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Guanaceví //

Guanaceví is located 260 kilometres northwest of the city of Durango, in Mexico’s fifth-largest silver mining district, and covers approximately 4,200 hectares. Guanaceví is accessible by state highway and municipal roads, and features good local infrastructure, including power from the state power grid and skilled local labour readily available in the nearby town of Guanaceví. The mining district is characterized by multiple low-sulphidation epithermal veins, typically thousands of metres long, up to 700 metres deep, ranging from one to five metres thick.

Since acquiring the property, we have discovered seven high-grade silver-gold ore bodies along a six kilometre length of the Santa Cruz vein, developed several new mines, and modernized and expanded the processing plant. Today, three underground mines feed the central, 1,200 tonne-per-day plant that produces doré bars. The mine provides steady employment for 480 people and engages 428 contractors. During 2017, silver production at Guanacevi was 2,066,448 oz and gold production was 4,740 oz for silver equivalent production of 2.4 million oz (using a 75:1 silver: gold ratio). Silver equivalent production met revised guidance but was below original guidance due to lower throughput resulting from mine flooding, related to an incursion of hot water and power outages from power grid problems and a lightning strike that caused pumps to fail. Additionally, slower mine development due to narrower vein widths than modeled also contributed to lower mine output. Initial production from the Milache and Santa Cruz Sur orebodies by the end of 2018 should help boost future throughput and grades at Guanacevi. Additionally, a new productivity optimization program was launched at the start of 2018 which will lead to additional operational improvements throughout the year.

2017 Results

Production 2.1 million oz Ag / 4,740 oz Au
2.4 million oz Ag Eq (75:1 silver:gold)
Ore Tonnes Processed 321,113/ 880 tpd
Grades silver 230 gpt, gold 0.53 gpt
Recoveries silver 87%, gold 86.6%
Cash Costs per Ounce $13.41
All In Sustaining Costs per Ounce $22.87

Reserves and Resources: Silver

  • 2.4 million oz silver
    Proven & Probable Reserves
  • 19 million oz silver
    Measured & Indicated Resources
  • 9.8 million oz silver
    Inferred Resources

Reserves and Resources: Gold

  • 5,500 oz gold
    Proven & Probable Reserves
  • 45,700 oz gold
    Measured & Indicated Resources
  • 21,600 oz gold
    Inferred Resources
*for full details, refer to the complete Reserves and Resources table found here

Guanaceví is our highest-grade silver mine.

Map Guanacevi