Pinos Altos is Agnico-Eagle’s first mine in Mexico. It poured its first gold in July 2009 from the Santo Nino heap leach, and in September 2009 from the mineral processing plant. The mine achieved commercial production in November 2009, and underground mining began in Q2 2010. The stand-alone Creston Mascota satellite operation poured its first gold in December 2010, and achieved commercial production on March 1, 2011. Pinos Altos (including Creston Mascota) has proven and probable reserves containing 3.3 million ounces of gold and 92 million ounces of silver* (44 million tonnes grading 2.3 grams/tonne gold and 65 grams/tonne silver) as of December 31, 2010.
* Source Pinos Altos December 31, 2010 Reserves and Resources including Creston Mascota
Q3 2011
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In Q3 2011, record payable gold production of 52,739 ounces at a total cash cost of $295 from mill and heap leach pads; this amount includes 11,741 ounces from the Creston Mascota operation. Also produced 485,000 ounces silver. Processed 1,159,000 tonnes of ore, a record quarterly throughput. Minesite costs were $27 per tonne.
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From January through September 2011, payable gold production of 151,806 ounces at a total cash cost of $302 per ounce. Also produced 1,343,000 ounces silver. Processed 3,306,000 tonnes of ore, with minesite costs of $28 per tonne.
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Underground mine operated at 3,300 tonnes per day in Q3 2011, the first period in excess of its initial 3,000-tonnes/day design capacity.
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Scoping study underway to evaluate increasing underground mine capacity through an additional production ramp or new production shaft; study expected to be completed near year-end 2011.
- Exploration focusing on Cerro Colorado, Santo Nino and Oberon de Weber zones, the Creston Mascota, Cubiro and Bravo satellite zones, and Reyna de Plata zone to the north.