MMC News

Leagold Reports Los Filos Q3 Gold Production of 47,766 Oz

October 11, 2017 Go to Location

  • Los Filos Mine produced 137,749 oz of gold during the nine months ended September 30, 2017, which includes 91,746 oz following Leagold’s acquisition of the mine on April 7, 2017
  • Los Filos Mine remains on track to produce between 185,000 and 200,000 oz for the full year of 2017, as previously guided
  • Installation of the agglomerator to improve gold recoveries and extension of the conveyor to improve ore delivery to the heap leach continued, with anticipated completion in Q4 2017 and commencement in Q1 2018
  • The Bermejal underground expansion project is proceeding, with the commencement of the exploration portal and ramp in September (see September 25, 2017 news release) and over 65% completion of the 56,000 metre infill and step-out drilling program (see July 13, 2017 and August 30, 2017 news releases)

 

Vancouver, October 11, 2017 – Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) (“Leagold” or the “Company”) announces Q3 2017 gold production at the Los Filos Mine of 47,766 oz, which represents a steady increase over Q1 2017 and Q2 2017. AISC per ounce and additional operating details will be reported in the Q3 2017 financial results to be released in mid-November.

 

Table 1: Los Filos Gold Production and Sales to September 30, 2017 (ounces)

 

Gold Production

Gold Sales

Q1 2017

 

43,885

 

42,471

April 1 – April 7, 2017

2,118

 

0

 

Leagold Ownership (April 8 to June 30, 2017)*

43,980

 

54,010

 

Q2 2017

 

46,098

 

54,010

Q3 2017

 

47,766

 

47,263

Nine month total

 

137,749

 

143,744

* Leagold acquired the Los Filos Mine on April 7, 2017

Qualified Persons

Doug Reddy, P.Geo, Leagold’s Senior Vice President – Technical Services, is a Qualified Person under NI 43-101, and has reviewed and approved the technical contents of this news release on behalf of Leagold.

About Leagold Mining Corporation

Leagold is building a new mid-tier gold producer with a focus on opportunities in Latin America. Leagold is based in Vancouver, Canada and is listed on the TSX under the trading symbol “LMC” and trades on the OTCQX market as “LMCNF”. The recent acquisition of the Los Filos Mine, a low-cost gold producer in Mexico, provides an excellent platform for growth.

For more information on Leagold please visit the Company website at www.leagold.com or contact:

Meghan Brown, VP – Investor Relations

+1-604-398-4525

mbrown@leagold.com

This news release contains "forward-looking statements" and “forward looking information” (as defined under applicable securities laws), including but not limited to plans for future development of the Los Filos Mine. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" and "anticipates". Forward-looking statements and information, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the Los Filos Mine, risks related to the successful integration of the acquisition; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Leagold operates. Although Leagold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and Leagold disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to Leagold's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting Leagold and its business.

Original Article: http://www.leagold.com/news/2017/leagold-reports-los-filos-q3-gold-production-of-47766-oz

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