GSilver more than doubles silver production in Q3, looks to 'continue the trend'
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(Kitco News) - On Thursday, Guanajuato Silver (TSXV: GSVR) reported that silver ounces produced during the quarter totaled 329,297 ounces, marking a 111% increase over Q2, while silver equivalent production increased 107% to 700,264 ounces.
The company said that average silver recoveries of 88.5% and gold recoveries of 86.3% match or exceed historic production recoveries and demonstrate the efficiency of the processing facilities at El Cubo and Topia.
Importantly, GSilver noted that significant lead and zinc sales commenced in August 2022 at Topia from which GSilver sells a lead-silver concentrate to Samsung C&T UK Limited, and a zinc-silver concentrate to Ocean Partners UK Limited.
"The dramatic increase in production from Q2 to Q3 of this year reflects the welcomed addition of the San Ignacio mine and the Topia mine into our growing production portfolio," stated Chairman and CEO James Anderson. "Having successfully enhanced our production status, we now look to continue the trend of quarter over quarter increases in mined tonnage, grade, recoveries, and most importantly, silver-equivalent ounces produced."
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico, which has an established 480-year mining history. With five mines and three processing facilities, the company indicated it is one of the fastest growing silver producers in Mexico.
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