SilverCrest Provides Update of Santa Elena Transition
18 Juin 2014 - 3:17PM
Marketwired
SilverCrest Provides Update of Santa Elena Transition
Open Pit Heap Leach to Conventional Mill and Underground
Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 18, 2014) -
SilverCrest Mines Inc. (TSX:SVL)(NYSEMKT:SVLC) (the "Company") is
pleased to provide an update on the commissioning of the new 3,000
tonnes per day ("tpd") milling facility and processing plant and
progress of underground development at its 100% owned Santa Elena
Mine in Sonora, Mexico. The commissioning of the new mill commenced
May 1st, 2014 and it is projected that continuous nameplate
production of 3,000 tpd will be achieved by the start of August.
Underground development continues with over 4,500 metres completed
to date on ramping, ventilation and ore development. For additional
information and to view photos and videos of the mill, the
processing plant and the mine site, please visit the Company's
website at www.silvercrestmines.com.
N. Eric Fier, President and COO stated, "The mill start-up in
May was a significant milestone in the development and responsible
growth of the Company. We are confident that our projected early
August completion of commissioning of the mill and ancillary
facilities will be on schedule. The commissioning effort continues
to be supported by highly experienced field engineers from FLSmidth
& Co., who supplied most of the major process plant equipment.
The Company is nearing the completion of its three year, $100
million Expansion Plan which is expected to be completed on budget
and with minimal delay. The capital expenditure budget for 2014 is
$26 million with $7.5 million remaining to be spent mostly for
underground equipment and development. The remaining capital
expenditures are expected to be completed in early Q3, 2014 which
will allow free cash flow from operations to be generated for the
balance of 2014."
Santa Elena Mine Update:
- Residual leaching of the leach pad continues and is expected to
provide silver and gold production through at least July,
2014.
- During the first six weeks of commissioning, the average mill
throughput of reclaimed leach pad material ("pad ore") was
approximately 1,000 tpd on an intermittent basis as the CCD
thickeners and belt filters were being tested and fine-tuned.
- The mill and ancillary facilities have run for extended periods
so that the first gold and silver metal recovered from the milled
pad ore is scheduled prior to the end of June 2014.
- Over 4,500 metres of underground development has been completed
including ramping, ventilation and ore development on five levels.
Approximately 53,000 tonnes of development ore has been mined,
project to date, with 41,500 tonnes delivered to the leach pad and
11,500 tonnes grading Au 1.17 g/t and Ag 98 g/t in stockpile
awaiting mill processing. Blending of underground ore and pad ore
for processing is scheduled to commence in July.
- The new long-hole drill arrived at Santa Elena on June 12th,
2014. All underground production equipment purchased by the Company
(1 long-hole drill and 3 LHD's) is now on site. As planned,
SilverCrest personnel will carry out all underground production
mining from stopes while all development work will continue to be
done by a contractor.
- Key underground positions have been filled with highly
experienced people, several of whom came from Mexican operations
where similar mining methods to Santa Elena are employed. Company
underground mining personnel are in place and are being trained to
start stope production on the 575 level in July.
- Underground close-spaced definition drilling is underway to
better define reserves for initial and longer term stope
production. Initial results from this detailed drilling reconcile
closely with the underground reserve model. Results will be
announced once compilation is complete.
As forecast, the Company expects Q2, 2014 production during the
transition to be lower than Q1, 2014 production as the open pit
heap leach production phases out and the mill facility ramps up to
full production. Current market guidance of 3.3 to 3.6 million AgEq
ounces for 2014 remains unchanged since the second half of 2014 is
heavily weighted with significantly higher metal recoveries (92% Au
and 67.5% Ag) and full production through the mill. Market
production guidance will be reviewed for possible changes once mill
commissioning is complete and underground production is
underway.
The Qualified Person under
National Instrument (NI 43-101) Standards of Disclosure for
Mineral Projects for this News Release is N. Eric Fier, CPG,
P.Eng, President and Chief Operating Officer for SilverCrest Mines
Inc., who has reviewed and approved its contents.
SilverCrest Mines Inc.
(TSX:SVL)(NYSEMKT:SVLC) is a Canadian precious metals producer
headquartered in Vancouver, BC. SilverCrest's flagship property is
the 100%‐owned Santa Elena Mine, located 150 km northeast of
Hermosillo, near Banamichi in the State of Sonora, México. The mine
is a high‐grade, epithermal silver and gold producer, with an
estimated life of mine of 8 years and average operating cash costs
of $11 per ounce of silver equivalent (55:1 Ag:Au). SilverCrest
anticipates that the new 3,000 tonnes per day conventional mill
facility at the Santa Elena Mine should recover an average annual
rate of 1.5 million ounces of silver and 32,800 ounces of gold over
the current reserve. Major expansion and commissioning of the 3,000
tonnes per day conventional mill facility is nearing completion and
is expected to significantly increase metals production at the
Santa Elena Mine in 2014 and beyond. Exploration programs continue
to make new discoveries at Santa Elena and also have rapidly
advanced the definition of a large polymetallic deposit at the La
Joya property in Durango State, Mexico.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
This news release contains
"forward-looking statements" within the meaning of Canadian
securities legislation and the United States Securities Litigation
Reform Act of 1995. Such forward-looking statements concern the
Company's anticipated results and developments in the Company's
operations in future periods, planned exploration and development
of its properties, plans related to its business and other matters
that may occur in the future. These statements relate to analyses
and other information that are based on expectations of future
performance, including silver and gold production and planned work
programs. Statements concerning reserves and mineral resource
estimates may also constitute forward-looking statements to the
extent that they involve estimates of the mineralization that will
be encountered if the property is developed and, in the case of
mineral reserves, such statements reflect the conclusion based on
certain assumptions that the mineral deposit can be economically
exploited.
Forward-looking statements
are subject to a variety of known and unknown risks, uncertainties
and other factors which could cause actual events or results to
differ from those expressed or implied by the forward-looking
statements, including, without limitation: risks related to
precious and base metal price fluctuations; risks related to
fluctuations in the currency markets (particularly the Mexican
peso, Canadian dollar and United States dollar); risks related to
the inherently dangerous activity of mining, including conditions
or events beyond our control, and operating or technical
difficulties in mineral exploration, development and mining
activities; uncertainty in the Company's ability to raise financing
and fund the exploration and development of its mineral properties;
uncertainty as to actual capital costs, operating costs, production
and economic returns, and uncertainty that development activities
will result in profitable mining operations; risks related to
reserves and mineral resource figures being estimates based on
interpretations and assumptions which may result in less mineral
production under actual conditions than is currently estimated and
to diminishing quantities or grades of mineral reserves as
properties are mined; risks related to governmental regulations and
obtaining necessary licenses and permits; risks related to the
business being subject to environmental laws and regulations which
may increase costs of doing business and restrict our operations;
risks related to mineral properties being subject to prior
unregistered agreements, transfers, or claims and other defects in
title; risks relating to inadequate insurance or inability to
obtain insurance; risks related to potential litigation; risks
related to the global economy; risks related to the Company's
status as a foreign private issuer in the United States; risks
related to all of the Company's material properties being located
in Mexico, including political, economic, social and regulatory
instability; and risks related to officers and directors becoming
associated with other natural resource companies which may give
rise to conflicts of interests. Should one or more of these risks
and uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those
described in the forward-looking statements. The Company's
forward-looking statements are based on beliefs, expectations and
opinions of management on the date the statements are made. For the
reasons set forth above, investors should not place undue reliance
on forward-looking statements.
The information provided
in this news release is not intended to be a comprehensive review
of all matters and developments concerning the Company. It should
be read in conjunction with all other disclosure documents of the
Company. The information contained herein is not a substitute for
detailed investigation or analysis. No securities commission or
regulatory authority has reviewed the accuracy or adequacy of the
information presented.
SilverCrest Mines Inc.Fred Cooper(604) 694-1730 ext. 108Toll
Free: 1-866-691-1730(604)
694-1761info@silvercrestmines.comwww.silvercrestmines.com
(AMEX:SVLC)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
(AMEX:SVLC)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024