- MAG Silver (MAG) reports the first-quarter production from Juanicipio
- As reported to MAG by the project operator Fresnillo, 36,395 tonnes of development material were processed during the quarter ended March 31, 2021
- The associated lead and zinc production will be reported with MAG’s first-quarter filings
- MAG Silver Corp. is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company
- MAG Silver Corp. (MAG) is down 0.54 per cent and is trading at C$21.98 at 11:19 am ET
MAG Silver Corp. (MAG) is pleased to report the 2021 first-quarter production of underground development material from the Juanicipio Project.
As reported to MAG by the project operator Fresnillo, 36,395 tonnes of development material were processed during the quarter ended March 31, 2021.
On a 100 per cent basis, total production for the quarter based on provisional estimates before liquidation adjustments from the prior quarter totalled 462,321 silver ounces and 697 gold ounces.
The associated lead and zinc production will be reported with MAG’s first quarter filings.
The development material is being processed through the nearby Fresnillo processing plant (100 per cent owned by Fresnillo) with the lead and zinc concentrates treated at market terms under off-take agreements with Met-Mex Peñoles, S.A. de C.V. in Torreón, Mexico.
The revenue from this production, net of processing and treatment charges, will be used by the joint venture to offset initial project capital cash requirements.
“We’ve now successfully milled approximately 108,000 tonnes of development material at the Fresnillo plant since early August of 2020 generating cash-flow to help offset capex, gaining valuable metallurgical understanding,” said George Paspalas, MAG Silver’s President and CEO.
“We’ll continue to see these benefits through to Q4 2021 when we transition to the Juanicipio processing facility,” added Paspalas.
Project development and construction of the Juanicipio processing plant is making good progress at the site, with the plant still expected to commence commissioning in Q4-2021 according to Fresnillo, the operator.
Mineralized material from development will continue to be batch processed on commercial terms at a targeted rate of 16,000 tonnes per month at the Fresnillo plant until the Juanicipio plant is commissioned.
MAG Silver Corp. is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas.
MAG Silver Corp. (MAG) is down 0.54 per cent and is trading at C$21.98 at 11:19 am ET.