Silver Quest Resources Ltd fka SQI (SQI)

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SilverCrest’s initial gold and silver production imminent July 29, 2010

Posted by Fortbridge in Mining.

SilverCrest Mines Inc. (TSXV: SVL)) reports that gold and silver production at its Santa Elena Mine located in Sonora, Mexico is imminent, with a first metal pour scheduled for early September.

Project construction has proceeded as scheduled, and according to budget. Operation activities, such as mining, crushing and pad loading, have been underway for some time and the application of the leach solutions will commence shortly. SilverCrest forecasts that Santa Elena Mine will reach full production rates in the fourth quarter of this year.

The estimated capital cost of SilverCrest’s fully financed Santa Elena project is US$20 Million, with an estimated life of mine cash cost of less than US$375 per ounce of gold equivalent. The Company anticipates that the 2,500 tonne per day facility will produce approximately 35,000 ounces of gold and 600,000 ounces of silver per year.

Full announcement: http://announcements.fortbridge.net/2010/07/29/silvercrest%E2%80%99s-initial-gold-and-silver-production-imminent/