Year: 2023

“During the third quarter of 2023, the Tahuehueto Mining project continued progressing towards its objective of achieving 1,000 tonnes per day installed capacity by year-end and announcement of commercial production early in 2024,” said Mike Struthers, CEO. “Following a challenging operational performance in Q3 2023 at Campo Morado, in large part due to reduced throughput as part of a new optimization program by our colleagues at Ausenco, we now have, for the first time in the history of this operation, an understanding of how to correctly operate the project to achieve consistent performance and profitability.”

“We are highly encouraged by the results of our 2023 exploration drilling program at Media Luna West, which continue to enhance our confidence in the mineralized potential of the ever-expanding Media Luna Cluster. While exploration at Media Luna West is still at an early-stage relative to the nearby Media Luna and EPO deposits, the latest results, when combined with historical results and a new structural model, highlight the potential for Media Luna West to become a future source of feed for the Morelos Complex. Follow-up drilling at Media Luna West is planned for 2024 as we advance this zone to the next exploration stage.”

“Recovering gold and silver is an important step towards full-scale production and the first of many ounces to be produced from Pilar.” stated Brodie Sutherland, CEO. “Pilar has returned high head grade, well above the average of open pit mines in the region. The recoveries are also consistent with local operations, with the advantage at Pilar for even higher recovery through gravity and agitated leach methods. More gold and silver are yet to be extracted from the material in hand while we continue to advance our near-term permitting initiatives towards mine development.”