SilverCrest posts record quarterly silver production

Mexico-focused SilverCrest Mines has logged a record level of silver output for the third quarter of 2012.

The Vancouver-based silver and gold junior says output hit 151,368 ounces for the past quarter from its Santa Elena mine in Sonoroa Mexico, for a 42% gain in production year-on-year.

SilverCrest also saw a 57% gain in silver sales during the same period for a total of 152,088 ounces offloaded. Gold sales also enjoyed gains of 4% to reach 7,923 ounces.

As a result of the output increase the company has raised its silver production guidance to 535,000 ounces from 435,000 ounces, while annual gold production guidance holds steady at 33,500 ounces.

SilverCrest's Santa Helena mine is situated 150 kilometers to the northeast of Hermosillo in Mexico. The mine is set to produce 4.8 million ounces of silver and 179,000 ounces of gold during the 6 and a half year life of the open pit phase.