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Hochschild boosts gold and silver production in second quarter

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(Kitco News) - Hochschild Mining (LSE: HOC) (OTCQX: HCHDF) announced today that in Q2 2021, the company delivered attributable production of 89,381 gold equivalent ounces, up 173% compared to Q2 2020 (32,710 ounces), with another solid performance from the Inmaculada mine and increases at the Pallancata and San Jose mines.

The company’s attributable silver production in Q2 2021 was 3,093,000 ounces compared to 1,124,000 ounces in Q2 2020 and 2,829,000 ounces in Q1 2021, while attributable gold production was 53,420 ounces compared to 19,650 ounces in Q2 2020 and 52,840 ounces in Q1 2021. 

The company said it remains on track to meet its 2021 production target of between 360,000 and 372,000 gold equivalent ounces or between 31.0 and 32.0 million silver equivalent ounces.

Hochschild also reiterated that its all-in sustaining cost for 2021 is on track to be in line with guidance for the year of between $1,210 and $1,250 per gold equivalent ounce (or $14.1 and $14.5 per silver equivalent ounce).

CEO Ignacio Bustamante stated, "The second quarter results have been solid across our operations and we remain on course to deliver our production and cost targets for the year. In addition, drill results have continued to be encouraging at Inmaculada with 29 million silver equivalent ounces of high grade Inferred resources already added in the first half. We have also seen further positive results from the Snip project in Canada. Finally, today we have also announced that we will be holding a capital markets presentation in September which will cover our exciting rare earths project in Chile."

Hochschild Mining is a leading precious metals company with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.

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