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(Kitco News) - Santacruz Silver (TSX-V: SCZ) announced on Wednesday that in Q1 2023, the company produced 5,644,383 silver equivalent ounces from its mines in Bolivia and Mexico, which compares to 1,613,720 ounces produced in Q1 2022 and 5,744,128 ounces produced in Q4 2022.
The company said that production at the Bolivian operations has been steady over the past two quarters, with production flexibility at each operation contributing to consistent output, adding that during the first quarter of 2023, the Zimapan mining complex in Mexico experienced a considerable increase in copper recoveries.
CEO Carlos Silva stated, "We started the year with solid production from all of our assets and are committed to improving operational efficiencies at all our mines, the San Lucas trading company and supporting areas.
"We are also working closely with JDS Engineering & Mining to complete NI 43-101 compliant Resource and Reserve Estimates for all our producing mines in Mexico and Bolivia, which will provide us with additional life of mine planning information. These reports are expected to be released during the third quarter of this year."
Santacruz is engaged in the operation, acquisition, exploration, and development of mineral properties in Latin America, with a primary focus on silver and zinc, but also including lead and copper.
The company currently has six producing projects, the Zimapan, Bolivar, Porco, Tres Amigos, Reserva and Colquechaquita mines and holds two exploration properties in its mineral property portfolio, the La Pechuga property and the Santa Gorgonia prospect, and one development project, the Soracaya project in addition to the San Lucas ore sourcing and trading business.
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