Santacruz produces 706,978 oz AgEq in Q1 in Mexico

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Santacruz Silver Mining Ltd. [SCZ-TSXV; 1SZ-FSE] reported operating results from the 100%-owned Zimapan Mine located in Zimapan, Hidalgo, Mexico, and the 100%-optioned Rosario Project in Charcas, San Luis Potosi, Mexico, for the first quarter 2021. The company is not including production from the Veta Grande Project in this report as operations at Veta Grande were suspended during Q1 2020.

Production highlights include silver equivalent ounces produced 706,978 in Q1. Silver head grades increase 9.4% at Zimapan Mine as compared to Q1 and Q4 2020. There was increased tonnage throughput from Lomo del Toro zone of the Zimapan Mine from 4,000 during January and February to 6,000 tonnes for the month of March. A new mining method introduced in late March at Rosario that is expected to significantly reduce costs by less handling of waste material

Carlos Silva, Santacruz’s COO, stated, “As we keep advancing our workings deeper into the higher-grade Lomo del Toro manto and increase the tonnage mined from this zone, we are seeing a corresponding increase in head grades at our Zimapan Mine. We are progressing well towards our objective of reaching 15,000 tonnes per month of mill feed from this higher-grade area by the end of the second quarter.” Silva continued, “We expect further efficiencies at our Rosario Project during Q2 as a result of a revised mining plan which results in less waste material being handled. These very encouraging improvements were unfortunately partially offset by an unstable power supply from Mexico’s Comision Federal de Electricidad (Mexico’s power supply company). The unstable power supply impacted the mill throughput at both mines in February as motors for the ball mills were damaged. The matter was resolved in early March but mill throughput was materially reduced for eight days.”

The company continues to take all appropriate measures to prevent COVID-19 among the work force and local communities and to monitor the effectiveness of these measures in mitigating any potential impact on business activities. The company’s actions have been successful to date and the pandemic has not had any material impact on the business.


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