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ML: Silver Standard Provides Q1 2015 Production Results
 
VANCOUVER, April 13, 2015 /PRNewswire/ – Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) (“Silver Standard”) provides its first quarter 2015 operational results, with record quarterly production at Pirquitas and another strong quarter at Marigold.
First Quarter 2015 Operating Highlights:
“This first quarter of 2015 continues our trend of delivering strong operating performance at both mines. We have two large, high-productivity mines that are well positioned within our industry,” said John Smith, President and CEO. “At Pirquitas we achieved record production of 2.7 million ounces of silver in a quarter that the mine has traditionally had challenging weather conditions. Marigold produced over 55,000 ounces of gold, above expectations. These results were achieved by our people, working together in a disciplined manner. An emphasis on safety, strong production and lower costs is our simple but clear agenda.”
Pirquitas mine, Argentina
Note: Percent changes are calculated using rounded numbers presented in the table.
The Pirquitas mine produced 2.7 million ounces of silver during the first quarter of 2015, a quarterly record for the mine. The quarter-on-quarter increase in silver production is primarily due to an increase in silver mined grade resulting in higher mill feed grade, and to the sustained higher silver recoveries. The mine also produced 3.8 million pounds of zinc in zinc concentrate in the first quarter. We recognized sales of 2.9 million ounces of silver and 2.8 million pounds of zinc for the quarter. Pirquitas was not impacted by the adverse weather conditions observed in northern Chile.
Ore was milled at an average rate of 4,208 tonnes per day in the first quarter, compared to 4,045 tonnes per day in the fourth quarter of 2014. Ore milled contained an average silver grade of 267 g/t, 20% higher than the 222 g/t reported in the fourth quarter. The increase in milled grade was due to higher grade fresh ore available directly from the open pit. The average recovery rate for silver was 83.9%, comparable to the average recovery rate in the previous quarter.
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