Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) ("Silver Standard") announces that its Marigold and Pirquitas mines achieved record annual gold and silver production, respectively, for the year ended December 31, 2015. Concurrent with these record production results, both mines improved their safety performance in 2015.
The Marigold mine produced 207,006 ounces of gold during 2015, the highest annual production in the mine's 17 year history. Marigold exceeded its gold production guidance of 195,000 to 205,000 ounces, which was revised upward in August 2015 from 160,000 to 175,000 ounces. This production resulted from safely moving a record 74.6 million tonnes of material in 2015 and mining additional ore tonnes at the Mackay pit.
The Pirquitas mine produced a record 10.3 million ounces of silver during 2015. This achievement marks the fourth consecutive year that Pirquitas has achieved or exceeded production guidance.
Paul Benson, President and CEO said, "I congratulate our teams on the excellent operating and safety results at both our mines. These results reflect the commitment of our personnel to optimizing performance at our operations despite challenging market conditions. We remain focused on efficient, reliable and safe production at the lowest possible cost to drive shareholder value. We also continue to see opportunities for growth in the current market environment and believe Silver Standard is well positioned with the strength of our balance sheet and our people."
The scientific and technical information contained in this news release relating to the Pirquitas mine has been reviewed and approved by Trevor J. Yeomans, ACSM, P.Eng., a Qualified Person under National Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101") and our Director of Metallurgy. The scientific and technical information contained in this news release relating to the Marigold mine has been reviewed and approved by Thomas Rice, a SME Registered Member, a Qualified Person under NI 43-101 and our Technical Services Manager at the Marigold mine.
About Silver Standard
Silver Standard is a Canadian-based precious metals producer with two wholly-owned and operated mines, including the Marigold gold mine in Nevada, U.S. and the Pirquitas silver mine in Jujuy Province, Argentina. The Company also has two feasibility stage projects and an extensive portfolio of exploration properties throughout North and South America. We are committed to delivering safe production through relentless emphasis on Operational Excellence. We are also focused on growing production and Mineral Reserves through the exploration and acquisition of assets for accretive growth, while maintaining financial strength.
Source: Silver Standard
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