TSX.V: SCZ
FSE: 1SZ
VANCOUVER, Nov. 27, 2017 /CNW/ - Santacruz Silver Mining
Ltd. (TSX.V:SCZ) (the "Company" or "Santacruz") announces the
appointment of Mr. Carlos Alberto Silva
Ramos to the position of Chief Operating Officer of the
Company effective November 27, 2017.
Mr. Silva will report directly to the President and CEO of the
Company, Mr. Arturo Préstamo.
Mr. Silva is a well-known and highly respected Mexican mining
engineer with a degree from the University of Guanajuato, and additionally holds an MBA from
ITESM (Instituto Tecnologico de Estudios Superiores Monterrey). He
has more than 30 years' of experience working in the mining
industry in Mexico with both
senior and junior mining companies, the last 17 years of which were
in senior management roles.
Most recently, Mr. Silva has been Co-Founder and Chief Executive
Officer of Carrizal Mining S.A. de C.V., a private Mexican silver
producer where, during his nine year tenure, he successfully
increased the mining and milling operations of the Zimapan Mine, at
Zimapan, Hidalgo, Mexico, from
1,400 tpd to 3,200 tpd. Prior to this, Mr. Silva held the
position of Strategic Planning and Engineering Superintendent for
the Tayoltita Mine located in San Dimas,
Durango, Mexico, originally owned by Luismin S.A. de C.V., a
private Mexican mining company, subsequently acquired by Goldcorp
Inc. (TSX:G) (NYSE:GG) and then sold to Primero Mining Corp.
(TSX:P). During his time with the Tayoltita Mine, he
supervised the planning and initial mill expansion from 1,800 to
2,100 tpd followed by a further expansion to 3,200 tpd with
concurrent increases in mine production.
Mr. Silva is currently the President of the Mexican Federation
for Sustainable Mining, and earlier this year was recognized as one
of Mexico's best miners by the
Zimapan, Guanajuato and Pachuca District´s by the
AIMMGM (Asociación de Ingenieros de Minas, Metalurgistas y Geólogos
de México, A.C.).
Mr. Silva replaces Mr. Dante
Rodriguez, who was interim COO for Santacruz. Mr. Rodriguez
will remain as the Company's VP of Exploration.
Mr. Arturo Préstamo stated: "We
are extremely pleased to announce the appointment of Mr. Silva as
our Chief Operating Officer. Carlos has a long and successful
mining career in Mexico and is
well respected for his accomplishments working with precious metals
producers in Mexico as an engineer
and manager. We welcome his operational expertise and look forward
to his integration into our team at Santacruz as we work to
optimize our production assets in Mexico. We would also like to thank Mr.
Rodriguez for his work overseeing the operations of the Company
over the past several months under challenging conditions, and we
look forward to our continued work with him in his new role."
About Santacruz Silver Mining Ltd.
Santacruz is a Mexican focused silver company with two producing
silver assets (Rosario Project, including the Rosario Mine, Cinco
Estrellas Property and Membrillo Prospect, and the right to operate
the Veta Grande mine and milling
facility); and two exploration properties, the Minillas Property
and Zacatecas properties.
Santacruz is managed by a technical team of professionals with
proven track records in developing, operating and discovering
silver mines in Mexico with a
corporate objective to become a mid-tier silver producer.
'signed'
Arturo Préstamo Elizondo,
President, Chief Executive Officer and Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward looking information
Certain statements contained in this news release constitute
"forward-looking information" as such term is used in applicable
Canadian securities laws. Forward-looking information is based on
plans, expectations and estimates of management at the date the
information is provided and is subject to certain factors and
assumptions. In making the forward-looking statements
included in this news release, the Company has applied several
material assumptions, that the Company's financial condition and
development plans do not change as a result of unforeseen events,
that third party mineralized material to be milled by the Company
will have properties consistent with management's expectations,
that the Company will receive all required regulatory approvals,
and that future metal prices and the demand and market outlook for
metals will remain stable or improve. Forward-looking
information is subject to a variety of risks and uncertainties and
other factors that could cause plans, estimates and actual results
to vary materially from those projected in such forward-looking
information. Factors that could cause the forward-looking
information in this news release to change or to be inaccurate
include, but are not limited to, the risk that any of the
assumptions referred to prove not to be valid or reliable, which
could result in lower revenue, higher cost, or lower production
levels; delays and/or cessation in planned work; changes in the
Company's financial condition and development plans; delays in
regulatory approval; risks associated with the interpretation of
data (including in respect of the third party mineralized material)
regarding the geology, grade and continuity of mineral deposits;
the possibility that results will not be consistent with the
Company's expectations, as well as the other risks and
uncertainties applicable to mineral exploration and development
activities and to the Company as set forth in the Company's
continuous disclosure filings filed under the Company's profile
at www.sedar.com. There can be no assurance that any
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader should not
place any undue reliance on forward-looking information or
statements. The Company undertakes no obligation to update
forward-looking information or statements, other than as required
by applicable law.
Rosario Project
The decisions to commence production at the Rosario Mine,
Cinco Estrellas Property and Membrillo Prospect were not based on a
feasibility study of mineral reserves demonstrating economic and
technical viability, but rather on a more preliminary estimate of
inferred mineral resources. Accordingly, there is increased
uncertainty and economic and technical risks of failure associated
with this production decision. Production and economic variables
may vary considerably, due to the absence of a complete and
detailed site analysis according to and in accordance with NI
43-101.
Veta Grande Project
The decision to commence production at Veta Grande Project
was not based on a feasibility study on mineral reserves
demonstrating economic and technical viability. Accordingly,
there is increased uncertainty and economic and technical risks of
failure associated with this production decision. Production
and economic variables may vary considerably due to the absence of
a complete and detailed site analysis according to and in
accordance with NI 43-101.
SOURCE SantaCruz Silver Mining Ltd.