Great Panther Silver Announces 19% Increase in Metal Production 2013
Vancouver, British Columbia, January 14, 2014. Great Panther Silver Ltd. (TSX: GPR; NYSE MKT: GPL; WKN: A0Y H8Q) (“the Company”) today announced fourth quarter and full year 2013 production results from its two wholly owned Mexican silver mines, Guanajuato and Topia.
Highlights 2013 (compared to 2012)
• The processed ore increased by 23% to a record of 283.608 tons;
• Record metal production of 2.840.845 ounces of silver equivalent (“oz Ag-Eq”) was achieved, an increase of 19% and an annual record;
• Silver production rose 10% to a record 1.711.215 ounces of silver (“oz Ag”); and
• Gold production rose 44% to a record 15.714 ounces (“oz Au”).
Highlights of the fourth quarter (compared to the fourth quarter 2012)
• The processed ore increased by 3% to 69.601 tons;
• metal production increased by 14% to 763.881 oz Ag-eq;
• silver production increased by 7% to 484.936 oz Ag; and
• Gold production increased by 37% to 3.880 oz Au.
"We are excited to report strong growth and record metal production for 2013, in addition to a strong fourth quarter with record silver production," said Robert Archer, President and CEO. “Consolidated metal production from our two operations exceeded our production target for the year by 14%. Silver grades continued to improve in the fourth quarter as a result of continued strong grade control and the focus on mining in higher grade areas. "
“I'd like to thank the operations teams at Guanajuato and Topia for delivering exceptional results. While the industry continues to grapple with a difficult metal price environment, continued improvements in efficiency, salary control and cost reductions at our operations, along with the expected start of production at San Ignacio, have seen great growth prospects for Great Panther in 2014. "
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/GPS_150114_DE.pdf
(1) 2013 silver equivalent ounces were calculated in November 2012 using prices of USD 28 / oz, USD 1.680 / oz (ratio of 60: 1), USD 0,85 / pound and USD 0,85 / pound for silver, Gold, Lead & Zinc for the recoverable metal content of the concentrates produced in the two plants.
Guanajuato Mine Complex
In the fourth quarter, the Guanajuato operation processed 4 t, a 55.547% increase over the same period in 10. The ore grades were 2012 grams / ton (“g / t”) silver and 202 g / t gold. Metal production was a record 2,26 oz of silver and 330.949 oz of gold, or 3.750 oz of Ag-eq, an increase of 555.933% over the same period in 21.
The metallurgical performance of the plant was the highest that the company has achieved on a quarterly basis. Metal yields were 91,7% for silver and 92,9% for gold.
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/GPS_150114_DE.pdf
(1) 2013 silver equivalent ounces were calculated in November 2012 using prices of USD 28 / oz, USD 1.680 / oz (ratio of 60: 1), USD 0,85 / pound and USD 0,85 / pound for silver, Gold, Lead & Zinc for the recoverable metal content of the concentrates produced in the two plants.
The Cata and Santa Margarita mines of the Guanajuato Mine Complex stand out in terms of metal production and grades. In addition, the metal production and grades of the Los Pozos Mine have improved due to mineral resource reinterpretation and mine exploration development. The silver levels have consistently improved over 2013, but the average salary was still below that of the 2012. The gold grades in the 4. The quarter and full year showed remarkable improvements compared to last year, mainly due to the increased production of the gold-rich Santa Margarita mine.
Exploration development during the quarter resulted in significant silver-rich intersections in the upper levels of the mineral resources of Santa Margarita, Los Pozos and Guanajuatito. As a result, mine production from these areas has played an important role in improving silver grades and increasing metal production.
Following the upgrade of the Guanajuatito Mineral Resource, the access ramp has reached the 268m level and is expected to reach the 285m level in the current quarter to begin production. In addition, a transverse exploration cut was made from the Cata main ramp at the 540 m level to intersect and further define the ore structure projection down to depth as shown in the most recent exploration drilling results.
The Rayas Bay of Guanajuato has normal operation in 4. Resumed after the quarterly repair project, reducing the time it takes for staff to move to workplaces and improving operational efficiency. After the end of 4. Quarters have begun repair work on Cata Schacht. The repair project was planned so that the ore transport can continue.
Topia mine
In the 4th quarter, the ore processed at Topia decreased by 18% to 14.054 t compared to the same period in 2012. The grades were 376 g / t silver, 0,49 g / t gold, 2,17% lead ("Pb" ) and 3,07% zinc (“Zn”). Metal production amounted to 153.988 oz Ag, 131 oz Au, 286 t Pb and 402 t zinc or a total of 207.948 oz silver equivalent, a decrease of 3% over the same period in 2012. The facility's metallurgical performance improved with metal recoveries of 90,6% for silver, 58,6% for gold, 93,8% for lead and 93,2% for zinc.
To view the full press release please follow the link:
http://www.irw-press.com/dokumente/GPS_150114_DE.pdf
(1) 2013 silver equivalent ounces were calculated in November 2012 using prices of USD 28 / oz, USD 1.680 / oz (ratio of 60: 1), USD 0,85 / pound and USD 0,85 / pound for silver, Gold, Lead & Zinc for the recoverable metal content of the concentrates produced in the two plants.
In the quarter, Topia's metals production came primarily from the 1522, Durangueno and Argenina mines. Production Strossenbau along the silver-rich San Gregorio and El Rosario veins made a significant contribution to the production and the contents. The silver grades increased by 18% over the same 2012 period. The mine exploitation continues to face challenges in terms of veins' ore consistency and unsuitable bedrock, increasing dilution. Operation focuses on areas with consistently higher grades and better core widths.
The processing plant has been improved by installing a new cone crusher. As a result, the crushing capacity of the plant is increased, the size of the ore spent to the mill is reduced and also the maintenance costs. In addition, some cranes were installed at the processing plant to perform maintenance and improve efficiency.
Topia's tailings dam will undergo geotechnical studies including geological, geophysical and soil mechanics surveys aimed at providing guidance on increasing the settling pond capacity. This study is intended in 1. Quarter 2014 be completed.
San Ignacio Project
By the end of the fourth quarter, more than 130 m development had been completed at the San Ignacio access ramp. Ramp development was delayed due to the presence of loose rock in conjunction with a break that required additional rock protection.
However, the breach exposed a section of the intermediate vein, the primary production target, and created an exploration level from the access ramp to define mineralization from that height. By the end of the quarter, 1.082 tons of ore grading 121 g / t Ag and 2,11 g / t Au were mined and shipped to the processing plant at Guanajuato. The ore is stored until a sufficient amount for a processing campaign is achieved to test the metallurgical properties of the ore. Additional exploration crosshatches are struck from the access ramp at various levels to confirm the continuity of the intermediate vein in depth.
Significant progress has been made at San Ignacio regarding the supporting surface infrastructure. The access road to the mine's portal has been completed, a diesel fueling station has been installed on-site to supply the mine equipment, and the construction of the electrical distribution station is in progress. The landfill has been completed and the mechanical services workshop is under construction. In addition, water and compressed air pipes were laid to supply the mine equipment.
A fill-in drill program was completed in the fourth quarter to update the upper part of the intermediate vein (see 17 December 2013 news release for more details).
El-Horcon project
An estimate of the inferred mineral resources for the Diamantillo, Diamantillo HW, San Guillermo and Natividad veins, comprising a total of 214.402 tonnes of 3,22 g / t gold, 68 g / t silver and 2,36% lead, has been completed (see news release from 22, October 2013). It will continue to seek the necessary government approvals to facilitate further exploration and development. The project has the potential to become a satellite operation of the Company's Guanajuato Mine and to balance the free capacity of the Cata Processing Plant.
outlook
All of 2014's metal production is expected to increase gradually during the year as San Ignacio goes into operation. The project is expected to start production in the first half of 2014 at a rate of 100 tonnes per day, which is expected to increase to 250 tonnes per day by the end of the year. Add to this a consistent production of the Guanajuato Mine Complex and the Topia Mine, and the company expects to increase its total production of 2014 by about 10% to 3,1 to 3,2 million oz AgEq.
As 2013 precious metal prices fell sharply, the company has increased its focus on improving and improving the operational efficiency of its mine. Cash cost planning will be published in our release on the year-end results, which is expected in early March.
About Great Panther
Great Panther Silver Limited is a primary silver production and exploration company listed on the Toronto Stock Exchange under the symbol GPR and on the NYSE MKT under the symbol GPL. The company operates two wholly owned mines in Mexico - Topia and Guanajuato. Great Panther is also in the process of developing its San Ignacio project with a start of production in the first half of 100 and has two exploration projects - El Horcon and Santa Rosa. The company is also pursuing other mining opportunities in Latin America with the aim of expanding its portfolio of mineral projects.
For more information, visit the company's website at www.greatpanther.com.
This release contains forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (collectively, "forward-looking statements"). Such forward-looking statements may include, but are not limited to, the production plans at the Guanajuato and Topia mines in Mexico, the plans to explore the other properties in Mexico, the total economic potential of the properties, and access to adequate financing. In addition, they could involve known and unknown risks, uncertainties and other factors that could cause actual results, performance and achievements to differ materially from those announced or implied in such forward-looking statements. Such factors include, but are not limited to, risks and uncertainties related to possible political risks in the Company's operations in foreign jurisdictions, uncertainties in estimates of production and costs and possible unexpected costs and expenses, physical risks in mining, currency fluctuations, fluctuations in prices for Silver, gold and base metals, the completion of economic valuations, changes in project parameters in optimizing the plans, the inaccessibility or failure to secure adequate financing on time, and other risks and uncertainties, including those detailed in the company's annual report for December 31 Year ended December 2012, 40 and in the reports of material changes filed with the Canadian Securities Administrators and available at www.sedar.com and in the reports filed with the Securities and Exchange Commission and available at www.sec.gov hte on Form 6-F and Form XNUMX-K
The content of the press release is the sole responsibility of the company. It has not been audited by the TSX Venture Exchange or any third party. The German version may be shortened or summarized. No responsibility or liability is accepted for the content, accuracy, adequacy or accuracy of this translation. From the perspective of the translator, the message does not constitute a purchase or sale recommendation! Please see the original English report on www.sedar.com or www.sec.gov or on the company website!
For more information, please contact:
Robert Archer
President and Chief Executive Officer
1-888-355-1766
Rhonda Bennetto
Vice President Corporate Communications
1-888-355-1766
German investors:
Metals & Mining Consult Ltd.
Tel: 03641 / 597471
No liability is assumed for the accuracy of the translation! Please note english original message!
Source: IRW-Press.com.
