Great Panther Mining Limited has provided its production results for the third quarter of 2021, the gold and silver producer focused on Latin America owns three mines: Tucano in Brazil, and Topia and the Guanajuato Mine Complex (GMC) in Mexico.
The precious metals miner reached a consolidated production of 22,444 gold equivalent ounces for the period.
Included in that tally are 18,423 gold ounces and 280,245 silver ounces.
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For the quarter which ended on September 30, 2021, the company reported total gold production from Tucano in Brazil of 16,325 gold ounces. While silver output from the Mexican Topia project rang in at 242,028 silver equivalent ounces.
At the company’s Guanajuato mining complex total silver equivalent production totaled 278,073 silver equivalent ounces.
In the 3Q report, the miner also noted that pushback activities at Urucum Central South (UCS), which is part of the Tucano property, were completed in late September.
"Third quarter production was lower than planned primarily because of low ore tonnage from Tucano,” Rob Henderson, President and CEO of Great Panther said in a statement.
Henderson continued: “The Tucano mine contractor experienced maintenance issues, which led to poor fleet availability, resulting in lower mined tonnage and a delay in the completion of the UCS pushback activities."
Additionally, 3Q saw precipitation levels in northern Brazil rise by about 25% compared to historical averages. In September, the company detected movement in the west wall of the UCS pit and suspended work for four days until conditions were deemed stable to ensure the safety of the workers on site.
As the company CEO and president explained, “significantly higher-than-average rainfall” contributed to the UCS delay.
“The pushback at UCS is now complete and we are working with our mine contractor to resolve equipment availability issues,” he said. “During the quarter, we stayed the course, however, and continued investing as planned. Stripping activities at TAP AB are advancing and we are executing on our extensive exploration program to position Tucano for future growth and production."
Great Panther is now in the process of having vertical drains installed in the west wall of the UCS pit to reduce water levels. The drains are expected to be in place by late November in preparation for the rainy season, typically the first half of the year.
A new mine design has also been implemented allowing mining activities to safely continue on the east side of the UCS pit.
Currently, the precious metals miner is in the process of reviewing its forecast for the remainder of the year to assess whether adjustments to the 2021 consolidated production and/or cost guidance are required.
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