Vancouver, B.C. MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) is pleased to announce that commercial production has been achieved at the Juanicipio Project (56% / 44% Fresnillo plc (“Fresnillo”) and MAG, respectively) effective June 1, 2023.
Following a successful commissioning period, the Juanicipio mine, processing facility and other vital systems are operating in line with, or rapidly approaching design capacity. The Juanicipio mill is operating at approximately 85% of its design capacity of 4,000 tonnes per day (“tpd”) with silver recovery consistently above 88%. On a 100% basis, approximately 3.2 million ounces of silver have been produced from the Juanicipio processing facility from March 2023 to the end of May 2023, and production is expected to continue to increase steadily through Q3 where it is envisioned the plant will be running at design capacity. All major construction activities have now been completed and Juanicipio is demonstrating its ability to sustain ongoing production levels. The operations team is continually seeking opportunities to improve and optimize the mine, plant and other critical systems to achieve and potentially exceed design capacities.
“Reaching this important milestone of commercial production at Juanicipio completes our transformation from developer to producer,” said George Paspalas, President and CEO of MAG Silver. “Today marks the beginning of a very exciting and dynamic growth phase for MAG as we combine stable, high-margin silver production with the ongoing high-grade exploration potential that has made and continues to make MAG so unique.”
About MAG Silver Corp. (www.magsilver.com)
MAG Silver Corp. is a growth-oriented Canadian development and exploration company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district scale, precious metals projects in the Americas. Its principal focus and asset is the 4,000 tonnes per day Juanicipio Project (44%), operated by Fresnillo Plc (56%). The project is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, where in addition to underground mine production and processing of mineralized material, an expanded exploration program is in place targeting multiple highly prospective targets. MAG is also executing multi-phase exploration programs at the Deer Trail 100% earn-in Project in Utah and the Larder Lake Project, located in the historically prolific Abitibi region of Canada.
For further information on behalf of MAG Silver Corp.
Contact Michael J. Curlook, Vice President, Investor Relations and Communications
Phone: (604) 630-1399
Toll Free: (866) 630-1399
Website: www.magsilver.com |
