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(Kitco News) - Guanajuato Silver (TSXV: GSVR) (OTCQX: GSVRF) today reported record quarterly production of 941,338 silver-equivalent ounces in Q2 2023, which reflects the continuing ramp-up of operations at all of the company's mining assets.
The company said that its consolidated silver production increased 4% to 477,650 ounces in Q2 2023 compared to 458,803 ounces in Q1 2023; similarly, consolidated gold production increased by 7% to 4,719 ounces over the same period.
However, overall lead and zinc production at Topia decreased by 3.4% and 22.2%, respectively, in Q2 2023 from Q1 2023 primarily due to a shift to targeting mineralized material that contained higher grades of silver and gold versus base metals.
Chairman and CEO James Anderson commented, "We are proud to announce our sixth consecutive quarter of increased precious metals production; we expect this trend to continue as we head into the second half of the year. During Q1 and Q2, we have implemented a number of efficiency upgrades that are now poised to generate significant improvements to production grades and volumes, as we look to optimize mine production at all four of our producing silver mines.
“Furthermore, we continue to pursue additional opportunities to grow our production portfolio as we move towards becoming Mexico's next mid-tier silver producer."
GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The company owns El Cubo mines complex, Valenciana mines complex, and San Ignacio mine in Guanajuato, Mexico, and the Topia mine in Durango, Mexico.
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