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SSR Mining Reports Second Quarter 2019 Production Results

Zeitungsständer (Symbolbild). © Global_Pics / iStock Unreleased / Getty Images

PR Newswire

VANCOUVER, July 11, 2019

VANCOUVER, July 11, 2019 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") reports second quarter 2019 operating results at our three mines.

Second Quarter 2019 Operating Highlights

On track for higher annual gold production: Produced over 98,000 consolidated gold equivalent ounces from our three operations during the second quarter and over 210,000 gold equivalent ounces year-to-date.
Strong operating performance at Marigold: Produced 54,922 ounces of gold. Stacked 7.1 million tonnes of ore at a gold grade of 0.38 g/t, both a quarter-on-quarter increase.
Solid gold production at Seabee: Increased gold grade and recovery led to 26,539 ounces of gold production.
Focused on steady state production at Puna: Mining activities achieved planned rates, with silver production of 1.5 million ounces.

Paul Benson, President and CEO said, "With each of our operations performing well during the second quarter, we delivered over 98,000 gold equivalent ounces. Notably, at Marigold we stacked a higher amount of ore at an increasing gold grade, driving toward a record production year for the mine as we celebrate its 30^th anniversary. At Seabee, production is ahead of plan, while at Puna, our focus was on achieving steady state production levels. Our strong first six months of the year put us in a favorable position to meet or exceed our annual production guidance for the eighth consecutive year."

Marigold Mine, U.S.

Q2 2019

Q1 2019

% Change ⁽¹⁾

ARIVA.DE Börsen-Geflüster

Kurse

SSR Mining

5,52 $

+0,91%

Total material mined

19,254

17,295

11.3%

Waste removed

12,185

11,767

3.6%

Ore to leach pad

7,070

5,528

27.9%

Strip ratio

w/o

1.7

2.1

(19.0%)

Gold grade to leach pad

g/t

0.38

0.34

11.8%

Gold recovery

75.0%

73.0%

2.7%

Gold produced

54,922

53,151

3.3%

Gold sold

59,702

55,517

7.5%

Notes:

(1) Percent changes are calculated using rounded numbers presented in the table.

In the second quarter of 2019, the Marigold mine produced 54,922 ounces of gold, a 3% increase from the first quarter mainly due to higher gold grade and ore mined, which was stacked on lower areas of the leach pads. Gold sales totaled 59,703 ounces, 8% higher than the previous quarter as we sold a portion of bullion inventory accumulated in the first quarter of 2019.

During the quarter, 19.3 million tonnes of material were mined, an 11% increase compared to the first quarter of 2019, due to improved hauling efficiency and shorter haul distances. Approximately 7.1 million tonnes of ore were delivered to the heap leach pads at a grade of 0.38 g/t gold. This compares to 5.5 million tonnes of ore delivered to the heap leach pads at a grade of 0.34 g/t gold in the first quarter of 2019. The strip ratio was 1.7:1 for the quarter.

Seabee Gold Operation, Canada

		Q2 2019	Q1 2019	% Change ⁽¹⁾
Total ore milled	t	88,424	90,756	(2.6)%
Ore milled per day	t/day	971	1,008	(3.7)%
Gold mill feed grade	g/t	9.83	8.59	14.5%
Gold recovery	%	98.4%	97.2%	1.2%
Gold produced	oz	26,539	31,183	(14.9)%
Gold sold	oz	24,276	27,999	(13.3)%

Notes:

(1) Percent changes are calculated using rounded numbers presented in the table.

The Seabee Gold Operation produced 26,539 ounces of gold in the second quarter of 2019, a 15% decrease mainly due to timing of gold pours at year-end 2018 that led to higher gold production in the first quarter of 2019. Gold sales totaled 24,276 ounces for the second quarter.

The four new pieces of underground mining equipment, delivered over the ice road in the first quarter, were commissioned at the beginning of the second quarter and are operating at the Santoy mining complex. The mill achieved an average throughput of 971 tonnes per day over the second quarter, a 4% decline compared to the previous quarter largely due to planned modifications to the electrical distribution system as part of the tailings expansion project. Gold mill feed grade was 9.83 g/t, 15% higher compared to the first quarter and in line with plan. Gold recovery for the quarter was 98.4%, a 1.2% increase over the first quarter.

Puna Operations, Argentina ⁽¹⁾

Q2 2019

Q1 2019

% Change ⁽²⁾

Total material mined

3,304

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