Americas Gold and Silver Corporation (TSX: USA) (NYSE American:
USAS) (“Americas” or the “Company”), is pleased to provide an
update on the continued successful ramp-up of the Relief Canyon
mine in Nevada as it progresses towards commercial production.
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the full release here:
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Figure 1: 5-day trailing average pregnant
solution grade since August 12, 2020 (Photo: Americas Gold and
Silver)
Highlights
- Pregnant solution grade has increased over 400% since August
2020.
- With ore leaching well, the resulting increase expected from
the return of the repaired radial stacker in the first week of
November is the only remaining requirement to reach commercial
production at the mine.
- Commercial production remains targeted for Q4-2020.
“The pregnant solution grade has consistently increased since
August which has further boosted our confidence of declaring
commercial production in Q4-2020,” stated Americas President and
CEO Darren Blasutti. “With the return of our radial stacker in
early November, the operation will be able to double the daily
stacking rate and significantly increase the amount of ore under
leach and daily gold production. With the increased pregnant
solution grade and stacking rate, we expect the Relief Canyon mine
to start generating meaningful sustainable free cash flow.”
In early August 2020, the Company began stacking higher-grade
ore sourced from more continuous mineralization of the Main Zone
and applied revised and improved operating practices as greater
knowledge was gained about the orebody. As demonstrated in Figure
1, the Company is pleased to report that the pregnant solution
grade from the pad has significantly increased and modelled leach
recovery is trending towards feasibility levels.
Figure 1 shows the 5-day trailing average pregnant solution
grade feeding the ADR plant. Gold production will continue to
increase as more ore is stacked and the area under irrigation
expands.
The Company expects the large radial stacker to be back at site
in early November, which will increase daily production from
approximately 8,000 tons per day to the targeted 16,000 tons per
day. Following the failure of the large radial stacker, it has been
determined that the failure was due to a steel quality issue and
not operator error or manufacturer defect. The increased stacking
rate will allow the operation to accelerate the amount of material
placed on the leach pad, increase the area under leach and increase
daily gold production.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth, precious
metals mining company with multiple assets in North America. The
Company’s newest asset, the Relief Canyon mine in Nevada, USA, has
poured first gold and is expected to ramp up to full production
over the course of 2020. The Company also owns the Cosalá
Operations in Sinaloa, Mexico and manages the 60%-owned Galena
Complex in Idaho, USA. The Company has completed the outstanding
option acquisition agreement for the San Felipe development project
in Sonora, Mexico. For further information, please see SEDAR or
www.americas-gold.com.
Qualified Persons
Daren Dell, Chief Operating Officer, who is an employee of the
Company and a “qualified person” under National Instrument 43-101,
has approved the applicable contents of this news release.
Cautionary Statement on Forward-Looking Information:
This news release contains “forward-looking information” within
the meaning of applicable securities laws. Forward-looking
information includes, but is not limited to, Americas Gold and
Silver’s expectations, intentions, plans, assumptions and beliefs
with respect to, among other things, estimated production rates and
results for gold, silver and other precious metals, as well as the
related costs, expenses and capital expenditures, the Company’s
construction, production, development plans and performance
expectations at the Relief Canyon Mine, its ability to finance,
develop and operate Relief Canyon, including the anticipated timing
of commercial production at Relief Canyon, the anticipated increase
in production levels realized by the return of the radial stacker,
the Company’s liability for repairs relating to the previous
stacker failure, pregnant solution grade and leach recovery levels
and trends and the expected generation of meaningful sustainable
free cash flow at Relief Canyon and the expected timing thereof.
Often, but not always, forward-looking information can be
identified by forward-looking words such as “anticipate”,
“believe”, “expect”, “goal”, “plan”, “intend”, “potential’,
“estimate”, “may”, “assume” and “will” or similar words suggesting
future outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions, or statements about future events or
performance. Forward-looking information is based on the opinions
and estimates of Americas Gold and Silver as of the date such
information is provided and is subject to known and unknown risks,
uncertainties, and other factors that may cause the actual results,
level of activity, performance, or achievements of Americas Gold
and Silver to be materially different from those expressed or
implied by such forward-looking information. With respect to the
business of Americas Gold and Silver, these risks and uncertainties
include risks relating to widespread epidemics or pandemic outbreak
including the COVID-19 pandemic; the impact of COVID-19 on our
workforce, suppliers and other essential resources and what effect
those impacts, if they occur, would have on our business, including
our ability to access goods and supplies, the ability to transport
our products and impacts on employee productivity, the risks in
connection with the operations, cash flow and results of the
Company relating to the unknown duration and impact of the COVID-19
pandemic; interpretations or reinterpretations of geologic
information; unfavorable exploration results; inability to obtain
permits required for future exploration, development or production;
general economic conditions and conditions affecting the industries
in which the Company operates; the uncertainty of regulatory
requirements and approvals; fluctuating mineral and commodity
prices; the ability to obtain necessary future financing on
acceptable terms or at all; the ability to develop, complete
construction, bring to production and operate the Relief Canyon
Project; and risks associated with the mining industry such as
economic factors (including future commodity prices, currency
fluctuations and energy prices), ground conditions and other
factors limiting mine access, failure of plant, equipment,
processes and transportation services to operate as anticipated,
environmental risks, government regulation, actual results of
current exploration and production activities, possible variations
in ore grade or recovery rates, permitting timelines, capital and
construction expenditures, reclamation activities, labor relations
or disruptions, social and political developments and other risks
of the mining industry. The potential effects of the COVID-19
pandemic on our business and operations are unknown at this time,
including the Company’s ability to manage challenges and
restrictions arising from COVID-19 in the communities in which the
Company operates and our ability to continue to safely operate and
to safely return our business to normal operations. The impact of
COVID-19 on the Company is dependent on a number of factors outside
of its control and knowledge, including the effectiveness of the
measures taken by public health and governmental authorities to
combat the spread of the disease, global economic uncertainties and
outlook due to the disease, and the evolving restrictions relating
to mining activities and to travel in certain jurisdictions in
which it operate. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated, or intended. Readers are cautioned not to
place undue reliance on such information. Additional information
regarding the factors that may cause actual results to differ
materially from this forward‐looking information is available in
Americas Gold and Silver’s filings with the Canadian Securities
Administrators on SEDAR and with the SEC. Americas Gold and Silver
does not undertake any obligation to update publicly or otherwise
revise any forward-looking information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law. Americas Gold and Silver
does not give any assurance (1) that Americas Gold and Silver will
achieve its expectations, or (2) concerning the result or timing
thereof. All subsequent written and oral forward‐looking
information concerning Americas Gold and Silver are expressly
qualified in their entirety by the cautionary statements above.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20201014005343/en/
Stefan Axell VP, Corporate Development & Communications
Americas Gold and Silver Corporation 416-874-1708 Darren Blasutti
President and CEO Americas Gold and Silver Corporation
416‐848‐9503
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