Strong quarterly production at Puna Operations

punaoperations

During the second quarter of 2018, the Puna Operations –located in Jujuy province- produced 1.0 million ounces of silver, for a total of 1.9 million ounces produced in the first half of 2018, exceeding the company’s silver production guidance of 1.6 million ounces. Silver sales were 1.1 million ounces for the quarter, as concentrate inventories were further reduced. SSR Mining’s attributable share of silver production and sales in the second quarter were 0.7 million ounces and 0.9 million ounces, respectively.

Ore was milled at an average rate of 4,353 tonnes per day in the second quarter, 5% above the previous quarter. Ore milled in the second quarter contained an average silver grade of 110 g/t, 4% lower than the 115 g/t average silver grade in the first quarter, consistent with processing of increasingly lower grade stockpiles. The average silver recovery in the second quarter was 64%, 6% lower than the previous quarter.

SSR Mining commenced production of zinc concentrate from stockpiles later in the second quarter, and produced approximately 1.5 million pounds of zinc. No zinc sales occurred during the quarter.

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