Saucito
Including the Saucito II expansion, Saucito is one of the Group’s most important assets; Saucito contributed 32% to total silver production in 2018 and generated 21.9% of total adjusted revenue.
| Ownership: |
100% Fresnillo plc |
| Location: |
Zacatecas 8km SW of the Fresnillo mine |
| Commodity: |
Silver, Gold |
| Operational since: |
2011 |
| Facilities: |
Underground mine and flotation plant |
| Workforce: |
836 employees, 2,452 contractors |
| Milling Capacity : |
7,800 tpd/2,600,000 tpy |
| Average ore grade in reserves: |
261 g/t Silver, 1.39 g/t Gold |
| Mine Life: |
5.3 years (2017: 5.8) |
Quarterly Production
| |
1Q19
|
1Q18
|
% change
|
4Q18
|
|
Ore processed (t)
|
665,650
|
673,545
|
-1.2
|
693,608
|
| |
|
|
|
|
|
Production
|
|
|
|
|
|
Silver (koz)
|
4,332
|
4,832
|
-10.3
|
4,890
|
|
Gold (oz)
|
18.729
|
16,880
|
11.0
|
22,932
|
|
Lead (t)
|
5,877
|
3,183
|
84.6
|
8,362
|
|
Zinc (t)
|
9,110
|
3,916
|
132.6
|
10,132
|
| |
|
|
|
|
|
Ore grades
|
|
|
|
|
|
Silver (g/t)
|
243
|
260
|
-6.6
|
260
|
|
Gold (g/t)
|
1.13
|
1.12
|
1.0
|
1.3
|
|
Lead %
|
1.03
|
0.57
|
81.3
|
1.36
|
|
Zinc %
|
1.94
|
0.96
|
102.3
|
2.21
|
Annual Silver Production
History
2009
Construction commenced
2011
Commercial production 1H11
Production
Silver
(koz)
19,781
(FY18)
% (6.8) Change
Gold
(oz)
86,092
(FY18)
% 23.1 Change
Lead
(t)
22,662
(FY18)
% 27.9 Change
Zinc
(t)
29,506
(FY18)
% 45.0 Change
Financial Highlights
Adjusted Revenue
(US$m, FY18)
492.0
% (2.4) Change
Segment Profit
(US$m, FY18)
274.5
% (12.9) Change
Captial Expenditure
(US$m, FY18)
148.4
% 11.0 Change
Exploration
(US$m, FY18)
36.6
% 40.2 Change
Highlights - 1Q19
-
Quarterly silver production decreased 10.3% vs. 1Q18 in line with expectations, driven by a lower ore grade as a result of the gradual depletion of higher ore grade areas. Expected silver ore grade for 2019 continues to be in range of 210-220 g/t.
-
Similarly, quarterly silver production decreased 11.4% vs. 4Q18 as a result of a lower silver ore grade and a decrease in the volume of ore processed.
-
Quarterly by-product gold production increased 11.0% vs. 1Q18 resulting from a higher recovery rate. However, when compared to the previous quarter, by-product gold production decreased 18.3% resulting from a lower ore grade, and to a lesser extent, lower volume of ore processed.
-
Quarterly by-product lead production increased 84.6% vs. 1Q18 due to a higher ore grade. When compared to 4Q18, by-product lead production was 29.7% lower, driven by a lower ore grade.
-
First quarter by-product zinc production increased 132.6% vs. 1Q18 primarily due to a higher ore grade and, to a lesser extent, higher recovery rate. Against the previous quarter, by-product zinc production decreased 10.1% resulting mainly from a lower ore grade.
Summary - 2018
-
FY18 silver grade of 257 g/t
-
Development rates lower year on year
-
107,111 metres of infill drilling carried out
-
Concluded construction of the Pyrites plant
-
Initiated Jarillas shaft deepening
Performance Targets - 2019
- Intensify parametric drilling and continue infill drilling programme
- Targeting development rate increase of 20% by YE, prioritising the deepening of 5 main ramps in the Jarillas Vein
- Continue deepening of the Jarillas shaft
- Dilution expected to decrease 5-7% in 2019
- Expect further improvements in contractor performance
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