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(Wallace Refiners) – MAG Silver (TSX / NYSE American: MAG) announced today that between August and December 2020, 71,859 tonnes of mineralized material from Juanicipio mine in Mexico with a head grade of 328 grams per tonne were processed through the Fresnillo plant, with 616,341 payable silver ounces, 1,029 payable gold ounces, 163 tonnes of lead and 224 tonnes of zinc produced and sold.
Pre-commercial production sales were $15,335,000 (net of treatment and processing costs) on a 100% basis less $3,873,000 in mining and transportation costs, netting $11,462,000 that was recorded as gross profit by the Juanicipio Joint Venture for the period August through December 2020.
Construction of the 4,000 tonne per day Juanicipio plant continues to advance, with the plant foundations completed, and with fabrication for the plant in process. SAG and ball mills, flotation cells, all associated vessels, thickeners and ancillary process equipment are now secured on site. The lead and zinc flotation cell lines have been installed and are now being connected to the hydraulic circuit.
Underground development at Juanicipio now exceeds 35 km (22 miles) with preparation of the first production stope concluded during the third quarter of 2020.
“As we see great progress on the mechanical installation of the process plant at Juanicipio, the underground mine continues to provide high grade mineralization for treatment at the Fresnillo plant whilst underground production stopes are being configured for higher tonnage later in the year for plant start up”, said George Paspalas, President and CEO.
MAG Silver’s principal focus and asset is the Juanicipio project (44%), being developed in a Joint Venture partnership with Fresnillo Plc (56%), the operator. Juanicipio is located in the Fresnillo Silver Trend in Mexico, the world’s premier silver mining camp, and the Joint Venture is currently developing an underground mine and constructing a 4,000 tonnes per day processing plant which is expected to commence commissioning in Q4-2021.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
