Guanajuato Silver said it has initiated development work and the processing of mineralized material from an existing stockpile at its El Horcon mine in Mexico, which is set to become a satellite mining operation for the precious metals producer.
“The El Horcon mine fits well within our strategy of further consolidating the Guanajuato mining district as we look to take advantage of the excess processing capacity of our two operating mills in the area,” said Chairman and CEO James Anderson.
“In addition to being able to immediately access low-cost mineralized material from the existing stockpile, we are confident that the development programs we have planned for 2024 will add value to El Horcon and allow us to rapidly advance this exciting project.”
Since mid-November, Guanajuato Silver has shipped and processed 350 tonnes of material on a trial basis from the historical stockpile, which is expected to add 4,000 tonnes of mineralized material per month over a six-to-10-month period.
In other development work, the company said it re-assayed previous core samples, and conducted an extensive mapping and sampling program in advance of a diamond drill exploration program that is scheduled to commence in the second quarter of 2024.
El Horcon is located approximately 60 kilometers northwest of Guanajuato.
Source: Guanajuato Silver