Month: October 2016

“Higher silver grades, throughput rates and recoveries propelled silver production to a new Company record of over 3.1 million ounces during the quarter,” said Keith Neumeyer, President & CEO. “We saw significant grade improvements, particularly at Santa Elena, La Guitarra and San Martin, as a result of improved mine sequencing and dilution control. Due to the improved operational cash flows, we’ve significantly expanded our exploration programs resulting in 19 drill rigs currently active on our properties which will allow us to release updated Reserve and Resource estimates for Del Toro, La Parrilla and San Martin in the first quarter of 2017. At La Encantada, detailed engineering has been completed and furnace manufacturing has started for the construction of our new roasting circuit planned for final completion in the fourth quarter of 2017.””

Jorge A. Ganoza, President and CEO commented, “This is the first quarter of full production at the new rate of 3,000 tonnes per day at our San Jose Mine, where operations are performing according to plan.” Mr. Ganoza continued, “Senior management’s focus now is on advancing our newly acquired Lindero gold project, located in the Salta Province in Argentina, towards a construction decision in the first half of next year.”

“Consolidated copper production continued to be very strong in the third quarter, setting a second consecutive all-time production record for Capstone,” said Darren Pylot, President and CEO of Capstone. ” Pinto Valley continues to demonstrate its potential, maintaining throughput at a record pace, with the high grade ore from Minto North also contributing to record production for the quarter.”

“We are very pleased with the consistency of our operating performance during the quarter and year to date,” stated Arturo Bonillas, President of the Company. “Gold ounces produced this year have already exceeded our previous targets as we are on pace to meet current guidance of 90,000 – 100,000 ounces for 2016. We continue to see the benefit of the changes implemented late last year including cost reductions (mine-site G&A, mining and cyanide cost reduction), and increased operational efficiencies.”

McEwen Mining Inc. is pleased to announce that total production for the third quarter was 36,496 gold equivalent ounces using a gold to silver ratio of 75:1, or 24,281 gold ounces and 916,168 silver ounces. Production is on target to achieve our 2016 guidance of 144,000 gold equivalent ounces, or 99,500 gold ounces and 3,337,000 silver ounces.

J.D. Poliquin, chairman of Almaden stated, “Today’s results once again show the presence of the high grade veins on the Tuligtic project. While we are now focussed on developing the Ixtaca deposit into a significant precious metals producer in Mexico, and are currently busy with engineering work and studies towards producing a PFS, we are also conducting exploration drilling to test for additional resource potential.”

Colibri will initiate a program of detail mapping and sampling in the area of the high grade chip samples and explore for extensions of this area. We will also investigate the areas of high gold in soils to see if we can strip, map and sample these areas. The above work will be followed up by a second phase program of drilling.

President Mike England states, “The Company is pleased to now have boots on the ground on our Mexican concession and to commence exploration on the property. Our team is well experienced in the area and we look forward to announcing further news as they progress with the exploration program.”