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Silver X restarts production at Nueva Recuperada after operational upgrades

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(Kitco News) - Peru-focused silver producer Silver X Mining (TSX-V: AGX) (OTCQB: AGXPF) today announced the resumption of its mining operations at the Nueva Recuperada project, effective immediately.

On July 26, 2023, Silver X reported that it placed operations at the Nueva Recuperada project on hold as the company experienced “unexpected drop in grades” in some mineralized areas, which drove the metal production down.

In a statement today, the company noted that during the brief pause, operational upgrades were completed that expect to enhance efficiency and profitability, including investment in equipment upgrades, workforce training, and safety measures.

Silver X said it seized the opportunity to identify several costs reduction initiatives in key areas such as labour, mining method, mine haulage and milling efficiency. These initiatives are expected to yield improved production rates and decreased unit costs.

"Today marks a significant milestone in Silver X's journey," said CEO José García. "The restart of Nueva Recuperada confirms our commitment to make Nueva Recuperada a profitable operation, based on improved safety standards, efficiency, head grades and costs."

Silver X is a silver developer and producer. The company owns the +20,000-hectare Nueva Recuperada Silver District in Central Peru and produces silver, gold, lead, and zinc from the district's Tangana Mining Unit.

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