San Sebastian Mine Produced 441,079 Ounces Of Silver In Q1
COEUR D’ALENE, ID - Hecla Mining Company reported that the San Sebastian Mine in Mexico produced 441,079 ounces of silver and 3,530 ounces of gold in the first quarter, compared to 512,192 silver ounces and 4,513 gold ounces in the prior year period. The decreases were due to lower grades, as expected, upon transitioning to increased throughput coming from underground mine material, versus higher-grade open pit. The mill operated at an average of 494 tpd in the first quarter, a 29% increase over the first quarter of 2018. A review of the sulfide ore continues, including a bulk sample to test the capabilities of the third-party plant and the suitability of long-hole stoping for the ore body, with results expected by the fourth quarter of 2019.
San Sebastian is a silver and gold mine, and began mining ore in December 2015. Hecla’s concession holdings at San Sebastian are located in the middle of the prolific Mexican Silver Belt and cover approximately 42,000 hectares (162 square miles). Within this land position is the Francine Vein, Hugh Zone, Middle Vein and Don Sergio-Andrea vein systems as well as multiple prospective exploration targets.
Last year, San Sebastian produced 2.0 million ounces of silver at a cash cost, after by-product credits, per silver ounce of $9.69 (a non GAAP measure) and 14,979 ounces of gold. (1). The mill operated at an average of 395 tpd for the year. Silver production in 2018 is expected to be 2.0 million silver ounces at a cash cost, after by-product credits of $9.00 an ounce (1) and gold production is expected to be 14,,000 ounces.
The company’s address is 6500 North Mineral Drive, Suite 200, Coeur d’Alene, ID 83815-9408, (208) 769-4100, www.hecla-mining.com.