Brad Marwood, Managing Director CZL said “Utilising a mining contractor to start the Plomosas mine was the right decision and after 12 months of growth I am confident that the Company can deliver superior outcomes from the Plomosas mine. We will enter 2020 with a renewed focus and increased determination to achieve strong returns to shareholders.”
“These recent drill results continue a theme we saw in the last results, released in early November, of better grade times thickness on average than the current reserve,” said Brad Mercer, Capstone’s Senior Vice President of Operations and Exploration.
“2019 has been a pivotal year due to the efficiency and operational excellence programs that we have implemented. Production at the mill has been lowered from 800 TPD to 625 TPD to allow preparation of new production areas and to mine better grades of ore,” Mr. Salvador Garcia, P. Eng., commented.
The Company is initially targeting a five to ten million tonne, shallow high grade Cu-Au resource localized along the strike length of the exposed skarn zone. Further work will examine the deeper potential of the mineralizing system including a potential Porphyry Cu-Au source for the shallow high-grade mineralization.
Carlos Silva, COO of Santacruz, stated, “The 50% acquisition of Carrizal Mining in early Q3 of 2019 made an immediate impact to our production profile and bottom line by producing 606,589 silver equivalent ounces and generating mine operating earnings of $1 million.”
CEO John Lawrence said “Leach testing could be ready at Puerto Blanco by the end of December 2019, and it will also involve the processing of flotation concentrates at Madero. Typical shake down changes, transportation logistics, and a review of costs per ton of ore processed are anticipated. “
Pete Dougherty, President and CEO stated: “The drill program to date has focused on testing the same gold-bearing geological structures that strike westward into the Magino deposit from those of the adjacent Island Gold Mine, Lochalsh gold deposit. Through the incorporation of structural and geochemical data, the program continues to target and intercept deeper high-grade gold-bearing structures below the currently designed open pit.”
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