TSX Venture Exchange - DIB
Bolsa de Valores de Lima - DIB
TORONTO, Oct. 23, 2012 /CNW/ - Dia Bras Exploration Inc. (TSX-V:DIB) (BVL:DIB) ("Dia Bras" or the "Company") is pleased to announce its production results for the third quarter of 2012.
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Daniel Tellechea, President and CEO of Dia Bras, commented: "Dia Bras achieved another record breaking quarter of production in the third quarter of 2012. The Company continued to consolidate operations and focus on operating efficiencies in Peru and Mexico during the period. Management remains focused on continuing to expand Dia Bras' production profile as a growing mid-tier Latin American precious and base metal producer throughout 2012. "
Mine Operations
Dia Bras achieved record-breaking production in the third quarter of 2012. The announcement of commercial production at the Bolivar Mine coupled with improvements in operating efficiencies resulted in year-over-year increase of total metal production. The Company achieved a total of 317,355 tonnes of ore processed (compared to 251,526 tonnes in 2011) from all operations, representing a 26% increase year-over-year. A summarized table of consolidated production results is presented below.
| Consolidated Production | 3 months ended | 9 months ended | |||||
| Sept. 30, 2012 | Sept. 30, 2011 | % Var. | Sept. 30, 2012 | Sept. 30, 2011 | % Var. | ||
| Silver production (oz) | 681,845 | 585,483 | 16.5% | 1,936,798 | 905,732 | 113.8% | |
| Copper production (000 lbs) | 3,517 | 3,891 | -9.6% | 8,988 | 5,895 | 52.5% | |
| Lead production (000 lbs) | 10,009 | 8,302 | 20.6% | 27,024 | 11,157 | 142.2% | |
| Zinc production (000 lbs) | 15,402 | 14,493 | 6.3% | 39,814 | 18,940 | 110.2% | |
| Gold Production (oz) | 2,409 | N.A. | N.A. | 8,310 | N.A. | N.A. | |
Yauricocha Mine, Peru
The Yauricocha Mine in Peru continued to be the Company's largest producing mine with a total of 221,033 tonnes processed in the third 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 third quarter of 2012, aggregate production of these ore bodies was 559,719 oz of Ag, 2.0 million lb of Cu, 9.8 million lb of Pb, 14.1 million lb of Zn and 2,409 oz of Au. A summary of production from the Yauricocha Mine for the third quarter of 2012 has been provided below.
| Yauricocha Production1 | 3 months ended | 9 months ended | Period from | |||||
| Sept. 30, 2012 | Sept. 30, 2011 | % Var. | Sept. 30, 2012 | May 26-Sep 30, 2011 | % Var. | |||
| Silver production (oz) | 559,719 | 497,803 | 12.4% | 1,596,857 | 695,780 | 129.5% | ||
| Copper production (000 lbs) | 2,043 | 3,082 | -33.7% | 6,889 | 4,905 | 40.5% | ||
| Lead production (000 lbs) | 9,825 | 8,230 | 19.4% | 26,629 | 10,841 | 145.6% | ||
| Zinc production (000 lbs) | 14,135 | 10,131 | 39.5% | 36,085 | 13,348 | 170.3% | ||
| Gold Production (oz) | 2,409 | N.A. | N.A. | 8,310 | N.A. | N.A. | ||
1 For a detailed summary of production for the Yauricocha Mine please click here.
Bolivar Mine, Mexico
Since the announcement of commercial production on November 29, 2011, the new Piedras Verdes mill has continued to increase the production profile of the Bolivar Mine. During the third quarter of 2012, total ore processed at the Bolivar Mine increased 110% with 71,239 tonnes processed compared to 33,859 tonnes in the same period of 2011. This resulted in third quarter production of copper increasing 82% year-over-year for a total of 1.5 million lb, compared to 0.8 million lb in 2011. Despite this substantial increase in throughput during the third quarter of 2012, zinc production decreased 71% year-over-year to 1.3 million lb compared to 4.4 million lb in 2011. The decrease in zinc production resulted from a lower head-grade of 1.21% in the third quarter of 2012 compared to 6.65% in the same period in 2011. Additionally, silver production decreased by 2.3% in the third quarter of 2012 to 39,239 oz compared to 40,145 oz in the same period of 2011. This decrease in production was the result of a 53% decline in head grade from 46 g/t Ag in 2011 compared to 22 g/t Ag in 2012. A summary of production from the Bolivar Mine for the third quarter of 2012 has been provided below.
| Bolivar Production1 | 3 months ended | 9 months ended | ||||||
| Sept. 30, 2012 | Sept. 30, 2011 | % Var. | Sept. 30, 2012 | Sept. 30, 2011 | % Var. | |||
| Copper production (000 lbs) | 1,473 | 809 | 82.1% | 2,099 | 990 | 112.0% | ||
| Silver production (oz) | 39,239 | 40,145 | -2.3% | 136,142 | 96,853 | 40.6% | ||
| Zinc production (000 lbs) | 1,267 | 4,362 | -71.0% | 3,729 | 5,592 | -33.3% | ||
1 For a detailed summary of production for the Bolivar Mine please click here.
Cusi, Mexico
Total production at Cusi increased 170% in the third quarter of 2012 with 25,084 tonnes processed compared to 9,270 tonnes in the same period in 2011. The higher tonnage is explained by the additional processing of 11,965 tonnes of historic tailings at the Mal Paso plant while Cusi's mineral accounted for 13,120 tonnes. In this context, the combined effect of historic tailings and Cusi's mineral during the third quarter of 2012 drove silver and lead grades down to 158 g/t and 0.56%, compared to 181 g/t and 0.62% in the same period of 2011, respectively. A summary of production from the Cusi operation for the third quarter of 2012 has been provided below.
| Cusi Production1 | 3 months ended | 9 months ended | ||||||
| Sept. 30, 2012 | Sept. 30, 2011 | % Var. | Sept. 30, 2012 | Sept. 30, 2011 | % Var. | |||
| Silver production (oz) | 82,888 | 47,535 | 74.4% | 203,799 | 113,099 | 80.2% | ||
| Silver Flotation | 82,888 | 37,137 | 123.2% | 199,616 | 92,005 | 117.0% | ||
| Silver Lixiviation | 0 | 10,398 | -100.0% | 4,183 | 21,093 | -80.2% | ||
| Lead production (000 lbs) | 185 | 72 | N.A. | 395 | 316 | N.A. | ||
1 For a detailed summary of production for the Cusi Project please click here.
Quality Assurance
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 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.
The Company's shares trade on the Bolsa de Valores de Lima and TSXV under the symbol "DIB".
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.
Forward-looking Statements
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.
PDF available at: http://stream1.newswire.ca/media/2012/10/23/20121023_C9106_DOC_EN_19638.pdf
PDF available at: http://stream1.newswire.ca/media/2012/10/23/20121023_C9106_DOC_EN_19642.pdf
PDF available at: http://stream1.newswire.ca/media/2012/10/23/20121023_C9106_DOC_EN_19641.pdf
SOURCE: Dia Bras Exploration Inc.
For further information on Dia Bras Exploration Inc. visit www.diabras.com or contact:
Daniel Tellechea
President & CEO
Dia Bras Exploration Inc.
1 (866) 493-9646
Matt Morrish
Director, Investor Relations
Dia Bras Exploration Inc.
1 (866) 493-9646
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