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Great Panther Silver Reports First Quarter 2017 Production Results

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PR Newswire

TSX: GPR
NYSE MKT: GPL

VANCOUVER, April 11, 2017 /PRNewswire/ - GREAT PANTHER SILVER LIMITED (TSX: GPR; NYSE MKT: GPL) ("Great Panther"; the "Company") announces production results for the first quarter ("Q1") 2017 from its two wholly-owned Mexican silver mining operations: the Topia Mine in Durango and the Guanajuato Mine Complex ("GMC"), which includes the San Ignacio Mine.

First Quarter 2017 Production Highlights (Compared to First Quarter 2016)

  • Topia processing plant was suspended for the quarter to facilitate planned plant upgrades and the transition to new tailings handling and storage facilities. 
  • This primarily accounted for a 28% decrease in metal production to 727,372 silver equivalent ounces ("Ag eq oz")
  • Silver production decreased 32% to 364,995 silver ounces ("Ag oz")
  • Gold production decreased 8% to 5,177 gold ounces ("Au oz")
  • Ore processed decreased 7%, with 82,456 tonnes milled

"The planned suspension of milling operations at Topia was in effect throughout the entire first quarter and had an obvious impact on our overall metal production," stated Robert Archer, President & CEO.  "However, we continued mining at Topia throughout this period, and with the commissioning of the upgraded plant and the new tailings handling facility now underway, we have commenced the processing of ore stockpiled during the shutdown.  This will continue through the balance of the year, such that we anticipate meeting our annual guidance."








Consolidated Operations Summary

Q1 2017

Q1 2016


ARIVA.DE Börsen-Geflüster

Kurse

Change

Q1 2017

Q4 2016

Change

Ore processed (tonnes milled)

82,456

88,683

-7%

82,456

92,869

-11%

Silver equivalent ounce production1, 2

727,372

1,009,828

-28%

727,372

883,772

-18%

Silver ounce production

364,995

539,472

-32%

364,995

460,571

-21%

Gold ounce production

5,177

5,599

-8%

5,177

5,206

-1%

Lead production (tonnes)

-

282

-

-

213

-

Zinc production (tonnes)

-

424

-

-

315

-



(1)

Silver equivalent ounces for 2017 were calculated using a 70:1 Ag:Au ratio, and ratios of 1:0.0559 and 1:0.0676 for the price/ounce of silver to price/pound of lead and zinc, respectively.

(2)

Silver equivalent ounces for 2016 were calculated using a 70:1 Ag:Au ratio, and ratios of 1:0.0504 and 1:0.0504 for the price/ounce of silver to price/pound of lead and zinc, respectively.

Guanajuato Mine Complex

In Q1 2017, metal production at the GMC increased 4% compared to the previous quarter, but decreased by 4%, to 727,372 Ag eq oz, when compared to the same quarter in the previous year.  Ore processed in the first quarter of 2017 increased by 12%, compared to the first quarter of 2016, partly offsetting the lower head grades and gold recovery. 








GMC Operations Summary

Q1 2017

Q1 2016

Change

Q1 2017

Q4 2016

Change

Ore processed (tonnes milled)

82,456

73,649

12%

82,456

81,518

1%

Silver equivalent ounce production 1

727,372

755,555

-4%

727,372

702,351

4%

Silver ounce production

364,995

375,273

-3%

364,995

347,415

5%

Gold ounce production

5,177

5,433

-5%

5,177

5,071

2%

Ag grade (g/t)

155

179

-13%

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