et d'or La Guitarra au Mexique. Les opérations d'extraction et de traitement, qui ont commencé le 25 juin 2024, ont atteint un débit quotidien allant jusqu'à 504 tonnes métriques humides par jour, avec une moyenne de 428 TMH/j en octobre. L'entreprise a traité 39 272 tonnes de matériau minéralisé, produisant 690,44 tonnes métriques sèches de concentré avec des teneurs moyennes de 2 903 g/t d'argent et 34,74 g/t d'or. Les taux de récupération de l'argent sont en moyenne de 78 %, tandis que les taux de récupération de l'or sont passés de 74 % en juin à 87 % en octobre. La production commerciale devrait commencer d'ici la fin de l'année. Un nouveau plan de développement vise à réduire la dépendance aux résidus oxydés, et une nouvelle veine (D-2) a été découverte en dehors de l'estimation des ressources de 2023.
Sierra Madre Gold and Silver meldet erhebliche Fortschritte in ihrem Silber-Gold-Bergbaukomplex La Guitarra in Mexiko. Die am 25. Juni 2024 begonnenen Testbergbau- und Verarbeitungsbetriebe haben eine tägliche Durchsatzleistung von 504 feuchten metrischen Tonnen pro Tag erreicht, bei einem Oktober-Durchschnitt von 428 WMT/d. Das Unternehmen hat 39.272 Tonnen mineralisierten Materials verarbeitet und 690,44 trockene metrische Tonnen Konzentrat mit durchschnittlichen Gehalten von 2.903 g/t Silber und 34,74 g/t Gold produziert. Die Silber-Rückgewinnungsraten liegen im Durchschnitt bei 78%, während die Gold-Rückgewinnungsraten von 74% im Juni auf 87% im Oktober verbessert wurden. Die kommerzielle Produktion wird bis Ende des Jahres erwartet. Ein neuer Entwicklungsplan zielt darauf ab, die Abhängigkeit von oxidierten Rückständen zu verringern, und eine neue Ader (D-2) wurde außerhalb der Ressourcenschätzung von 2023 entdeckt.
- Daily throughput reached 504 WMT/d with October average of 428 WMT/d
- Gold recovery rates improved from 74% to 87%
- Processed 39,272 tonnes of mineralized material
- High-grade concentrate production (2,903 g/t silver, 34.74 g/t gold)
- New vein (D-2) discovered outside existing resource estimation
- Commercial production expected before year-end
- Silver recovery rate at 78% with need for new reagent combination
- Reliance on oxidized retaques requiring reduction
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) ("Sierra Madre" or the "Company") is pleased to provide an operational update on activities at the La Guitarra silver-gold mine complex in Estado de Mexico, Mexico.
Test mining and processing has been ongoing since June 25th, 2024. Beginning in October, the company began testing the operation of all three ball mills simultaneously and in various combinations. Daily throughput in the grinding and flotation circuits has been as high as 504 wet metric tonnes per day (WMT/d). From October 1st to October 18th, throughput has averaged 428 WMT/d. This average includes scheduled downtime to reline one mill and normal rainy season power outages. The Company expects commercial production to begin before the end of the year.
The flotation plant has been in continuous operation since the beginning of testing. Silver recoveries to date have averaged
Since the commencement of test operations, a total of 39,272 tonnes of economically interesting mineralized material has been put through the processing circuit. A total of 690.44 dry metric tonnes of concentrate has been shipped to MRI Trading. Average provisional concentrate payment grades have been 2,903 g/t sliver and 34.74 g/t gold.
Test mining continues to provide sufficient tonnages to sustain the milling operations. A new development plan has been put into place to accelerate the mining of insitu mineralized material, reducing the reliance on oxidized retaques, which are backfill from 1990's stopes (see Company press release from September 5, 2024 for more information on retaques).
A new vein outside the 2023 NI 43-101 resource estimation, D-2, has been delineated and test production operations initiated (see Company press release from November 1, 2023 and the Company's SEDAR+ issuer profile for more details on the 2023 resource estimation). Test stope development in the San Rafael II area, the deepest portion of the Guitarra mine, has begun on an identified large block of mineralized material in the Doncellas vein.
Qualified Person
Mr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein.
About Sierra Madre
Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) is a precious metals development and exploration company focused on evaluating the potential of restarting the Guitarra mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic property in Nayarit, Mexico. The Guitarra mine is a permitted, past-producing underground mine, which includes a 500 t/d processing facility that operated until mid-2018.
The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.
Sierra Madre's management team has played key roles in managing the exploration and development of more than 22Moz gold and 600Moz silver in combined mineral reserves and mineral resources. Sierra Madre's team of professionals has collectively raised over
On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,
"Alexander Langer"
Alexander Langer
President, Chief Executive Officer and Director
1-604-765-1604
Cautionary Note Regarding Production Decisions
The Company's decision to potentially place the mine into commercial production, expand a mine, make other production related decisions or otherwise carry out mining and processing operations, is largely based on internal non-public Company data and reports from previous operations. The Company is not basing any production decisions on NI 43-101 compliant reserve estimates, preliminary economic assessments or feasibility studies and, as a result, there is greater risk and uncertainty as to future economic results from the Guitarra Mine Complex, including increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit, and a higher technical risk of failure than would be the case if a feasibility study were completed and relied upon to make a production decision.
Cautionary Note Regarding Forward-Looking Information
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements include, without limitation, statements regarding discussions of future plans, including the expected timing of concentrate shipments; the Company increasing production; the Company receiving revenues on a weekly basis and such revenues allowing the Company to comfortably expand to commercial production without further capital needs; and the Company's plan to return the Guitarra mine to full commercial production and the expected timing and production levels thereof.
The forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that predicted production levels will be achieved and that existing production levels will be maintained.
In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company will be able to execute its future plans as intended, that predicted production levels will be achieved and that existing production levels will be maintained.
Although management of the Company has attempted identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
SOURCE: Sierra Madre Gold and Silver Ltd.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227501
FAQ
What is the current processing capacity at Sierra Madre's La Guitarra mine (SMDRF)?
What are the current recovery rates for silver and gold at La Guitarra (SMDRF)?
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What are the concentrate grades at La Guitarra mine (SMDRF)?
