Focused on Operational Excellence
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 the 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 the following:
- Mineral reserves: Proven Mineral Reserves of 48.1 million ounces of silver at an average grade of 180.8 g/t and 93 million pounds of zinc at a grade of 0.51%. Probable Mineral Reserves of 25.9 million ounces of silver at an average grade of 169.1 g/t and 109 million pounds of zinc at 1.03%.
- Delivered strong production in 2013: Produced 8.2 million ounces of silver and 27.0 million pounds of zinc, exceeding annual zinc production guidance.
- 2014 Production guidance: Anticipated 2014 production of between 8.2 and 8.6 million ounces of silver and between 25 and 30 million pounds of zinc.
- Expected production during the period 2015 – 2018: At full production, the mine is expected to produce an average of 8 to 10 million ounces of silver and 10 to 12 million pounds of zinc annually, ranking Pirquitas among the largest primary silver mines in the world.
- Exploration: Drilled approximately 53,000 meters at Pirquitas during 2012, aggressively exploring the Cortaderas target area where an Indicated Resource containing 15.6 million ounces of silver was defined with an average grade of 137 g/t silver and 5.1% zinc, along with an Inferred Resource containing 14.1 million ounces of silver, with an average grade of 162 g/t silver and 5.4% zinc. Mineral Resources are reported above a 50 g/t silver cut-off.
Andrew W. Sharp, B.Eng, FAusIMM, an employee of the company, and Jeremy D. Vincent, B.Sc. (Hons), P.Geo. are the Qualified Persons for the Mineral Reserves and Resources respectively and have approved the foregoing disclosure on the Pirquitas Mine. Mr. Vincent was an employee of the company at the time the technical report entitled "NI 43-101 Technical Report on the Pirquitas Mine, Jujuy Province, Argentina" dated December 23, 2011 was filed. 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 above. Please refer to the Company's news release dated February 28, 2013 for details on the Cortaderas target area Mineral Resource.
This page contains forward-looking statements. Please see the following link: Legal.