GATO - Gatos Silver Reports Q2 2024 Production Results With Record Mill Throughput and Zinc Production | Benzinga
VANCOUVER, British Columbia, July 09, 2024 (GLOBE NEWSWIRE) -- Gatos Silver, Inc. (TSX:GATO) ("Gatos Silver" or the "Company") today announced production results for the quarter and six months ended June 30, 2024 at its 70%-owned Cerro Los Gatos ("CLG") mine in Mexico.
Dale Andres, CEO of Gatos Silver, commented: "In the second quarter of 2024 the CLG mine delivered strong operational results, with record zinc production and the sixth consecutive quarterly record for mill throughput. Silver equivalent production for the quarter was 3.88 million ounces, an increase of 18% from the second quarter of 2023, and we continue to track at the top end of 2024 guidance."
"Our mine debottlenecking efforts delivered a mill throughput average of 3,240 tonnes per day, up 1% from the first quarter of 2024 and up 11% from the second quarter of 2023, as we advanced towards our medium-term target of sustained throughput rates of 3,500 tonnes per day. We expect to complete an updated life of mine plan in the third quarter of 2024 with a target to further extend the mine life. We also increased exploration drilling efforts during the second quarter on both near mine targets and at the San Luis prospect located five kilometers from the CLG mine."
Production Results (100% basis)
CLG comparative production highlights are summarized below:
| Three Months Ended June 30, |
| Six Months Ended June 30, |
| CLG Production (100% Basis) |
| 2024 |
| 2023 |
| 2024 |
| 2023 |
| Tonnes milled (dmt) |
| 294,869 |
| 265,342 |
| 586,983 |
| 525,770 |
| Tonnes milled per day (dmt) |
| 3,240 |
| 2,916 |
| 3,225 |
| 2,905 |
| Feed Grades |
| Silver (g/t) |
| 273 |
| 265 |
| 279 |
| 296 |
| Zinc (%) |
| 4.55 |
| 4.00 |
| 4.27 |