Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) has reported a quarter-over-quarter jump in productivity in terms of tons of material processed at its Zimapan mine in Mexico, driven by operational improvements at the site.
During the fourth quarter, the mine processed 204,507 tons of material, a 6% increase from the previous quarter.
“The improved production results in the fourth quarter at the Zimapan mine are a direct result of the comprehensive management and operational restructuring carried out in September and October,” Santacruz Silver’s interim CEO Arturo Préstamo highlighted in a statement.
“The objective of this restructuring process was to enhance production tonnage and operational efficiency across both mines and the mill. Further efficiencies are expected to be captured in 1Q 2024."
In total across the company’s Bolivar mine, Porco mine, Caballo Blanco Group of mines and San Lucas feed sourcing business, all located in Bolivia, and the Zimapan mine in Mexico, Santacruz Silver produced 5.7 million ounces of silver equivalent during the quarter.
This included 1.7 million ounces of silver, 23,777 tons of zinc, 3,129 tons of lead and 290 tons of copper.
Another highlight of 4Q was the completion of the integration ramp connecting the Tres Amigos and Colquechaquita mines on time and on budget at the company’s Caballo Blanco Group of mines in Bolivia.
“The 1,177-meter ramp was designed to facilitate increased productivity and safety at both the Colquechaquita and Tres Amigos mines, and is expected to contribute to overall production improvements at Caballo Blanco,” Préstamo commented.
For the full year, Santacruz Silver reported metals production of 22.6 million ounces of silver equivalent, including 7 million ounces of silver, 91,616 tons of zinc, 2,366 tons of lead, and 1,254 tons of copper.
The company noted that it continues to advance its National Instrument 43-101 technical report for its assets which is expected to be completed by the end of the first quarter.
Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties in Latin America.