https://www.miningweekly.com
Construction|Gold|PROJECT|Underground|Environmental
Construction|Gold|PROJECT|Underground|Environmental
construction|gold|project|underground|environmental

SilverCrest gains permit for Las Chispas

18th July 2019

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

Canada-headquartered SilverCrest has been granted environmental approval for the development of the Las Chispas project, in Sonora, Mexico, which now positions the company to complete project finance and to begin construction activities in the second half of next year.

The operating permit allows the company to construct a 3 000 t/d underground mine and a conventional processing facility, with subsequent dry stack tailings and underground backfill.

The permit is based on conditions.

SilverCrest CEO Eric Fier commented on Thursday that the company expected to have all major operating permits in hand ahead of its schedule construction timeline.

“We are extremely pleased with the progress that our team has made in the 3.5 years that we’ve been exploring at Las Chispas. We continue to work hard to simultaneously de-risk and add value to the project in a cost-efficient manner.”

The feasibility study for Las Chispas should be completed in the first half of next year.

The preliminary economic assessment, released in May, indicated that at a 1 250 t/d production rate, the mine will produce 5.38-million ounces a year of silver and 55 700 oz/y of gold, or 9.6-million ounces silver-equivalent.

The life-of-mine all-in sustaining cash cost is estimated to be $7.52 a silver-equivalent ounce.

The mine is forecast to cost $100.5-million to build and it has a payback period of nine months.

The after-tax internal rate of return is 78% and the net present value is $406.9-million.

SilverCrest has 14 active drill rigs on site, which continue to test, expand and upgrade the high-grade resource delineated to date at Las Chispas.

Edited by Creamer Media Reporter

Comments

Showroom

AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.136 0.168s - 92pq - 2rq
Subscribe Now