Through the quarter, the CLG mine achieved throughput of 234,985 tonnes and continued to attain wonderful recoveries for silver, lead, zinc and gold. CLG stays on track to attain its annual steerage for 2022, together with the plans to extend plant throughput ranges to 2,700 tpd within the second half of 2022.
In the meantime, firm has signed a definitive settlement with its JV associate, Dowa Metals & Mining, to construct and function a brand new leaching plant to cut back fluorine ranges in all zinc concentrates produced. The development price is estimated at $6 million.
CLG is certainly one of three silver-lead-zinc deposits recognized by Gatos inside Mexico’s Los Gatos district, 120 km south of the town of Chihuahua, and is the corporate’s first commercially producing mine. Lead and zinc focus shipments commenced in September 2019, attaining industrial manufacturing ranges by the tip of that 12 months.
Elsewhere within the silver and zinc-rich mineral district, Gatos can also be in search of to advance the Esther and Amapola deposits, in addition to 11 different mineralized zones.
The Esther deposit accommodates 460,000 tonnes of indicated assets at common grades of 133 g/t silver, 0.04 g/t gold, 0.02% copper, 0.7% lead and a couple of.1% zinc, whereas Amapola has 250,000 million tonnes of indicated assets at common grades of 135 g/t silver, 0.1 g/t gold, 0.02% copper, 0.1% lead and 0.3% zinc.
Shares in Gatos Silver rose 7.6% by 11:50 a.m. ET, giving the Mexico-focused silver producer a market capitalization of C$420.3 million.