First Majestic Produces 4.7 Million Silver Eqv. Ounces in Second Quarter
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/12/16 -- First Majestic Silver Corp. ("First Majestic" or the "Company") (TSX: FR)(NYSE: AG)(FRANKFURT: FMV)(BVM: AG) is pleased to announce that total production in the second quarter of 2016 from its six operating silver mines reached 4.7 million silver equivalent ounces, representing a 23% increase compared to the same quarter in 2015. Total production consisted of 2.8 million ounces of silver, 16,371 ounces of gold, 8.8 million pounds of lead and 3.8 million pounds of zinc.
"We delivered a solid second quarter with total production coming in-line with our guidance," said Keith Neumeyer, President & CEO. "I am most pleased to see the grade and recovery increases at Del Toro following improvements in dilution control and the implementation of a flash-flotation approach within the processing plant. In addition, the La Encantada plant resumed normal operations in early May following mechanical modifications to the crushing and grinding areas. These modifications required a temporary mechanical delay which resulted in lower milling rates throughout most of April. At Santa Elena, the operation continues to exceed our production expectations largely in part due to the continued success in mill optimization. As a result, metallurgical recoveries of silver at Santa Elena achieved a new quarterly record of 89% during the second quarter."
Production Details Table:
Quarterly Operational Review:
Total ore processed during the quarter at the Company's six operating silver mines: Santa Elena, La Encantada, La Parrilla, Del Toro, San Martin and La Guitarra, amounted to 798,182 tonnes, reflecting a 1% increase compared to the previous quarter.
Average silver grades in the quarter decreased 8% to 148 g/t compared to 161 g/t in the previous quarter. The decrease in average silver grades is primarily due to lower grades at La Encantada and Santa Elena. Combined silver recoveries averaged 75% remaining consistent with the previous quarter.
The Company's underground development in the second quarter consisted of 11,738 metres, reflecting a 17% increase compared to 10,007 metres completed in the previous quarter. The Company also completed 19,342 metres of diamond drilling in the quarter compared to 6,697 metres in the prior quarter, representing a 189% increase.
Mine by Mine Quarterly Production Table:
(i)Certain amounts shown in this news release may not add exactly to the total amount due to rounding differences.
(i)The following prices were used in the calculation of silver equivalent ounces: Silver: $16.78 per ounce; Gold: $1,260 per ounce; Lead: $0.78 per pound; Zinc: $0.86 per pound.
At the Santa Elena Gold/Silver Mine:
At the La Encantada Silver Mine:
At the La Parrilla Silver Mine:
At the Del Toro Silver Mine:
At the San Martin Silver Mine:
At the La Guitarra Silver Mine:
First Majestic is a mining company focused on silver production in Mexico and is aggressively pursuing the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its corporate growth objectives.
FIRST MAJESTIC SILVER CORP.
Keith Neumeyer, President & CEO
Cautionary Note Regarding Forward Looking Statements
This press release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of First Majestic Silver Corp. Forward-looking statements include, but are not limited to, statements with respect to the future price of silver and other metals, the estimation of mineral reserves and resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, hedging practices, currency exchange rate fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, timing and possible outcome of pending litigation, title disputes or claims and limitations on insurance coverage. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of First Majestic Silver Corp. to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the integration of acquisitions; risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; actual results of current reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of metals; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Description of the Business - Risk Factors" in First Majestic Silver Corp.'s Annual Information Form for the year ended December 31, 2015, available on , and Form 40-F on file with the United States Securities and Exchange Commission in Washington, D.C. Although First Majestic Silver Corp. has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, 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. First Majestic Silver Corp. does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
Contacts:
First Majestic Silver Corp.
toll free number 1.866.529.2807
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Datum: 12.07.2016 - 11:00 Uhr
Sprache: Deutsch
News-ID 482726
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Mining & Metals
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