The proceeds of the private placement will be used by Defiance to commence a drill program at the San Acacio Silver Deposit located in Zacatecas, Mexico as well as for working capital purposes.
Alio Gold Inc. is pleased to announce a partnership with VRify, a communications platform offering investors 360 virtual tours of projects and assets right in the palm of their hands. The 360 virtual tour of the Companys San Francisco Mine located in Sonora, Mexico is now available.
Neil Woodyer, CEO stated We have been steadily advancing the development of the Bermejal Underground as an expansion project at our Los Filos mine, and the start of the portal and ramp is a significant achievement within our initial six months of ownership. The contribution from underground mining at Bermejal will add approximately 150,000 ounces per year to the operation and bring the combined production rate to 350,000 ounces per year once fully operational.
At Peñasquito (100% owned, Mexico), the Pyrite Leach Project is 40% complete and expected to commence commissioning in the fourth quarter of 2018, three months ahead of schedule. PLP is expected to recover approximately 40% of the gold and 48% of the silver currently reporting to the tailings, and is expected to add production of approximately 1 million ounces of gold and 44 million ounces of silver over the current life of the mine.
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