Dia Bras continues to achieve record production results in the second quarter of 2012
TSX Venture Exchange – DIB
Bolsa de Valores de Lima – DIB
TORONTO, July 16, 2012 /PRNewswire/ – Dia Bras Exploration Inc. (TSX-V:DIB) (BVL:DIB) (“Dia Bras” or the
“Company”) is pleased to announce its production results for the second quarter of( )2012.
_____________________________________________________________________ | | |Press Release Highlights: | | | | -- Total of 323,396 tonnes processed in the second quarter of | | 2012 compared to 37,408 tonnes in the same period of 2011. | | | | -- Total silver ("Ag") production of 670,705 ounces ("oz") in | | the second quarter of 2012 compared to 63,942 oz for the same| | period of 2011. | | | | -- Total copper ("Cu") production of 4.1 million pounds ("lb") | | in the second quarter of 2012 compared to 0.8 million lb for | | the same period of 2011. | | | | -- Total lead ("Pb") production of 9.1 million lb in the second | | quarter of 2012 compared to 0.1 million lb for the same | | period of 2011. | | | | -- Total zinc ("Zn") production of 15.3 million lb in the second| | quarter of 2012 compared to 4.4 million lb for the same | | period of 2011. | | | | -- Total gold ("Au") production in the Yauricocha Mine was 2,876| |________ounces_in_the_second_quarter_2012.___________________________|
Daniel Tellechea, President and CEO of Dia Bras, commented: “Dia Bras achieved record-breaking production in the second quarter of
2012. Consolidation of operations in Peru and Mexico has led to
consistent production growth throughout 2012 establishing Dia Bras as
one of the new, mid-tier precious and base metal producers in Latin
Dia Bras achieved record-breaking production in the second quarter of
2012. The acquisition of Sociedad Minera Corona S.A. (“Corona”) in May
2011, coupled with the announcement of commercial production at the
Bolivar Mine were the two main drivers of the substantial
year-over-year increases in metal production. The Company reached a
total of 323,396 tonnes of ore processed (compared to 37,408 in 2011)
from all operations, representing a 765% increase year-over-year. These
substantial increases in production have resulted in record production
figures in the second quarter and the first half of 2012. A summarized
table of consolidated production results is presented below.
Consolidated Three months ended Sixmonths ended Production June30,2012 June Var. % June June Var. % 30, 2011 30, 2012 30,2011 Silver (oz) 670,705 63,942 949% 1,254,952 122,272 926% Copper (000 4,122 814 406% 8,000 1,373 483% lbs) Lead (000 9,084 108 8336% 17,014 244 6873% lbs) Zinc (000 15,282 4,392 248% 28,905 7,966 263% lbs) Gold (oz) 2,876 - - 5,901 - N.A.
Yauricocha Mine, Peru
The Yauricocha Mine in Peru continued to be the Company’s largest
producing mine with a total of 217,078 tonnes processed in the second
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 second quarter of 2012, aggregate production of these ore
bodies was 544,707 oz of Ag, 2.2 million lb of Cu, 9.0 million lb of
Pb, 11.5 million lb of Zn and 2,876 oz of Au. A comparative summary of
production from the Yauricocha Mine for the first and second quarters
of 2012 has been provided below.
Yauricocha Three months ended2 Sixmonths ended Production1 June 30, 2012 March 31, 2012 Var% June 30, 2012 Silver (oz) 544,707 492,432 11% 1,037,138 Copper (000 lbs) 2,212 2,634 -16% 4,846 Lead (000 lbs) 8,958 7,846 14% 16,804 Zinc (000 lbs) 11,465 10,485 9% 21,950 Gold (oz) 2,876 3,025 -5% 5,901
1 For a detailed summary of production for the Yauricocha Mine, please click here. 2Please note that 2012 will be the Company's first full year of production from the Yauricocha Mine, as such comparable data has been provided only for the first and second quarters of 2012.
Bolivar Mine, Mexico
Since the announcement of commercial production on November 29, 2011, at
the Bolivar Mine, the new Piedras Verdes mill has continued to
consistently increase production throughput. During the second quarter
of 2012, total ore processed at the Bolivar Mine increased 203% with
86,061 tonnes processed compared to 28,415 tonnes in the same period of
2011. This substantial increase resulted in second quarter production
of silver increasing 52% year-over-year for a total of 52,544 oz,
compared to 34,585 oz in 2011; and copper production increasing 135%
year-over-year with 1.9 million lb produced compared to 0.8 million lb
in 2011. Despite this substantial increase in throughput during the
second quarter of 2012, zinc production decreased 13% year-over-year to
3.8 million lb compared to 4.4 million lb in 2011. The decrease in zinc
production resulted from a lower head-grade of 2.51% in the second
quarter of 2012 compared to 7.94% in the same period in 2011. A summary
of production from the Bolivar Mine for the second quarter of 2012 has
been provided below.
Bolivar Three months ended Six months ended Production1 June 30, June 30, %Var. June 30, June 30, 2011 % Var. 2012 2011 2012 Silver (oz) 52,544 34,585 52% 96,903 56,708 71% Copper (000 1,910 814 135% 3,154 1,373 130% lbs) Zinc (000 3,817 4,392 -13% 6,954 7,966 -13% lbs)
1For a detailed summary of production for the Bolivar Mine please click here.
The Company continues to realize operating efficiencies at the Bolivar
Mine and has successfully increased throughput each month in 2012. The
new Piedras Verdes mill achieved its highest production rate in June
2012 with 30,005 tonnes processed per month.
Total production at Cusi increased 125% in the second quarter of 2012
with 20,257 tonnes processed compared to 8,993 tonnes in the same
period in 2011. During the second quarter of 2012 head grades for
silver and lead were 160 g/t Ag and 0.45% Pb, compared to 131 g/t Ag
and 0.94% in the same period of 2011. A summary of production from the
Cusi operation for the second quarter of 2012 has been provided below.
CusiProduction1 Three months ended Six months ended June June %Var. June June 30,2011 % Var. 30, 2012 30,2011 30, 2012 Silver (oz) 73,454 29,357 150% 120,911 65,564 84% Silver 72,059 23,647 205% 116,728 54,868 113% Flotation Silver 1,395 5,709 -76% 4,183 10,696 -61% Lixiviation Lead (000 lbs) 126 108 17% 210 244 -14%
1For a detailed summary of production for the Cusi Project please click here.
At the Annual Meeting of Dia Bras Shareholders held on June 29, 2012,
all of the resolutions tabled at the meeting were overwhelmingly
approved by shareholders, including the re-election of Alberto Arias,
Douglas F. Cater, Steven G. Dean, John S. Donnelly, Guillermo Kaelin,
Philip Renaud and Daniel Tellechea as Directors.
Included in the resolutions approved at the meeting was the adoption of
the Dia Bras restricted share unit plan (“RSUP”) for the benefit of the
employees, consultants, officers and directors of the Corporation and
its subsidiaries. The RSUP provides for a maximum number of 5,000,000
restricted share units to be reserved for issuance under the RSUP. A
reduction of the number of shares reserved under the current stock
option plan of the Corporation from 8,300,000 to 3,300,000 was also
approved by the shareholders.
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.
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.
SOURCE Dia Bras Exploration Inc.