Santacruz Silver (TSXV: SCZ) turned in a robust second quarter, mining 1.57 million ounces of silver and 23,240 tonnes of zinc across its portfolio as each of its operations lifted output from the prior three months.
Silver production rose 17% from the first quarter and 11% from the same period a year earlier, while zinc climbed 7% quarter-over-quarter and 10% year-over-year. Lead added 3,165 tonnes, up 18% sequentially, and copper contributed 337 tonnes. On a silver-equivalent basis, the company produced 2.81 million ounces.
The gains leaned heavily on higher throughput. Santacruz milled 521,956 tonnes over the quarter, a 7% step up from the first quarter and 9% more than a year ago. Recoveries held up well, ranging from 72% to 92% for silver and 77% to 96% for zinc across the mines.
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Grades varied by site. The Caballo Blanco group delivered the richest ore at 183 grams per tonne silver and 7.30% zinc, while Bolivar ran 165 g/t silver and 5.55% zinc. Bolivar was the quarter’s standout, lifting silver output 32% to 343,522 ounces as the mine continued to recover from flooding that struck in May 2025.
“Q2 2026 was marked by strong operational performance across our portfolio, with silver and zinc production increasing quarter-over-quarter at each of our operations,” Chief Executive Arturo Préstamo said.
The results came despite disruption on the ground, including road blockades that lasted more than 50 days. Préstamo said his teams “leveraged their operational expertise and regional experience to keep our mines fully supplied and producing without interruption.”
Santacruz Silver last traded at $8.75 in the TSX Venture.
