(Kitco News) - Bear Creek Mining (TSXV: BCM) announced today that the company produced 13,710 ounces of gold from the Mercedes gold-silver mine in Q4 2022, up 23% from Q3 2022 and exceeding guidance of 12,500 to 13,500 ounces.
The company also reported that new high-grade vein discovered by underground drilling in Marianas zone with an intersection of 89.1 g/t gold and 192 g/t silver over 0.8 meters.
Importantly, Bear Creek said that development work at Rey de Oro and Marianas progressed which will allow higher-grade zones to contribute to production in 2023.
CEO Anthony Hawkshaw stated, "I am pleased to report that gold production for Q4 2022 exceeded the 12,500 to 13,500 ounces anticipated and represented a 23% increase from Q3 2022 production of 11,169 ounces. We expect to continue this trend in Q1 2023 and report improved production numbers during 2023 once ore is mined from the higher grade sections of Rey de Oro, San Martin and Marianas.
"Exploration efforts during Q4 2022 rewarded us with the discovery of a new high-grade vein in Marianas and proved the extension of a known vein. We look forward to providing additional drill information from this zone in the second and third quarters of 2023."
Bear Creek Mining is a precious metals producer. The company indicated that its wholly owned Corani silver-lead-zinc deposit in Puno, Peru is one of the largest fully permitted silver deposits in the world. The company also owns Mercedes gold-silver mine in Sonora, Mexico, which was acquired in April 2022.
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