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According to the company, surface mill and infrastructure construction have reached 90%, with more than $258 million of the project’s budget spent to date. Project commitments total $270 million, representing 99% of the $271 million capital budget.
Underground explosive magazines have been completed, and the application for an explosive use permit has been submitted, with approval expected in Q4 2024. “We’re in the final construction phase with the finish line in sight,” commented Don Gray, Chief Operating Officer. The mine will consist of the Terronera and La Luz underground deposits, both of which will be mined using a combination of long-hole and cut-and-fill methods. The mineral processing plant will have a capacity of 2,000 tonnes per day. A feasibility study forecasts that the project will produce 4 million oz. of silver and 38,000 oz. of gold annually over a 10-year period.
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