Thursday, January
20, 2011
20,030 ounces of
Gold Sold During Third Quarter of Production
Vancouver,
British Columbia -
Timmins Gold is pleased to announce preliminary production statistics for its
third quarter of commercial production ended December 31, 2010 from its
wholly owned San Francisco open pit gold mine located in northern Sonora,
Mexico.
A total of 20,030 ounces of gold was sold during the quarter ended
December 31 which is a 28 % increase over the previous quarter.
SAN FRANCISCO MINE
PRELIMINARY PRODUCTION
STATISTICS
Quarter ended December 31, 2010
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Total Material Moved
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Dry Ktonnes
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5,777
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Ore Mined and Crushed
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Dry Ktonnes
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1,208
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During the 3 month period average daily production from the mine averaged
over 13,282 dry metric tonnes, an increase of 11
% over the previous quarter.
The strip ratio for the quarter averaged 3.7 to 1. The current life of mine
strip ratio is projected at 1.73 to 1.
Average head grade for the quarter was 0.939 g/t which is
in line with expectations.
Metallurgical recoveries are on target to achieve a rate of over 70%.
There were no accidents which resulted in lost time during the quarter.
About Timmins Gold
Focused solely in Mexico, Timmins Gold Corp is in commercial gold
production at its wholly owned San Francisco gold mine in Sonora, Mexico.
The mine is a past-producing open pit heap leach operation. Timmins Gold
has forecast production at a rate in excess of 100,000 ounces of gold per
year at a life of mine cash cost of approximately U.S. $489 per ounce. (Micon International NI 43-101 F1 Technical Report dated
November, 2010)
Bruce Bragagnolo, LLB
Chief Executive Officer
Vancouver, BC, Canada
Tel: 604-638-8980
bruce@timminsgold.com
Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
This News Release
contains forward-looking statements. Forward-looking statements are
statements which relate to future events. In some cases, you can identify
forward-looking statements by terminology such as "may",
"should", "expects", "plans, "anticipates",
believes", "estimates", "predicts",
"potential", or "continue" or the negative of these
terms or other comparable terminology. These statements are only
predictions and involve known and unknown risks, uncertainties and other
factors that may cause our or our industry's actual results, level of
activity, performance or achievements to be materially different from any
future results, levels of activity, performance, or achievements expressed
or implied by these forward-looking statements.
While these forward-looking
statements, and any assumptions upon which they are based, are made in good
faith and reflect our current judgment regarding the direction of our
business, actual results will almost always vary, sometimes materially,
from any estimates, predictions, projections, assumptions or other future
performance suggestions herein. Except as required by applicable law,
Timmins Gold does not intend to update any forward-looking statements to
conform these statements to actual results.
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