“The first three holes can only be described as a success. We now know that the breccia continues to depth and appears to be of similar quality to what we had in REG-22-01. Our geologic understanding has increased significantly and our ability to target effectively in further step outs will only improve going forward” – Michael Tucker – Director and Lead Geologist.
James Anderson, Chairman and CEO said, “SI22-006 is the best drill hole the Company has drilled at any of its mines recently acquired from Great Panther Mining in August of 2022. With almost five meters of true width intersecting 1,219 g/t AgEq, which includes 0.42m true width of 6,981 g/t AgEq, this may represent a game changing result for the mine.”
The focus on this year’s drilling plan will be led by discovery drilling on a number of gold bearing breccia pipes in the cluster that comprise the Santana project. Some of these priority targets like Zata and Benjamin West have never been drilled before but have been shown to be gold bearing from several passes of surface sampling programs completed in recent years.
The private placement consisted of 4,378,168 million common shares of the Company priced at CAD$0.25 per Share for gross proceeds of CAD$1,094,542.
“In 2022, Newmont replaced depletion and grew reserves by nearly 4 percent as we continued to focus on extending mine life, developing districts and discovering new opportunities in the most favorable mining jurisdictions.”
“Newmont safely delivered on our commitments in 2022 and finished the year from a position of strength, meeting our full year production guidance and generating $4.6 billion in adjusted EBITDA and $1.1 billion in free cash flow. As we look ahead to 2023 and beyond, we expect to steadily increase production and improve costs from our balanced, global portfolio of world-class assets and robust project pipeline.”
“The results from channel sampling at Pilar are extremely encouraging, exceeding our expectations and showcasing the potential for consistent high-grade gold with silver values for our bulk sampling” stated Brodie Sutherland, CEO
“The Galena Hoist project is nearing completion and is expected before H2-2023 while the Cosalá Operations are actively mining the higher-grade silver zones, both of which are expected to boost attributable silver production by over 80% in 2023.”
Michael Steinmann, President and Chief Executive Officer commented: “As expected, our 2022 production was back-end loaded with strong output in Q4, led by Shahuindo and La Arena. Our 2022 silver production was at the top of the revised range provided in November, while gold production was in line with our original operating outlook.”
“We closed 2022 with our strongest performance of the year. This included record production and our lowest costs of the year driving stronger free cash flow of $18 million in the fourth quarter. We met our full year production and cost guidance, with the latter coming in below the mid-point of guidance, a solid result given industry-wide cost pressures.”
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