Fresnillo's silver production hits record level

13th Oct 2010 07:13

Mexico based precious metals miner Fresnillo said silver production reached a record level in the third quarter.Silver production hit 10.69m ounces, while gold production was also on the up, with 91,822 ounces of the yellow stuff unearthed in the third quarter, a 44.4% increase on the corresponding period of last year.The company said it is on track to achieve its production targets for 2010 of 340,000 ounces of attributable gold and 41.1m ounces of silver.The company said its exploration programme remains on schedule, with the company enjoying positive results in several projects."This outcome has encouraged us to initiate the construction of adits and ramps in the projects with most potential to confirm drilling results and obtain larger samples for metallurgical tests," said Jaime Lomelín, chief executive officer of Fresnillo. An update to the Reserves and Resources will be published at the year end.Significant progress was also achieved at the Saucito project and the Ciénega expansion project, both of which remain on track to become operational in the first half of 2011.