VANCOUVER, Dec. 3, 2018 /PRNewswire/ - SSR Mining Inc.
(NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") is pleased to announce it
has declared commercial production at the Chinchillas mine as of
December 1, 2018.
Paul Benson, President and CEO
said, "Declaring commercial production at Chinchillas marks another
major milestone as we continue to deliver growth and value for
shareholders. Our team's execution capabilities brought the mine in
on schedule, in line with our expectations. Together with the
communities and government, we are building on our success at Puna
Operations over the last few years."
Activities required to support sustainable ore delivery from the
Chinchillas mine to the Pirquitas plant have been completed,
including pre-stripping of the pit, completion of road bypasses,
refurbishment and mobilization of the haul truck fleet, and
construction of the crushed ore stockpile dome at the Pirquitas
site. Ore delivery to the Pirquitas plant ramped up through
November and we demonstrated targeted haulage rates. The Pirquitas
plant processed Chinchillas ore at a rate of approximately 3,000
tonnes per day during test processing. We expect this rate to
progressively increase to our targeted plant throughput rate of
4,000 tonnes per day as the plant transitions to Chinchillas ore in
December 2018.
The remaining scope of the Chinchillas project includes the
completion of various infrastructure at the Chinchillas and
Pirquitas sites, which is expected to be concluded through the
first quarter of 2019. The entire project scope is on track to be
completed on budget.
Qualified Person
The scientific and technical information contained in this news
release has been reviewed and approved by Bruce Butcher, P.Eng., a qualified person under
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects and our Director, Mine
Planning.
About SSR Mining
SSR Mining Inc. is a Canadian-based precious metals producer
with three operations, including the Marigold gold mine in
Nevada, U.S., the Seabee Gold
Operation in Saskatchewan, Canada
and the 75%-owned and operated Puna Operations joint venture in
Jujuy, Argentina. We also have two
feasibility stage projects and a portfolio of exploration
properties in 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.
For further information contact:
W. John DeCooman, Jr.
Senior Vice President, Business Development and Strategy
SSR Mining Inc.
Vancouver, BC
Toll free: +1 (888) 338-0046
All others: +1 (604) 689-3846
E-Mail: invest@ssrmining.com
To receive SSR Mining's news releases by e-mail, please
register using the SSR Mining website at
www.ssrmining.com.
Cautionary Note Regarding Forward-Looking
Statements:
This news release contains forward-looking information within
the meaning of Canadian securities laws and forward- looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements"). All statements, other than statements of historical
fact, are forward-looking statements. Generally, forward-looking
statements can be identified by the use of words or phrases such as
"expects," "anticipates," "plans," "projects," "estimates,"
"assumes," "intends," "strategy," "goals," "objectives,"
"potential," or variations thereof, or stating that certain
actions, events or results "may," "could," "would," "might" or
"will" be taken, occur or be achieved, or the negative of any of
these terms or similar expressions. The forward-looking statements
in this news release relate to, among other things: timing of
production and production levels at the Chinchillas mine, including
the expectation that the rate at which the Pirquitas plant
processes Chinchillas ore will progressively increase toward a
targeted throughput rate of 4,000 tonnes per day; the effects of
laws, regulations and government policies affecting our operations
or potential future operations; expected timing of completion of
construction milestones at the Chinchillas project, including the
expectation that the completion of various infrastructure will be
concluded through the first quarter of 2019 and the Chinchillas
project will be completed on budget to support sustained delivery
of ore to the Pirquitas plant; and our plans and expectations for
Puna Operations. These forward-looking statements are subject to a
variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those
expressed or implied, including, without limitation, the following:
uncertainty of production, development plans and cost estimates for
Puna Operations; commodity price fluctuations; political or
economic instability and unexpected regulatory changes; currency
fluctuations; the possibility of future losses; general economic
conditions; counterparty and market risks related to the sale of
our concentrate and metals; uncertainty in the accuracy of Mineral
Reserves and Mineral Resources estimates and in our ability to
extract mineralization profitably; differences in U.S. and Canadian
practices for reporting Mineral Reserves and Mineral Resources;
lack of suitable infrastructure or damage to existing
infrastructure; future development risks, including start-up delays
and cost overruns; our ability to obtain adequate financing for
further development programs and opportunities; uncertainty in
acquiring additional commercially mineable mineral rights; delays
in obtaining or failure to obtain governmental permits, or
non-compliance with our permits; the impact of governmental
regulations, including health, safety and environmental
regulations, including increased costs and restrictions on
operations due to compliance with such regulations; unpredictable
risks and hazards related to the development and operation of a
mine or mineral property that are beyond our control; potential
labour unrest, including labour actions by our unionized employees
at Puna Operations; indigenous peoples' title claims and rights to
consultation and accommodation may affect our existing operations;
certain transportation risks that could have a negative impact on
our ability to operate; recoverability of value added tax and
significant delays in the collection process in Argentina; claims and legal proceedings,
including adverse rulings in litigation against us and/or our
directors or officers; uncertainties related to title to our
mineral properties and the ability to obtain surface rights; civil
disobedience in the countries where our mineral properties are
located; operational safety and security risks; actions required to
be taken by us under human rights law; reputation loss resulting in
decreased investor confidence, increased challenges in developing
and maintaining community relations and an impediment to our
overall ability to advance our projects; risks normally associated
with the conduct of joint ventures; and those various risks
and uncertainties identified under the heading "Risk Factors" in
our most recent Annual Information Form filed with the Canadian
securities regulatory authorities and included in our most recent
Annual Report on Form 40-F filed with the U.S. Securities and
Exchange Commission. Our forward-looking statements are
based on what our management considers to be reasonable
assumptions, beliefs, expectations and opinions based on the
information currently available to it. Assumptions have been made
regarding, among other things, our ability to carry on our
development activities, our ability to meet our obligations under
our property agreements, the discovery of Mineral Resources and
Mineral Reserves on our mineral properties, the timely receipt of
required approvals and permits, including those approvals and
permits required for successful project permitting, construction
and operation of Puna Operations, the price of the minerals we
produce, the costs of operating expenditures, our ability to
operate in a safe, efficient and effective manner, our ability to
obtain financing as and when required and on reasonable terms, our
ability to continue operating Puna Operations, dilution and mining
recovery assumptions, assumptions regarding stockpiles, the success
of mining, processing, exploration and development activities, the
accuracy of geological, mining and metallurgical estimates, no
significant unanticipated operational or technical difficulties,
maintaining good relations with the communities surrounding Puna
Operations, no significant events or changes relating to
regulatory, environmental, health and safety matters, certain tax
matters and no significant and continuing adverse changes in
general economic conditions or conditions in the financial markets
(including commodity prices, foreign exchange rates and inflation
rates). You are cautioned that the foregoing list is not exhaustive
of all factors and assumptions which may have been used. We cannot
assure you that actual events, performance or results will be
consistent with these forward-looking statements, and management's
assumptions may prove to be incorrect. Our forward-looking
statements reflect current expectations regarding future events and
speak only as of the date hereof and we do not assume any
obligation to update forward-looking statements if circumstances or
management's beliefs, expectations or opinions should change other
than as required by applicable law. For the reasons set out above,
you should not place undue reliance on forward-looking
statements.
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SOURCE SSR Mining Inc.