SilverCrest Metals President Chris Ritchie joined Steve Darling from Proactive to share news the company has announced its guidance for the Las Chispas Operation in Mexico increasing its expected ounces sold from 9.8 million to 10.2 million. The company's focus is on optimizing its production and expanding its resource base. Additionally, SilverCrest Metals has allocated a $10 million exploration budget from now until the end of Q1 2024. The primary objective of this budget is to convert high-grade inferred resources to reserves, ensuring the long-term viability of its operations. The program will also include targeting earlier-stage opportunities at Las Chispas, aiming to follow up on high-grade intercepts and identify new structures.
This investment in exploration demonstrates the company's commitment to not only maintaining but also growing its resource base. By converting inferred resources to reserves and identifying new opportunities, SilverCrest Metals aims to secure its position as a leading player in the mining industry. The company has also announced the filing of its Independent Technical Report for the Las Chispas Operation. The Report has confirmed strong economics for an eight-year operation generating average annual production of 57 thousand ounces per year and 5.5 million ounces during the first seven full years.