|Timmins Gold Corp - TMM.t is a gold producer at its wholly owned San Francisco Gold Mine in the state of Sonora, Mexico. |
On July 13, 2016 the company released News
"Timmins Gold Corp. has released the results of a recently completed National Instrument 43-101 technical report for the San Francisco gold mine in Sonora state, Mexico, prepared by Micon International Ltd. of Toronto, Ont. This news release provides details on the updated mineral reserves and resources, as of July 1, 2016, and the associated mine plan for the San Francisco gold mine.
2016 production between 90,000 and 100,000 gold ounces at cash costs of $750 to $800 per gold ounce and total capital expenditures of $4-million;
2017 production between 65,000 and 70,000 gold ounces at cash costs of $900 to $950 per gold ounce and total capital expenditures of $4-million;
2018 production between 80,000 and 85,000 gold ounces at cash costs of $1,000 to $1,050 per gold ounce and total capital expenditures of $2-million;
Life-of-mine production between 450,000 and 500,000 gold ounces at cash costs of $900 to $950 per gold ounce and total capital expenditures of approximately $18-million ($38 per ounce);
Updated reserves (after mining recovery and dilution) of 574,000 gold ounces grading 0.56 gram per tonne at $1,250 per gold ounce; additionally, stockpiled ore of 61,000 gold ounces grading 0.26 g/t;
Updated measured and indicated resources of one million gold ounces grading 0.58 g/t at $1,350 per gold ounce.