Minera mines 1.8 million ounces AgEq at San Jose in Q1
2010-04-21 13:57 ET - News Release
Mr. Jim Duff reports
MINERA ANDES ANNOUNCES FIRST QUARTER 2010 SAN JOSE MINE PRODUCTION
Minera Andes Inc. is releasing production results from its 49-per-cent-owned San Jose mine in Santa Cruz province, Argentina. Overall production at the San Jose mine during the first quarter of 2010 was 823,000 ounces of silver and 16,430 ounces of gold, of which 49 per cent is attributable to Minera Andes.
First quarter 2010 first quarter silver and gold production were 20% and 18% lower respectively compared to the fourth quarter of 2009 as a result of lower mine production and lower head grades for both silver and gold as well as lower silver recovery rates in the mill, partially offset by higher gold recovery rates. Mine production has been impacted by delays in underground mine development, which has delayed access to certain higher grade stoping areas. Mill throughput in the first quarter of 2010 was 4% lower than the level of the previous quarter. Year on year, silver and gold production were 37% and 1% lower respectively, mainly due to the delay in mine development.
SAN JOSE MINE PRODUCTION COMPARISON (100% BASIS)(i)
Product Q1 2010 Q4 2009 Q1 2009
Ore production (tonnes) 96,484 100,460 118,986
Average head grade silver (g/t) 293 351 427
Average head grade gold (g/t) 5.92 7.34 5.29
Silver produced (koz) 823 1,032 1,299
Gold produced (koz) 16.43 19.96 16.56
Silver equivalent produced (koz) 1,809 2,230 2,293
Silver sold (koz) 739 989 838
Gold sold (koz) 14.32 19.23 11.38
(i)(Minera Andes holds a 49% interest in San Jose)
First quarter production cost information will be provided when available in a subsequent press release.
At San Jose, Minera Santa Cruz is completing permits to commence exploration drilling at the new Aguas Vivas target located 10 kilometers northwest of the San Jose operation.
