SilverCrest gains permit for Las Chispas
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.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...
VISIT SHOWROOM
CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
