Published: October 27, 2021 |

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SilverCrest Metals released an update on construction activities at the company’s Las Chispas Project located in Sonora, Mexico.

“Our team and contractors, fueled by their success to date, continue to make steady progress in safely advancing the construction of the Las Chispas Project. As the project passes its halfway mark of the construction timeline and capital spend, construction will get into its peak period, and we are increasing our focus on the operational readiness plan in preparation for plant commissioning (expected in Q2, 2022) and production ramp-up through H2, 2022,” said Pierre Beaudoin, COO.

“In parallel, our focus on risk mitigation will continue and include the continued build of the on-surface stockpile and the advancement of underground development. The construction team continues to target reaching approximately 80 percent completion of overall construction progress by the end of 2021, with plant ore commissioning expected as planned in Q2, 2022,” added Beaudoin.

“The outstanding efforts from our team and contractors in Mexico and Canada continued in Q3, 2021 with notable progress being made on a number of key areas of the project including the process plant, the access road, powerline, and the bridge. Las Chispas Project construction remains on time and budget and our strong working capital position allows us to progress our growth and optimization plans while de-risking in parallel,” said N. Eric Fier, CPG, P.Eng, and CEO.

HIGHLIGHTS

• Construction Remains on Schedule:
At the end of the third quarter of 2021, overall construction progress at Las Chispas was 54 percent complete compared to an overall scheduled completion of 48 percent. Construction continued to progress well in the quarter with the main access road, plant detailed engineering, and concrete work now complete, bridge construction 88 percent complete, plant construction 49 percent complete, powerline 47 percent complete, and underground infrastructure ongoing. Construction progress continued to benefit from no delays due to COVID-19 or any other reason.

• Capital Spend Tracking Well Against Budget:
Through Q3, 2021, 68 percent of the $137.7 million feasibility study capital cost estimate was committed, of which 57 percent has been incurred across all capital cost scopes, in-line with budget. At the end of Q3, 2021, approximately $59.0 million in capital remains to be incurred through commissioning. A number of key infrastructure tasks are now complete or nearing completion, limiting cost inflation risk.

• Underground Development Ahead of Schedule:
With underground development ahead of schedule at the end of H1, 2021, development rates continued to progress well in Q3, 2021 for a total of 15.7 km completed since underground development began in Q1, 2019. Unit underground mining costs continue to track slightly under budget and development meters remain well ahead (1.6 km) of the geasibility study budget, year to date.

• Site Safety Remains Key Priority:
At the end of Q3, 2021, after 1.33 million work-hours completed at site, the company’s lost time injury frequency rate was 0.60. COVID-19 risk mitigation efforts continued successfully in the quarter with an additional 4,800 COVID-19 tests completed and positivity rates remaining low. The company also participated in a local vaccination program to complement the federal program. This local program allowed for full vaccination of 220 employees and contractors and first dose vaccination of an additional 110 employees and contractors.

Read more details in the company’s press release HERE

About SilverCrest Metals
SilverCrest is a Canadian precious metals exploration and development company headquartered in Vancouver, BC, that is focused on new discoveries, value-added acquisitions and targeting production in Mexico’s historic precious metal districts. The company’s top priority is on the high-grade, historic Las Chispas mining district in Sonora, Mexico, where it has completed a feasibility study on the Las Chispas Project and is proceeding with mine construction. Startup of production at the Las Chispas Mine is targeted for mid-2022. SilverCrest is the first company to successfully drill-test the historic Las Chispas Property resulting in numerous high-grade precious metal discoveries. The company is led by a proven management team in all aspects of the precious metal mining sector, including taking projects through discovery, finance, on time and on budget construction, and production.

To stop by SilverCrest’s website, CLICK HERE

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