Alio Gold Provides 2020 Guidance
Mark Backens, President and CEO of Alio Gold said, “As we look ahead to 2020, I am very pleased to finally see Florida Canyon begin to operate as we know it can.”
Mark Backens, President and CEO of Alio Gold said, “As we look ahead to 2020, I am very pleased to finally see Florida Canyon begin to operate as we know it can.”
A maiden drilling program targeting the Phu Lon Nickel Prospect within the wider Sayabouly Project in Laos and comprising 2,000 diamond drilled metres is anticipated to commence mid-January.
With samples in hand in combination with the geological & structural mapping, Colibri now feels confident moving forward with its planned drilling program of up to 1000 meters at Evelyn. Permits are being applied for and drilling companies are being contacted for quotations. The Company will provide guidance to the market as permits are received and when a drilling contract has been awarded.
The Company intends to use the net proceeds of the Offering for the continued exploration and development of the Company’s Las Chispas Project and for general working capital and administrative purposes.
Sharyn Alexander, V.P. Technical Services, stated: “The massive amount of historical data has taken quite a while to review and evaluate. With this process nearing completion, some very exciting drill targets are evolving. We look forward to commencing our exploration program early in the new year, as the Buck property allows for year round exploration and has excellent infrastructure.”
Brad Marwood, Managing Director CZL said “Utilising a mining contractor to start the Plomosas mine was the right decision and after 12 months of growth I am confident that the Company can deliver superior outcomes from the Plomosas mine. We will enter 2020 with a renewed focus and increased determination to achieve strong returns to shareholders.”
“These recent drill results continue a theme we saw in the last results, released in early November, of better grade times thickness on average than the current reserve,” said Brad Mercer, Capstone’s Senior Vice President of Operations and Exploration.
“2019 has been a pivotal year due to the efficiency and operational excellence programs that we have implemented. Production at the mill has been lowered from 800 TPD to 625 TPD to allow preparation of new production areas and to mine better grades of ore,” Mr. Salvador Garcia, P. Eng., commented.
The Company is initially targeting a five to ten million tonne, shallow high grade Cu-Au resource localized along the strike length of the exposed skarn zone. Further work will examine the deeper potential of the mineralizing system including a potential Porphyry Cu-Au source for the shallow high-grade mineralization.
Carlos Silva, COO of Santacruz, stated, “The 50% acquisition of Carrizal Mining in early Q3 of 2019 made an immediate impact to our production profile and bottom line by producing 606,589 silver equivalent ounces and generating mine operating earnings of $1 million.”
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