MEXICO – Vancouver-based Endeavour Silver Corp. has begun a four-month project to increase ore production by 40% at its El Cubo silver mine in Guanajuato state. The mine output will be raised to 2,200 t/d from 1,550 t/d. The expansion is expected to reduce operating costs and generate free cash flow.
The additional ore will come mostly from the V-Asuncion mine area, where thicker mineralized zones are amenable to long hole mining, and from the Santa Cecilia mine are, where the veins are narrower but higher grade. The additional ore will be treated at Endeavour's Bolanitos plant 18 km away.
Along with the mine expansion, Endeavour has adjusted its 2015 guidance upwards by 11%. The new figures include 6.3 million to 7.0 million oz of silver, 60,000 to 66,000 oz of gold.
The El Cubo mine expansion has a capital budget of $3.8 million.
Visit EDRsilver.com for more information about El Cubo and the two other Mexican mines operated by the company.
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