Santacruz Silver produces 3.2 million AgEq ounces in 2021
Santacruz Silver Mining Ltd. [SCZ-TSXV; 1SZ-FSE] reported operating results for the fourth quarter of 2021 and for the year ended December 31, 2021, and has provided an operations update.
2021 production highlights (as compared with 2020)
Silver 1,289,172 oz (+14%); Zinc 12,518 tonnes (+15%); lead 3,747 tonnes (-2%); Copper 1,820 tonnes (+18%). Despite material production increases in all metals except lead, silver equivalent (AgEq) consolidated annual production decreased 10% to 3,220,974 AgEq ounces (2020 – 3,590,451 AgEq ounces) due primarily to a higher silver price being used in the AgEq calculation for 2021 (Ag US$25.00/oz) compared to 2020 (Ag US$17.85/oz).
In Mexico, the Zimapan Mine silver, zinc, lead and copper production all exceeded prior results on a quarterly basis (Q4 2021 vs Q4 2020 in addition to Q4 2021 vs Q3 2021) as well as an annual basis (fiscal year 2021 vs fiscal year 2020)
“Operationally, the Zimapan Mine had an excellent year as we were able to increase throughput by 17% compared to 2020. This production increase compensated for production losses realized by placing the Rosario Mine in Mexico into care and maintenance during the year,” commented Carlos Silva, CEO. “This was achieved despite country wide closures due to COVID-19. Additionally, we anticipate concluding the acquisition of the Glencore Bolivian silver assets shortly, which will have a significant positive impact on our 2022 production levels.”
Silva continued, “Our goal in 2022 is to continue optimizations and further improve production rates, particularly as new underground areas offer expansion potential at the Zimapan Mine. Of note, during Q4 2021 the Company completed development works on a new mineralized zone, the Lomo del Toro Zone, which will contribute to higher grade mineralized material mill feed.”
Santacrus Silver has one producing project, the Zimapan Mine. In addition, the company holds two exploration properties in its mineral property portfolio, the La Pechuga property and the Santa Gorgonia prospect.