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Message: Pirquitas Mine and Project Development Update

Pirquitas Mine and Project Development Update

posted on Feb 10, 2010 10:24AM

an update from the company with no negative developments for a change:

Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) today reports that the ramp-up at its wholly-owned Pirquitas Mine in Argentina is proceeding well and the engineering work for the San Luis Project in Peru and the Pitarrilla Project in Mexico is ongoing.

Pirquitas Mine

At the Pirquitas Mine, 18.0 million tonnes of material have been moved since the mine commenced operations in July 2008. The mine produced 1.1 million ounces of silver and shipped 800,000 ounces in 2009. Production in 2010 is planned to be seven million ounces of silver at an average operating cost of $9.00 per ounce silver (net of by-product credits).

The Pirquitas open pit mine operated at the design rate of 43,000 tonnes per day at a cost of $2.15/tonne (material mined) for 2009. Sulphide ore is currently being exposed.

The plant has a crushing capacity of 6,000 tonnes per day. This feeds a pre-concentration plant that is designed to feed the mill at a rate of 3,200 tonnes per day. The mill's feasibility design capacity was exceeded in both November and December.

The mill is processing transitional ore and is anticipated to process sulphide ore at full capacity in Q2 2010. The tin circuit is commissioned and will be operated when suitable material is available in Q2 2010.

http://finance.yahoo.com/news/Pirquitas-Mine-and-Project-iw-1446209290.html?x=0

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