Guanajuato Mine Complex
The Guanajuato Mine Complex is Great Panther Silver's flagship operation. The property consists of 32 claims, totalling 2,621 hectares. The concessions are 100% owned by Great Panther's Mexican subsidiary, Minera Mexicana El Rosario, S.A. de C.V. The main claim block covers 4.2 km of the highly significant Veta Madre vein structure and is located on the Central Plateau of Mexico in the State of Guanajuato. The City of Guanajuato, where the mines are located, is 380 km by road northwest of Mexico City and is serviced by an international airport near the city of Leon.
For the fourth quarter of 2013, the Guanajuato operation processed 55,547 tonnes, an increase of 10% compared to the same period in 2012. Ore grades were 202 grams/tonne ("g/t") Ag and 2.26g/t Au. Metal production included a record 330,949 Ag oz and 3,750 Au oz, or 555,933 Ag eq oz, which represents an increase of 21% over the same period in 2012.
Plant metallurgical performance was the highest the Company has achieved on a quarterly basis, with metal recoveries of 91.7% for silver and 92.9% for gold.
For the year 2013, 221,545 tonnes were processed at ore grades of 169g/t Ag and 2.31g/t Au. Metals produced totaled 1,079,980 Ag oz (up 8% from 2012), plus 15,063 Au oz (up 46% from 2012 and a record), or 1,983,820 Ag eq oz (up 22% from 2012).
Robert F. Brown, P. Eng., Vice President of Exploration for the Company is the Qualified Person for both the Guanajuato mine and the Topia mine, under the meaning of NI 43-101. Ing. Juan Manuel Flores, VP Operations, oversees all aspects of Great Panther Silver's mines relating to mining and metallurgy.