Americas Silver Corporation Provides a Galena Complex Operations Update
June 14 2018 - 6:33AM
Business Wire
Americas Silver Corporation (TSX:USA) (NYSE “American”:USAS)
(“Americas Silver” or the “Company”) is providing an update of
recent hoist-related issues at its 100%-owned Galena Complex in
Wallace, Idaho.
In late April 2018, there was a 10-day suspension of milling
while certain maintenance repairs were completed in the No.3 Shaft.
All ore and waste skipping is done using the No.3 shaft and hoist
at the Galena Complex. This repair program had been ongoing for the
past three years with production activities slowed every weekend to
accommodate the repairs. The Company decided to complete all
remaining work in a short continuous period rather than prolong the
repairs over a period of approximately six months, in order to more
efficiently conclude the repairs while improving mine productivity
and flexibility over the remainder of the year. During this period,
mining was uninterrupted and blasted material was stored
underground until hoisting resumed. All work was successfully
completed however April production was impacted. Management
expected the April shortfall to be made up over the course of the
year and May production met expectations.
On the evening of June 11, there was a mechanical failure in the
brake mechanism of the No.3 hoist. The event occurred while the
conveyance was stopped and with no load. Workers immediately began
the repair work and expect to have the hoist back in operation by
the end of the month. Mining will be suspended during this period
with an associated loss of production for the duration of the
repair work. The workforce is co-operating by scheduling vacation
and personal leave days as possible. Galena production in the
current quarter will be below budget. The Company is confident
normal operation will resume immediately after the repair work is
completed with no long-term issues expected following completion of
the repair.
“We are continually striving to make Galena a safer, more
predictable and profitable operation,” said Darren Blasutti,
President and CEO of Americas Silver Corporation. “These two
short-term interruptions in the second quarter are unfortunate but
are necessary to not only stabilize future production, but grow
production at the Galena Complex.”
About Americas Silver Corporation
Americas Silver is a silver mining company focused on growth in
precious metals from its existing asset base and execution of
targeted accretive acquisitions. It owns and operates the Cosalá
Operations in Sinaloa, Mexico and the Galena Complex in Idaho, USA.
The Company holds an option on the San Felipe development project
in Sonora, Mexico.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward‐looking information” within
the meaning of applicable securities laws. Forward‐looking
information includes, but is not limited to, the Company’s
expectations intentions, plans, assumptions and beliefs with
respect to, among other things, the realization of exploration,
operational and development plans, the Cosalá Operations and Galena
Complex as well as the Company’s financing efforts. Often, but not
always, forward‐looking information can be identified by
forward‐looking words such as “anticipate”, “believe”, “expect”,
“goal”, “plan”, “intend”, “estimate”, “may”, “assume” and “will” or
similar words suggesting future outcomes, or other expectations,
beliefs, plans, objectives, assumptions, intentions, or statements
about future events or performance. Forward‐looking information is
based on the opinions and estimates of the Company as of the date
such information is provided and is subject to known and unknown
risks, uncertainties, and other factors that may cause the actual
results, level of activity, performance, or achievements of the
Company to be materially different from those expressed or implied
by such forward looking information. This includes the ability to
develop and operate the Cosalá and Galena properties, risks
associated with the mining industry such as economic factors
(including future commodity prices, currency fluctuations and
energy prices), ground conditions and factors other factors
limiting mine access, failure of plant, equipment, processes and
transportation services to operate as anticipated, environmental
risks, government regulation, actual results of current exploration
and production activities, possible variations in ore grade or
recovery rates, permitting timelines, capital expenditures,
reclamation activities, social and political developments and other
risks of the mining industry. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated, or intended. Readers are cautioned
not to place undue reliance on such information. By its nature,
forward-looking information involves numerous assumptions, inherent
risks and uncertainties, both general and specific that contribute
to the possibility that the predictions, forecasts, and projections
of various future events will not occur. The Company undertakes no
obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information,
future events or other such factors which affect this information,
except as required by law.
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Darren BlasuttiPresident and CEO416‐848‐9503
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