Santacruz Silver reports record production at Mexican mines

Zimapan mine in Mexico. (Image courtesy of Santacruz Silver Mining).

Santacruz Silver Mining (TSXV: SCZ) reported that silver equivalent consolidated annual production at its Zimapan mine and Rosario project in Mexico increased by 30% in 2020 compared to the previous year and reached 3,655,320 AgEq ounces, including 1,157,812 ounces of silver, 11,056 tonnes of zinc, 3,948 tonnes of lead and 1,544 tonnes of copper.

In a press release, the Canadian miner also said that silver production at the Zimapan mine in the Hidalgo state increased by 20% y-o-y in Q4-2020 and totaled 297,538 ounces.

Despite countrywide closures, Santacruz was able to return to full production by June 2020

On the other hand, Santacruz said that silver production at the Rosario project located in San Luis Potosí was virtually unchanged from Q4 2019 at 43,350 ounces but increased by 103% compared to Q3 2020.

“Despite countrywide closures early in the year, we achieved a safe return to full production by June 2020 and reached record levels by year-end, which is a significant accomplishment for our team on the ground,” Carlos Silva, the company’s CEO, said in the media brief. “Additionally, production from Veta Grande has been completely replaced by production from the Zimapan Mine.”

Silva pointed out that Santacruz’s goal in 2021 is to continue optimizations and further improve production rates, particularly as new areas underground offer expansion potential. 

“Of note, during Q4 2020 the company completed development works on a new mineralized zone at the Zimapan mine, the Horizontes zone, which is expected to contribute higher grade mineralized material to the mill feed,” the executive said. “Importantly, we expect to conclude the acquisition of the Zimapan Mine from Minera Cedros (Industrias Peñoles, S.A.B.) shortly.”

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