InvestmentPitch.com has produced a "video news alert" about SilverCrest Mines.
posted on
Oct 16, 2014 11:21AM
Acquisition & Production of high grade, low cost Silver resources - Mexico & El Salvador
Vancouver, British Columbia--(Newsfile Corp. - October 16, 2014) - SilverCrest Mines (TSX: SVL) (NYSEMKT: SVLC) announced record silver and gold production numbers for the third quarter of 2014 from its Santa Elena Mine.
InvestmentPitch.com has produced a "video news alert" about SilverCrest Mines. If this link is not enabled, please visit www.InvestmentPitch.com and enter "SilverCrest" in the search box.
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The 100% owned Santa Elena Mine, located in the State of Sonora, Mexico, is a high-grade, epithermal silver and gold producer, which is in the process of finalizing the transition from an open pit heap leach to a conventional 3,000 tonne per day mill facility and underground operation.
Highlights of the 3rd quarter of 2014 versus the 3rd quarter of 2013 include:
N. Eric Fier, President and COO stated: "Santa Elena's third quarter 2014 silver equivalent production was significantly higher than the second quarter 2014 as a result of the successful commissioning of the new processing facility. Our current operational focus is to optimize ball mill grind size in efforts to achieve throughput tonnages at or above the nameplate capacity of 3,000 tonnes per day and manage the short-term delays related to the first underground stope production. Metal production for the first three quarters of 2014 was 1.9 million silver equivalent ounces and it is expected to significantly increase in the fourth quarter to enable us to meet our revised 2014 metal production guidance between 3.0 to 3.3 million silver equivalent ounces. Free cash flow at current metal prices is anticipated in late Q3 and Q4 2014."
As part of the Santa Elena organic growth plan, exploration drilling has started at the Durazno Target located approximately 7 kilometres southeast of the mine site. Current plan is to drill 6 to 7 core holes, estimated at 2,000 metres, to test outcropping, widespread epithermal mineralization in several identified areas. Results from this initial program will be reported as information becomes available.
Exploration programs have rapidly advanced the definition of a large polymetallic deposit at the La Joya property in Durango State, Mexico.
SilverCrest currently trades at $1.64 on the Toronto Stock Exchange, and with 118.8 million shares outstanding, the company is capitalized at $194.8 million.
The company has scheduled the release of its unaudited 3rd quarter financials and MD & A for after the close on the 12th of November, with a conference call scheduled for 10:00 am PDT on Thursday the 13th.
For more detailed information please refer to today's news release on the company's website www.silvercrestmines.com, or contact Fred Cooper at 1-866-691-1730 ext 108 or email info@silvercrestmines.com.
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