SilverCrest Records 31-percent Increase in Silver Production for Q1

SilverCrest Mines Inc. (TSX:SVL,NYSEMKT:SVLC) announced its Q1 2014 production results, commenting that it put out 201,101 ounces of silver and 7,545 ounces of gold. Those are increases of 31 and 4 percent, respectively.

The company plans to release its first-quarter financial results on May 15, 2014.

Other highlights include:

  • Silver equivalent production of 653,801 ounces; a 17% increase.
  • Waste to ore ratio of 0.94 was consistent with the mine plan; a 78% decrease.
  • Ore Tonnes crushed decreased 21% to 200,982 tonnes with throughput averaging 2,233 tpd.
  • Average grades loaded on pad increased from 62.1gpt to 86.8 gpt (40%) for silver and from 1.54 to 1.79 gpt (16%) for gold.

N. Eric Fier, president and COO of SilverCrest, commented:

During the first three months of 2014, Santa Elena experienced lower ore and waste tonnes mined from the open pit as it approached the end of its mine life. However, metal production exceeded corporate guidance projections for the quarter. The Company continues to focus on the completion stages of the Santa Elena Expansion Plan which should significantly increase our annual precious metal production starting in mid-2014. The recently announced pit closure at Santa Elena may have some impact on Q2 production but SilverCrest maintains the previously announced 2014 corporate production guidance of 3.3 to 3.6 million ounces AgEq (60:1).

Click here to read the full SilverCrest Mines Inc. (TSX:SVL,NYSEMKT:SVLC) press release.