MAG Silver Reports Third Quarter Production From Juanicipio
VANCOUVER, British Columbia, Oct. 26, 2022 -- MAG Silver Corp. (TSX / NYSE American: MAG) ("MAG" or the "Company") is pleased to report third quarter ("Q3") metal production from the Juanicipio Project (56% / 44% Fresnillo plc ("Fresnillo") and MAG, respectively). As reported to MAG by the project operator Fresnillo, on a 100% basis, 180,807 tonnes of mineralized material from both underground development and initial stopes were processed during the three months ended September 30, 2022 at an average head grade of 513 silver grams per tonne.
Total Juanicipio production for the quarter, based on provisional estimates before offtake agreement adjustments, totaled 2,617,146 silver ounces and 5,422 gold ounces (MAG's attributable 44% interest: 1,151,544 silver ounces and 2,386 gold ounces). MAG expects to release its full financial and operational results on November 14, 2022.
Mineralized material from Juanicipio continues to be processed through the nearby Saucito and Fresnillo beneficiation plants (100% owned by Fresnillo). Approximately 70% of the tonnes processed in Q3 were processed at the Saucito beneficiation plant which better resembles that of the Juanicipio plant and provides valuable metallurgical information as we look forward to production commencement at Juanicipio. As previously reported to MAG by Fresnillo, power for final commissioning and start of operations should be available by the end of October, and production ramp up will commence in Q4 of this year.
- Category: Silver / Gold
- Published: 27 October 2022
- Written by Editor