A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
- Gatos Silver reported Tuesday that its 70%-owned Cerro Los Gatos mine in Mexico produced 3.46 million silver equivalent ounces in Q3 2023, down 19% compared to Q3 2022.
Gatos explained that the reduction in silver output is attributable to a 20% decline in silver grades in Q3 2023, as expected in the mine plan, and partially offset by the 2% increase in mill throughput and improved recoveries. Importantly, the company said that on September 6, 2023, it announced updated mineral reserve and mineral resource estimates and new life of mine plan for CLG with an extended mine life through to the end of 2030.
“We are continuing to progress further life extension opportunities beyond 2030 by advancing conversion drilling of the South-East Deeps inferred resource and ramping up exploration efforts on near mine targets in the Los Gatos district.”
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