Including 1,590,063 ounces of silver and 20,719 tonnes of zinc
VANCOUVER, BC, June 9, 2025 /CNW/ – Santacruz Silver Mining Ltd. (TSXV:SCZ) (OTCQB:SCZMF) (FSE: 1SZ) (“Santacruz” or the “Company”) reports its Q1 2025 production results from its Bolivar mine, Porco mine, Caballo Blanco Group of mines (“Caballo Blanco”) and the San Lucas Group which includes the Reserva Mina and the San Lucas feed sourcing business (“San Lucas”), all located in Bolivia, and the Zimapan mine located in Mexico.
Q1 2025 Production Highlights:
Silver Equivalent Production: 3,688,129 silver equivalent ounces
Silver Production: 1,590,063 ounces
Zinc Production: 20,719 tonnes
Lead Production: 2,718 tonnes
Copper Production: 279 tonnes
Underground Development: 10,135 meters
Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented, “Santacruz started 2025 with strong contributions from its Mexican operations, driven by steady production growth, solid mill throughput, and disciplined mine execution. Whilst in Bolivia, at our San Lucas ore sourcing business, our margin-based model supported profitability through flexible ore sourcing and cost flexibility, despite normal head grade variability.”
Mr. Préstamo continued, “Operations at Bolívar, Porco, and Caballo Blanco remained firmly focused on maximizing silver production and metallurgical recoveries, aligned with this year´s mine plan. Our strategic focus on silver production has proven especially beneficial, considering the favorable silver price environment, and we are reaffirming our commitment to prioritizing silver production across our portfolio of assets. Lower throughput from our Bolivian operations in Q1 reflects the typical seasonal slowdown experienced during the first quarter of the year.”
Production Summary – Total
|
Production Table |
2025 Q1 |
2024 Q4 |
Change Q1 vs Q4 |
2025-YTD |
2024-YTD |
Change ’25-YTD vs ’24-YTD |
|
Material Processed (tonnes milled) |
471,773 |
493,141 |
(4 %) |
471,773 |
470,749 |
0 % |
|
Silver Equivalent Produced (ounces) (1) |
3,688,129 |
4,097,327 |
(10 %) |
3,688,129 |
3,876,388 |
(5 %) |
|
Production |
||||||
|
Silver (ounces) |
1,590,063 |
1,761,686 |
(10 %) |
1,590,063 |
1,581,949 |
1 % |
|
Zinc (tonnes) |
20,719 |
23,357 |
(11 %) |
20,719 |
22,847 |
(9 %) |
|
Lead (tonnes) |
2,718 |
2,932 |
(7 %) |
2,718 |
2,953 |
(8 %) |
|
Copper (tonnes) |
279 |
248 |
13 % |
279 |
256 |
9 % |
|
(1) |
Silver Equivalent Produced (ounces) have been calculated using prices of $23.85/oz, $2,775.53/ton, $2,085.90/ton and $9,762.69/ton for silver, zinc, lead and copper respectively applied to the metal production divided by the silver price as stated here. |
Bolivar Mine
|
Bolivar Production Table (1) |
2025 Q1 |
2024 Q4 |
Change Q1 vs Q4 |
2025-YTD |
2024-YTD |
Change ’25-YTD vs ’24-YTD |
|
Material Processed (tonnes milled) |
62,356 |
69,411 |
(10 %) |
62,356 |
72,801 |
(14 %) |
|
Silver Equivalent Produced (ounces) (2) |
786,299 |
920,614 |
(15 %) |
786,299 |
899,355 |
(13 %) |
|
Production |
||||||
|
Silver (ounces) |
421,039 |
491,377 |
(14 %) |
421,039 |
425,756 |
(1 %) |
|
Zinc (tonnes) |
3,983 |
4,611 |
(14 %) |
3,983 |
5,063 |
(21 %) |
|
Lead (tonnes) |
201 |
327 |
(39 %) |
201 |
395 |
(49 %) |
|
Average Grade |
||||||
|
Silver (g/t) |
237 |
236 |
0 % |
237 |
199 |
19 % |
|
Zinc (%) |
7.00 |
7.19 |
(3 %) |
7.00 |
7.68 |
(9 %) |
|
Lead (%) |
0.47 |
0.64 |
(27 %) |
0.47 |
0.74 |
(36 %) |
|
Metal Recovery |
||||||
|
Silver (%) |
89 |
93 |
(4 %) |
89 |
91 |
(2 %) |
|
Zinc (%) |
91 |
92 |
(1 %) |
91 |
91 |
0 % |
|
Lead (%) |
68 |
74 |
(8 %) |
68 |
74 |
(8 %) |
|
(1) |
Bolivar is presented at 100% whereas the Company records 45% of revenues and expenses in its consolidated financial statements. |
|
(2) |
Silver Equivalent Produced (ounces) have been calculated using prices of $23.85/oz, $2,775.53/ton, $2,085.90/ton and $9,762.69/ton for silver, zinc, lead and copper respectively applied to the metal production divided by the silver price as stated here. |
Q1-2025 vs Q4-2024
Compared to Q4 2024, Bolívar processed 10% less ore in Q1 2025, reflecting the typical seasonality of first-quarter operations and temporary operational constraints that have been resolved. Silver equivalent production decreased by 15%, slightly more than the reduction in ore processed. Silver output declined 14%, primarily due to an 8% drop in recoveries, while head grades remained stable. Zinc production was down 14%, consistent with marginal decreases in head grades (-3%) and recoveries (-1%).
Q1-2025 vs Q1-2024
In Q1 2025, Bolívar processed 14% less ore compared to Q1 2024, primarily due to temporary operational constraints that reduced the number of available shifts. Silver equivalent production declined by 13%, in line with the lower throughput tonnage. Silver production remained stable (-1% YoY), supported by a 19% increase in silver head grades, which offset a slight decline in recoveries (-3%). The head grades processed during the quarter are consistent with the mineralization profile anticipated in the mine plan. Zinc production decreased 21%, resulting from a 9% decline in head grades, while recoveries held steady (+1%).
Porco Mine
|
Porco Production Table (1) |
2025 Q1 |
2024 Q4 |
Change Q1 vs Q4 |
2025-YTD |
2024-YTD |
Change ’25-YTD vs ’24-YTD |
|
Material Processed (tonnes milled) |
47,501 |
53,702 |
(12 %) |
47,501 |
50,862 |
(7 %) |
|
Silver Equivalent Produced (ounces) (2) |