Timmins Gold sells 65,784 ounces of
gold during first year of commercial operations at the San Francisco mine
Vancouver, BC - Timmins Gold Corp. is pleased to announce
preliminary production statistics for its first year of commercial
operations for the year ended March 31, 2011 from its wholly owned San
Francisco open pit gold mine located in northern Sonora, Mexico.
The Company achieved a record quarter of daily production, averaging a
total of 13,415 tonnes of ore processed per day
for the three months ended March 31, 2011. A total of 18,755 ounces of gold
was sold during the three months ended March 31, 2011 for a total of 65,774
ounces of gold sold for the year ended March 31, 2011.
The construction of a new crushing module is scheduled for completion in
July, 2011 which will increase crushing capacity to 18,000 tonnes of ore processed per day. The increase in the
crushing capacity will allow the ramp up to a targeted production of
100,000 gold ounces per year.
"Management is extremely pleased with the results from our first year
of operations. The operations team has delivered continued operational
improvements quarter over quarter," stated Bruce Bragagnolo,
CEO of Timmins Gold Corp.
The San Francisco Mine main production statistics for the first year of
commercial production are as follows:
Category
|
Apr-Jun 2010
|
Jul-Sep 2010
|
Oct-Dec 2010
|
Jan-Mar 2011
|
Total/Average
|
Ore
(Dry tonnes)
|
905,296
|
1,090,768
|
1,208,678
|
1,207,339
|
4,412,081
|
Average Grade (g/t Au)
|
0.718
|
0.817
|
0.939
|
0.895
|
0.851
|
Waste Mined
|
4,077,568
|
3,878,015
|
4,568,616
|
5,096,932
|
17,621,131
|
Total Mined (tonnes)
|
4,982,864
|
4,968,783
|
5,777,294
|
6,304,271
|
22,033,212
|
Strip Ratio
|
4.5
|
3.34
|
3.7
|
4.2
|
4.0
|
Gold ounces Recoverable
|
14,145
|
19,374
|
25,033
|
24,088
|
82,640
|
Gold ounces Sold
|
11,319
|
15,680
|
20,030
|
18,755
|
65,784
|
Days
|
91
|
92
|
92
|
90
|
365
|
Average Ore Processed (t/d)
|
9,948
|
11,986
|
13,282
|
13,415
|
12,087
|
Total Mined (t/d)
|
54,756
|
54,009
|
62,797
|
70,047
|
60,365
|
There were no accidents which resulted in lost time during the quarter.
Caution Regarding Forward-Looking Statements
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.
Neither the TSX nor its Regulation Services Provider (as that term is
defined in the policies of the TSX) accepts responsibility for the adequacy
or accuracy of this release.
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 43-101F1 Technical Report dated
November, 2010).
Contacts:
Timmins Gold Corp.
Bruce Bragagnolo
CEO and Director
604-638-8980
bruce@timminsgold.com
www.timminsgold.com
|