TORONTO, May 2, 2012 /PRNewswire/ - Dia Bras Exploration Inc. (TSX-V:DIB) (BVL:DIB) ("Dia Bras" or the "Company") is pleased to announce its production results for the first quarter of 2012.
Press Release Highlights:
Total of 286,022 tonnes processed in the first quarter of 2012 compared
to 30,867 tonnes in the same period of 2011. An 827% increase
Total silver ("Ag") production of 588 thousand ounces ("Koz") in the
first quarter of 2012 compared to 58 Koz for the same period of 2011. A
908% increase year-over-year.
Total copper ("Cu") production of 3.9 million pounds ("lb") in the first
quarter of 2012 compared to 0.6 million lb for the same period of 2011.
A 593% increase year-over-year.
Total lead ("Pb") production of 7.9 million lb in the first quarter of
2012 compared to 0.1 million lb for the same period of 2011. A 5,719%
Total zinc ("Zn") production of 13.6 million lb in the first quarter of
2012 compared to 3.6 million lb for the same period of 2011. A 281%
- Total gold ("Au") production in the Yauriocha Mine was 2,995 ounces in the first quarter 2012.
Daniel Tellechea, President and CEO of Dia Bras, commented: "We are very pleased with the first quarter results from all operations. These results confirm the transition of Dia Bras from a junior exploration and development company to a mid-tier precious metals producer in Latin America. Management will continue to focus on maximizing efficiencies and consolidating operations in Peru and Mexico in an effort to continue production growth in 2012".
Dia Bras achieved record production results for the first quarter of 2012. The acquisition of Sociedad Minera Corona S.A. ("Corona") in May 2011 was the main driver of the substantial year-over-year increases in metal production. The Company achieved a total of 286,022 tonnes of ore processed from all operations representing an 827% increase year-over-year. These substantial increase in processing resulted in record quarterly production figures. A summarized table of consolidated production results is presented below.
|Consolidated Production||Three-Months Ended|
|Copper (000 lb)||3,878||559||593%|
|Lead (000 lb)||7,930||136||5719%|
|Zinc (000 lb)||13,623||3,574||281%|
Yauricocha Mine, Peru
The Yauricocha Mine in Peru continued to be the Company's largest producing mine with a total of 211,937 tonnes processed in the first quarter of 2012. Mineralization at the Yauricocha Mine is hosted in three different zones including the Copper, Lead-Oxide ("Oxides") and Polymetallic ore-bodies.
During the first quarter of 2012, aggregate production of these ore bodies was 496 Koz of Ag, 2.6 million lb of Cu, 7.8 million lb of Pb, 10.5 million lb of Zn and 2,995 oz of Au. A summary of production from the Yauricocha Mine for the first quarter of 2012 has been provided below.
|Yauricocha Production1||Three-Months Ended2|
|March 31, 2012|
|Copper (000 lb)||2,634|
|Lead (000 lb)||7,846|
|Zinc (000 lb)||10,485|
|1||For a detailed summary of production table for the Yauricocha Mine please click here.|
Please note that 2012 marks the first full year of production from the
for the Company, as such no comparable data has been provided for the first quarter
Currently, the Company is completing an updated NI 43-101 resource calculation and anticipates releasing it in the second quarter of 2012.
Bolivar Mine, Mexico
With the announcement of commercial production November 29, 2011, first quarter of 2012 was the first full quarter of production since completion of the new Piedras Verdes Mill. During this period total ore processed at the Bolivar Mine increased 154% with 61,949 tonnes compared to 25,980 tonnes in the first quarter of 2011. As a result, production of silver increased 101% year-over-year with a total of 44 Koz (22 Koz in 2011) and total copper production increased 122% year-over-year with 1.2 million lb produced (0.6 million lb in 2011). Despite the substantial increase in throughput during the first quarter of 2012, zinc production decreased 12% year-over-year to 3.1 million lb (compared to 3.6 million lb in 2011) as a result of a lower head grade of 2.9% compared to 7.1% in the first quarter of 2011. A summary of production from the Bolivar Mine for the first quarter of 2012 has been provided below.
|Bolivar Production1||Three-Months Ended|
|Copper (000 lb)||1,244||559||122%|
|Zinc (000 lb)||3,137||3,574||-12%|
|1 For a detailed summary of production table for the Bolivar Mine please click here.|
The Company continues to realize operating efficiencies at the Bolivar Mine and in March of 2011 achieved its highest monthly throughput with 25,038 tonnes per month processed. Currently, the Company is completing an updated NI 43-101 resource calculation and anticipates releasing it by the end of the second quarter this year.
During the first quarter of 2012 the Cusi Pilot-Mining operation processed 12,136 tonnes through flotation and 7,553 tonnes through lixiviation compared to 4,887 tonnes and 6,821 tonnes, respectively, during the same period in 2011. This substantial increase in tonnes processed was planned to offset projected decreases in head-grades for silver and lead. During the first quarter of 2012 head grades for silver and lead were 156 g/t Ag (compared to 277 g/t Ag in the same period of 2011) and 0.52% Pb (compared to 1.78% in in the same period of 2011). A summary of production from Cusi's Pilot-Mining Operations for the first quarter of 2012 has been provided below.
|Cusi Production1||Three-Months Ended|
|Silver Flotation (Koz)||45||31||43%|
|Silver Lixiviation (Koz)||3||5||-44%|
|Lead (000 lb)||84||136||-38%|
|1 For a detailed summary of production table for the Cusi Pilot-Mining operation please click here.|
Currently, the Company is in the midst of a substantial exploration programme on the Cusi property that will focus on expanding known zones of disseminated-type silver mineralization in the vicinity of the Promontorio and Santa Eudwiges deposits. Additionally, on a more regional scale, exploration work will focus on defining the continuity of this high-grade, disseminated-type silver mineralization along the Cusi Fault that spans some 3 kilometers between the Promontorio and Santa Eduwiges. The Company anticipates completing an updated NI 43-101 resource calculation on the property in the fourth quarter of 2012.
The technical content of this news release has been approved by Thomas L. Robyn, Ph.D., CPG, RPG, a Qualified Person as defined in NI 43-101 and Head of Exploration for Dia Bras Exploration, Inc.
About Dia Bras
Dia Bras Exploration is a Canadian exploration & mining company focused on precious and base metals in Chihuahua State, other areas of northern Mexico, and most recently at its Yauricocha silver-lead-zinc-copper-gold mine in Peru. The Company is accelerating exploration at the Yauricocha property as well as pursuing the development and exploration of its most advanced Mexican assets - the Bolivar Property (copper-zinc-silver) and the Cusi Property (silver-lead) and is exploring in Mexico several precious metal targets such as La Sidra gold project at the Bolivar Property, Las Coloradas silver project at Melchor Ocampo (Zacatecas State), the Bacerac silver project (Sonora State), and the La Verde gold project at the Batopilas Property (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molybdenum deposit (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molyebdenum deposit.
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 news release.
Except for statements of historical fact, all statements in this news release without limitation regarding new projects, acquisitions, future plans and objectives are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
SOURCE Dia Bras Exploration Inc.