Resources Inc.: Pirquitas Silver Mine Production Guidance for 2010
VANCOUVER, BRITISH COLUMBIA, Dec 10, 2009 (Marketwire via COMTEX
News Network) -- Silver Standard Resources Inc. (TSX:SSO)(NASDAQ:SSRI)
provides an update on progress and expected production levels for 2010 at its
wholly-owned Pirquitas Mine in Argentina which achieved commercial production
effective December 1, 2009.
The mine is operating as planned and the mill continues to
process oxide and transitional ore until the sulphide ore currently being
exposed from the open pit is processed starting in the first quarter of 2010.
Due to the transition from oxide and transitional ore to sulphide ore in the
first quarter, the company estimates full year production of silver to be 7
million ounces, and tin production to be 2 million pounds. Average operating
costs for 2010 are expected to be approximately US$9.00 per ounce of silver
net of tin credits. The company expects to achieve name plate production
levels of approximately 8 to 10 million ounces of silver per year starting in
2011. Costs per ounce of silver are expected to decline as silver production
A conference call with management to review progress at the
Pirquitas Mine and to discuss the Snowfield and Brucejack mineral resource
updates (see News Release dated December 1, 2009) will be held on Thursday,
December 10, 2009 at 11:00 a.m. EST.
Toll-free in North America: (866) 816-1982
All other calls: (913) 312-0398
This call will also be web-cast and can be accessed at the
following web location:
The call will be archived and available at www.silverstandard.com
after December 10, 2009.
Audio replay will be available for one week by calling:
North America: (888) 203-1112, replay passcode 4831338.
dial: (719) 457-0820, replay passcode 4831338.
To receive Silver Standard's news releases by e-mail, contact
Paul LaFontaine, director, investor relations at firstname.lastname@example.org or call
Statements contained in this news release that are not
historical fact, such as statements regarding the economic prospects of the
company's projects, mineral reserve and resource estimates, estimates and
expectations of future mineral production, expectations regarding the
ramp-up, design, tin circuit integration, mine life, production and costs per
ounce of silver at the Pirquitas Mine, future plans or future revenues, and
the timing of development or potential expansion or improvements, are
forward-looking statements as that term is defined in Canadian Securities
legislation and the Private Securities Litigation Reform Act of 1995. Such
forward looking statements are subject to risks and uncertainties which could
cause actual results to differ materially from estimated results. Such risks
and uncertainties include, but are not limited to, the company's ability to
raise sufficient capital to fund development, changes in economic conditions
or financial markets including changes in the development of a secondary
market for Canadian asset backed commercial paper restructured notes, changes
in prices for the company's mineral products or increases in input costs,
variances in ore grade, mill throughput, or recovery rates from those assumed
in mining plans, litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments in places where the
company does business, technological and operational difficulties or
inability to obtain permits encountered in connection with exploration and
development activities, labour relations matters, and changing foreign
exchange rates, all of which are described more fully in the company's Form
20-F and other filings with Canadian regulators and the Securities and
Exchange Commission. Our forward-looking statements are based on the beliefs,
expectations and opinions of management on the date the statements are made,
and we do not assume any obligation to update forward-looking statements if
circumstances or management's beliefs, expectations or opinions should
change, other than as required by applicable law. For the reasons set forth
above, you should not place undue reliance on forward-looking statements.
Source: Silver Standard Resources Inc.
SOURCE: Silver Standard Resources Inc.
Silver Standard Resources Inc.
Robert A. Quartermain
President & CEO
Silver Standard Resources Inc.
Director, Investor Relations
N.A. toll-free: (888) 338-0046 or Direct: (604) 484-8212