Pirquitas Mine

Focused on Operational Excellence and Mine Life Extension

The Pirquitas mine is a 100% owned property located in the Province of Jujuy, northern Argentina. It is positioned at an elevation of 4,100 meters above sea level and is accessible by all-weather roads. The mine achieved commercial production on December 1, 2009. It is an open-pit mine utilizing a fleet of 100-tonne trucks and three loading units. Ore is crushed and treated in a gravity pre-concentrator prior to processing in a conventional mineral flotation plant. The silver and zinc concentrates produced from the plant are shipped to third party smelters.

Highlights of the Pirquitas mine include:

  • Mineral Reserves: Probable Mineral Reserves of 16.5 million ounces of silver at an average grade of 220.1 g/t and 7.7 million ounces of silver in stockpiles at an average grade of 109.1 g/t as at December 31, 2015.

  • Mineral Resources: Indicated Mineral Resources of 53.8 million ounces of silver at an average grade of 122.4 g/t, 18.2 million ounces of silver at an average grade of 241.1 g/t at Pirquitas Underground and 8.0 million ounces of silver in stockpiles at an average grade of 107.3 t/t as at December 31, 2015.

  • Delivered record silver production in 2015: : Produced a record 10.3 million ounces of silver and 9.4 million pounds of zinc.

  • 2016 Production guidance: Anticipated 2015 production of between 8.0 and 10.0 million ounces of silver and between 0.0 and 5.0 million pounds of zinc.

  • Exploration: Focused on extending the life of current operations.

Bruce Butcher, P.Eng., an employee of the company, is the Qualified Person who has approved the foregoing disclosure on the Pitarrilla Project. Please refer to the technical report entitled "NI 43-101 Technical Report on the Pirquitas Mine, Jujuy Province, Argentina" dated December 23, 2011, a link to which is provided below.

Mineral Resources are reported inclusive of Mineral Reserves. Please refer to our Mineral Reserves and Resources Table.

This page contains forward-looking statements. Please see the following link: Legal.

 

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