SilverCrest declares commercial production at Las Chispas

Vancouver’s SilverCrest Metals (TSX: SIL) has declared commercial production at a mine in Las Chispas, Sonora, Mexico, effective on Nov. 1, 2022.

According to the company, the declaration comes after the processing plant showed results of two months of operating at 80% of its name plate capacty of 1,250 t/d (or 1,000 t/d) and showed a combined gold and silver recovery rate of greater than 85%.

The commissioning period was from Sept. 1 through Oct. 31, when the plant processed 62,146 tonnes of ore for an average of 1,019 t/d. For the same period, the metallurgical recovery averaged 96.7% silver-equivalent.

Construction of the processing plant at Las Chispas was initiated in February 2021 and was completed on time and on budget in May 2022 with a target of declaring commercial production in by the end of this year.  The underground mine is also progressing its ramp-up with a target to exit 2022 at a rate of 600 to 700 t/d.

N. Eric Fier, CEO commented, "Moving Las Chispas from discovery to production in less than seven years is a monumental achievement. We are extremely proud of the dedication and execution from all involved. We now look forward to finishing our ramp-up to designed levels, generating revenue with subsequent free cash flow, and releasing an updated technical report in H1, 2023."

For more information visit www.SilverCrestMetals.com.