"San Felipe will be at feasibility stage by late 2013; three rigs are drilling as we speak. The initial drilling exceeds all expectations, exhibiting higher grades than historic drill results and superb core recoveries of around 95%. . .we expect San Felipe to start production in 2014, and it being much larger in scale than Rosario because Santacruz plans a 700 tpd mill throughput for its second mine. The third mine on Santacruz's agenda is Gavilanes, which is even higher grade than the average 200–250 g/t silver at Rosario and San Felipe. . .Santacruz has already successfully identified six other veins on Gavilanes with the Descubridora vein being the most promising one right now. . .Santacruz is set to achieve all-in production costs of an estimated $11/oz by 2014 with its Rosario mine, and its two other silver deposits are ready to follow an even larger path into highly profitable and low-risk silver mining."