The Latin America-focused precious metals miner saw record gold production of 6,079 ounces (oz) in the quarter, up from 5,322 oz in the preceding quarter and 4,200 oz in the corresponding quarter of 2014.
Silver production was up 4% at 586,918 oz from 565,965 oz a year earlier, but was down from 648,810 oz in the second quarter of this year.
In "silver equivalent ounces" (Ag eq oz, in geologist's speak), production was up 21% year-on-year at 1.08mln oz.
Metal production to date in 2015 totals more than 3.1 million Ag eq oz and production for the year is expected to exceed the annual guidance that was increased last quarter to 3.8 to 3.9 million Ag eq oz, the company said.
The company has enjoyed higher grades, which point to continued strong performance on cash costs and all-in sustaining costs, though investors will have to wait until third quarter results are released on 4 November to find out the extent of the effect of the better grades.
"Great Panther's third quarter continued this year's trend of delivering strong operational performance at the Guanajuato Mine Complex [GMC] and the Topia Mine", stated Robert Archer, president and chief executive of Great Panther.
"The ongoing ramp up in production at San Ignacio, since commencing commercial production in June of last year, was a major factor in the increase in production over the third quarter of 2014 and also contributed to the higher grades at the GMC. In addition, our team's pursuit of efficiencies and better grade control is another important factor in the overall stronger operations that are keeping us on track to exceed our guidance for 2015 in terms of both production and lower cash and all-in sustaining costs," he added.
As seen in the third quarter, production from San Ignacio will continue to account for the predominant portion of the production from the GMC in the fourth quarter and for the foreseeable future, the company said.
Meanwhile, the company will kick off its 2,200 metre surface drilling program at San Ignacio this month, with a view to extending the southerly strike extension of the ore zones, and upgrading the existing resources with in-fill drilling.
Shares in Great Panther are up more than one-fifth this week.