SSR Mining Reports Production Results

VANCOUVER - Paul Benson, President and CEO of SSR Mining Inc. said, "We delivered our strongest quarter of the year with consolidated gold equivalent production of nearly 95,000 ounces, breaking records at Marigold in Nevada, and Seabee in Canada, while continuing to optimize production and advancing the Chinchillas project at Puna Operations.  With all three operations performing well, we look forward to meeting or exceeding annual guidance for the seventh consecutive year."

In the third quarter of 2018, the Marigold mine produced 58,459 ounces of gold, an 18% quarterly increase, benefitting from the record ore tonnes stacked in the second quarter.  Gold sales totaled 59,612 ounces for the quarter due to strong production and a decrease in bullion inventory. 

During the quarter, a record 21.3 million tonnes of material were mined, a 33% increase compared to the second quarter, due to four additional haul trucks entering service during the quarter, shorter haul distances and improved equipment availabilities.

Approximately 6.9 million tonnes of ore were delivered to the heap leach pads, at a gold grade of 0.32 g/t. This compares to 7.9 million tonnes of ore delivered to the heap leach pads at a gold grade of 0.42 g/t in the second quarter of 2018.  The strip ratio was 2.1:1 for the quarter.

Seabee Gold Operation produced a record 27,831 ounces of gold in the third quarter, a quarterly increase of 18%, driven by higher average mill feed grade and increased mill throughput.  Gold sales in the quarter were 29,175 ounces, 42% higher than the second quarter. 

The mill achieved an average throughput of 959 tonnes per day, a 4% quarterly increase reflecting a higher mining rate at the Santoy mine.  Gold recovery for the quarter remained consistent at 97.1%.

During the third quarter of 2018, Puna Operations produced 0.7 million ounces of silver and 3.2 million pounds of zinc, reflecting a shift to processing of stockpiles with higher zinc content.  Silver sales were 0.6 million ounces for the quarter, marginally lower than production.  We re-commenced zinc concentrate sales during the third quarter, selling 0.4 million pounds with a ramp-up in zinc sales anticipated through the fourth quarter. 

Ore was milled at an average rate of 3,348 tonnes per day in the third quarter, 23% below the second quarter, due to planned major mill maintenance occurring in July and test processing of Chinchillas ore.  Ore milled in the third quarter contained an average silver grade of 96 g/t, 13% lower than the 110 g/t average silver grade in the second quarter, consistent with processing of increasingly lower grade stockpiles.  The average silver recovery in the third quarter was 70%, a 3% improvement compared to the previous quarter. 

The company’s address is Suite 800, 1055 Dunsmuir Street, PO Box 49088, Vancouver, BC V7X 1G4, (604) 689-3846.