Altaley Mining Corporation (TSX-V:ATLY) CEO & president Ralph Shearing has told investors that the miner's "Campo Morado operations are reporting another excellent quarter with estimated revenue of $17.4 million for the third quarter of 2021".
In a Q3 production statement for the mine, which is in Guerrero state, Mexico, Shearing added: "Although head grades of mineralization during Q3 2021 were slightly lower and to improve productivity a planned shut down for the SAG mill liner change out and planned mill maintenance interrupted production over several days, revenues achieved were only 6% lower when compared to Q2 2021."
The Canada-based miner, which has two wholly-owned Mexican gold, silver, and base metal mining projects, said total net revenues from Campo Morado in the quarter ending September 30, 2021, eased to C$17.4 million from C$18.5 million in the preceding quarter after the maintenance work disrupted production over several days.
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Campo Morado is an operating polymetallic base metal mine with mining and milling equipment currently producing at an average of 2,100 tonnes per day and is currently estimated to be Mexico's sixth-largest zinc producer.
Net revenues from Campo Morado for zinc concentrate in the third quarter fell by 7% to C$4.761 million from C$15.798 million in the previous quarter while the corresponding figures for lead concentrate eased by 1% to C$2.658 million from C$2.682 million, Altaley said.
Average head grades of mineralization for lead and zinc in the third quarter were down 3% respectively compared with the previous quarter. For gold, average head grades dropped 12% while for silver they rose 3%, the company added.