Santacruz Silver Mining (TSX: V.SCZ, Stock Forum) Thursday reported the first six holes totaling approximately 1,000 meters of the 16,000 meter Phase II drilling campaign on its 100% owned Gavilanes Silver project in Mexico, this according to a company news release.
Results included 1,687 g/t silver over 4.58 metres.
"Operations at the Rosario Mine are on budget since commercial production was achieved on April 1, 2013. The months of April and May have exceeded expectations while silver equivalent production in June is ramping up well. At current silver prices, the Rosario Mine is on pace to generate the necessary cash flow in 2013 to allow us to move closer to our goal of becoming a mid-tier silver producer," said Santacruz Silver Mining President and CEO Arturo Préstamo.