Golden Minerals Begins Gold Production in MexicoBy Paloma Duran | Thu, 01/14/2021 - 18:17
Golden Minerals has announced its transition from an exploration company to a gold producer. Its first gold-silver doré bars will be ready in two weeks. Read this and more in the weekly mining roundup!
The company announced it has begun gold production at its Rodeo gold project located in Durango. The mill began processing gold containing material and anticipates the first gold-silver doré bars in the next two weeks. President and CEO of Golden Minerals, Warren Rehn announced Golden Minerals’ transition from an exploration company to gold-silver producer and that despite the pandemic, the company was able to develop this project and start its production ahead of schedule and on budget.
Orla Mining has announced the results of a feasibility study for its Camino Rojo oxide gold project located in Zacatecas. The study showed an increase of 54 percent in its gold reserves and a 3.5-year extension to the mine’s life. Moreover, the company announced its next steps that include working on a change to the land use permit, the drilling of 2,500m, detailing QA/QC and adding Orla’s geological and resource models to Fresnillo’s data.
The company announced it is expecting an annual production between 430,000oz and 470,000oz in 2021. Jody Kuzenko, President and CEO of Torex, said the company expects another year with strong cash flow and that by implementing its new business plan, the company will repay its debt, strengthen its balance sheet and advance in its Media Luna project. Kuzenko said the company will focus this year on exploration projects, especially at its ELG underground where they are investing more to extend the life of the project and increase its mineral reserves.
The company announced it has engaged Behre Dolbear, the engineering consultancy firm, to provide a Preliminary Economic Assessment (PEA) regarding the purchase, refurbish and operation of the El Cubo mine and mill complex, which is expected to be completed in February. According to a press release, this study will be included in VanGold's submission to the TSX Venture Exchange that is needed for the acceptance of the company's acquisition of El Cubo.
Canasil has announced the results of its recent drill program and prior geochemical soil sampling at its Nora silver-gold project in Durango. The company said the high-grade gold and silver values obtained from the program are extremely encouraging and have exceeded all their expectations. According to a press release, the results show a “strong mineralizing environment with multiple exploration targets and the potential for hosting a significant high-grade and disseminated silver-gold-copper-zinc-lead mineralized system.”