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Santacruz Silver Mining Ltd.
Summary
| Project: | Veta Grande | |
|---|---|---|
| Deposit: | Veta Grande | |
| Location: | Mexico | |
| Commodities: | Silver-Gold-Lead-Zinc | |
| Date: | 2/15/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-2-2017: Santacruz Silver Mining Ltd. announces a Resource Estimation report for its Veta Grande deposit at the Veta Grande project. Independent assessment and Mineral Resource estimate for the Veta Grande project. This report presents an independent as | |
| Resources: | (Resource, Inf.): 2.642Mt @ 181g/t Ag, 0.17g/t Au, 0.02% Pb, 0.04% Zn | |
| CP/QP: | [Resources]: Gary Giroux (Giroux Consultants Ltd.) | |
| ABSTRACT: | This report presents an independent assessment of the Veta Grande project located in Zacatecas, northcentral Mexico. It includes an independent assessment and Mineral Resource Estimate for the Panuco deposit located within the Zacatecas properties. The report is a combination of and supersedes two previous reports titled “Technical Report, Veta Grande Project, Zacatecas State, Mexico” dated May 17, 2016 and “2016 Mineral Resource Estimate, Panuco Deposit, Zacatecas, Mexico” dated November 3, 2016. Santacruz Silver Mining Ltd. (Santacruz) commissioned Van Phu Bui of ARC Geoscience Group (ARC) to prepare a Technical Report for the Veta Grande project and Gary Henri Giroux of Giroux Consultants Ltd. (Giroux) to prepare a mineral resource estimate for the Panuco deposit. Both Bui and Giroux are Qualified Persons as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101). The Technical Report and Mineral Resource Estimate are prepared in accordance with NI 43-101. The effective date of the Panuco deposit Mineral Resource Estimate is October 5, 2016. The effective date of this Technical Report is January 31, 2017. Santacruz is currently conducting mining activities on the Veta Grande and La Cantera low-sulfidation epithermal vein systems that are situated near Zacatecas city, in the Zacatecas mining district. Santacruz also operates the Vetagrande mineral processing facility located in the municipality of Vetagrande. The decision to commence production at the Veta Grande project was not based on a feasibility study on mineral reserves demonstrating economic and technical viability. There is increased uncertainty and economic and technical risks of failure associated with this production decision. | |
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