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VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) — MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or “MAG Silver”) studies manufacturing from Juanicipio (56% / 44% Fresnillo plc (“Fresnillo”) and MAG, respectively) for the fourth quarter (“This fall”) and yr ended December 31, 2023.
This fall Highlights
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- Stable processing efficiency: Juanicipio processed 346,766 tonnes of mineralized materials in This fall, up from 322,249 tonnes in Q3 reflecting ongoing efforts to ramp up manufacturing and optimize operations.
- Strong manufacturing: Juanicipio produced 4.5 million silver ounces and 10,591 gold ounces in This fall.
- Sturdy grades: The typical silver head grade for the quarter was 467 grams per tonne (“g/t”), marginally decrease than the earlier quarter however offset by increased gold and base metallic grades. This continues to exhibit the high-grade nature of the Juanicipio deposit.
- Optionality maintained: Juanicipio continued to capitalise on obtainable milling capability on the Saucito plant (100% Fresnillo owned) to keep up processing charges during times of upkeep. Roughly 5% of the fabric processed throughout This fall was processed by the Saucito plant.
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2023 Full 12 months Highlights
- Processing development: Juanicipio processed a complete of 1,268,756 tonnes of mineralized materials in 2023, exceeding expectations and reaching steerage of reaching nameplate throughout Q3 2023. Constant processing development quarter-on-quarter reflecting the dedication to scaling up operations.
- Report output: Juanicipio produced 16.8 million silver ounces and 36,732 gold ounces in 2023, a stable efficiency in its inaugural and ramp up yr.
- Consistency: The typical silver head grade for the yr was 472 g/t, demonstrating the notable consistency of the Juanicipio deposit and solidifying its place as one of many highest grade silver mines on the earth.
As reported to MAG by the mission operator Fresnillo, mining charges continued to ramp up in the course of the quarter supporting the elevated processing charge of 346,766 tonnes of mineralized materials throughout the Juanicipio and Saucito vegetation. The typical silver head grade for the quarter was 467 g/t, marginally beneath the earlier quarter as mining sequenced by decrease grade. This was mitigated by increased throughput delivering preliminary manufacturing estimates for the quarter, earlier than any changes from offtake agreements, of 4.5 million silver ounces and 10,591 gold ounces. Juanicipio produced 16.8 million silver ounces and 36,732 gold ounces for the yr. MAG expects to launch its complete monetary and operational outcomes on March 19, 2023.
High Tales
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Comparative manufacturing highlights (100% foundation):
| This fall 2023* | Q3 2023* | % Chg | This fall 2022^ | % Chg | FY 2023** | FY 2022^ | % Chg | ||
| Tonnes processed | t | 346,766 | 322,249 | 7.6% | 165,786 | 109.2% | 1,268,756 | 646,148 | 96.4% |
| Head grades | |||||||||
| Silver | g/t | 467 | 523 | -10.7% | 415 | 12.5% | 472 | 520 | -9.2% |
| Gold | g/t | 1.37 | 1.32 | 3.8% | 1.31 | 4.6% | 1.27 | 1.39 | -8.6% |
| Lead | % | 1.3 | 1.3 | 0.0% | 0.8 | 62.5% | 1.1 | 0.9 | 22.2% |
| Zinc | % | 2.4 | 2.3 | 4.3% | 1.6 | 50.0% | 2.1 | 1.7 | 23.5% |
| Manufacturing | |||||||||
| Silver | koz | 4,505 | 4,782 | -5.8% | 1,861 | 142.1% | 16,813 | 9,250 | 81.8% |
| Gold | oz | 10,591 | 9,444 | 12.1% | 5,393 | 96.4% | 36,732 | 22,252 | 65.1% |
| Lead1 | klb | 9,189 | 8,467 | 8.5% | 2,547 | 260.8% | 28,353 | 10,846 | 161.4% |
| Zinc2 | klb | 15,086 | 12,704 | 18.8% | 4,405 | 242.5% | 44,754 | 17,798 | 151.4% |
* Contains materials processed on the Saucito and Juanicipio beneficiation vegetation.
** Contains materials processed on the Fresnillo, Saucito and Juanicipio beneficiation vegetation.
^ Materials processed solely on the Fresnillo and Saucito beneficiation vegetation.
1 Lead recovered to guide focus.
2 Zinc recovered to zinc focus.
“This fall represents the fourth successive quarter of operational developments and step modifications in efficiency at Juanicipio with a steady and constant uptrend in quarterly mining and milling charges,” mentioned George Paspalas, MAG Silver’s President and CEO. “Our focus stays on ongoing optimization as we proceed to execute on our technique of delivering low-cost silver manufacturing, producing strong attributable free money movement and diligent exploration to increase the metallic stock of this very potential property.”
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Certified Particular person: All scientific or technical data on this press launch is predicated upon data ready by or below the supervision of, or has been accepted by Gary Methven, P.Eng., who’s a “Certified Particular person” for functions of Nationwide Instrument 43-101, Requirements of Disclosure for Mineral Tasks (“Nationwide Instrument 43-101” or “NI 43-101”). Mr. Methven isn’t impartial as he’s Vice President, Technical Companies of MAG.
About MAG Silver Corp. (www.magsilver.com)
MAG Silver Corp. is a growth-oriented Canadian exploration firm centered on advancing high-grade, district scale treasured metals tasks within the Americas. MAG Silver is rising as a top-tier major silver mining firm by its (44%) three way partnership curiosity within the 4,000 tonnes per day (tpd) Juanicipio mine, operated by Fresnillo plc (56%). The mine is situated within the Fresnillo Silver Pattern in Mexico, the world’s premier silver mining camp, the place along with underground mine manufacturing and processing of high-grade mineralized materials, an expanded exploration program is in place focusing on a number of extremely potential targets. MAG Silver can be executing multi-phase exploration packages on the Deer Path 100% earn-in Venture in Utah and the 100% owned Larder mission, situated within the traditionally prolific Abitibi area of Canada.
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For additional data on behalf of MAG Silver Corp.
Contact Michael J. Curlook, Vice President, Investor Relations and Communications
Neither the Toronto Inventory Change nor the NYSE American has reviewed or accepted duty for the accuracy or adequacy of this press launch, which has been ready by administration.
This launch consists of sure statements which may be deemed to be “forward-looking statements” throughout the which means of the US Personal Securities Litigation Reform Act of 1995 or “forward-looking data” throughout the which means of relevant Canadian securities laws (collectively, “forward-looking statements”). All statements on this launch, apart from statements of historic info are ahead wanting statements, together with statements that tackle our expectations with respect to the timing and success of the full-scale ramp up of milling actions, provisional estimates referring to manufacturing at Juanicipio for This fall and 2023, processing charges of growth supplies, future mineral manufacturing, and occasions or developments. Ahead-looking statements are sometimes, however not all the time, recognized by means of phrases similar to “search”, “anticipate”, “plan”, “proceed”, “estimate”, “count on”, “might”, “will”, “mission”, “predict”, “potential”, “focusing on”, “intend”, “might”, “may”, “ought to”, “imagine” and related expressions. These statements contain recognized and unknown dangers, uncertainties and different components which will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. Though MAG believes the expectations expressed in such forward-looking statements are primarily based on cheap assumptions, such statements aren’t ensures of future efficiency and precise outcomes or developments might differ materially from these within the forward-looking statements. Elements that might trigger precise outcomes to vary materially from these within the forward-looking statements recognized herein embrace, however aren’t restricted to, a subsequent change within the Firm’s strategy to government compensation from that strategy accepted by Shareholders, failure of the Firm to obtain approval from the Toronto Inventory Change of the renewal of the unallocated entitlements below the Plans, modifications in relevant legal guidelines, continued availability of capital and financing, and normal financial, market or enterprise circumstances, political danger, foreign money danger and capital value inflation. As well as, forward-looking statements are topic to numerous dangers, together with these dangers disclosed in MAG Silver’s filings with the Securities Change Fee (the “SEC”) and Canadian securities regulators. All forward-looking statements contained herein are made as on the date hereof and MAG Silver undertakes no obligation to replace the forward-looking statements contained herein. There is no such thing as a certainty that any forward-looking assertion will come to cross, and buyers shouldn’t place undue reliance upon forward-looking statements.
Please Be aware: Traders are urged to contemplate intently the disclosures in MAG’s annual and quarterly studies and different public filings, accessible by the web at www.sedar.com and www.sec.gov.
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