2021-01-06 16:17:33 USAS Americas Gold and Silver
01/06/21 01/0616:17 01/06/2116:17 | Americas Gold and Silver's Galena Complex reports Q4 productionThe company states: "The Galena Complex had a strong finish to the year with Q4-2020 production of approximately 295,000 ounces of silver and 5.8M pounds of lead compared with 160,000 ounces of silver and 2.6M pounds of lead in Q4-2019, a year-over-year increase of over 100% on a AgEq basis. With the continued strong silver price, the company is targeting to increase production at the Galena Complex to 1.8M-2.0M ounces of silver per year in 2022 by replacing the Galena hoist and increasing development on the 3700 and 4300 levels in 2021. The company is confident it can increase production to 1.8M-2.0M ounces of silver by 2022 based on the continued success of drilling on the 360 Complex, which was an important contributor to the increase in the mineral resource estimates as of June 30, 2020. This increase will require replacement of the Galena hoist as well as continued development on the 3700 and 4300 levels. The company estimates the required capital for this project to be approximately $20M." |
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