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Timmins Gold Corp.
Summary
| Project: | Ana Paulo | |
|---|---|---|
| Deposit: | Ana Paulo | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 2/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-2-2017: Timmins Gold Corp. announces an Exploration/Drilling Update report for its Ana Paulo deposit at the Ana Paulo project. Drilling results incl. 151.07m @ 8.98g/t Au, 6.52g/t Ag from 105.00m. February 23, 2017 Vancouver, BC - Timmins Gold Corp. (T | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Taj Singh (Internal) | |
| ABSTRACT: | February 23, 2017 Vancouver, BC - Timmins Gold Corp. (TSX: TMM, NYSE MKT: TGD) (“Timmins” or the “Company”) is pleased to provide an update on its 100% owned Ana Paula project (the “Project”) located in the Guerrero Gold Belt, in the State of Guerrero, Mexico. Ana Paula is a high-grade, open pit gold development project that was the subject of a positive Preliminary Economic Assessment (“PEA”) in February 2016. In August 2016, the Company initiated a US$9.2 million program of pre-construction activities including feasibility work, infill drilling, metallurgical testing, environmental baseline studies and permitting. The program was designed to allow construction to start on the Project in 2018. Over the past six months significant progress has been made on advancing the Project. Timmins Gold CEO, Greg McCunn, states “After joining the Company earlier this month, I am very encouraged by the progress that has been made at Ana Paula. The results from the infill drilling are validating the previous drilling campaigns and increasing the confidence and robustness of the resource model and our understanding of the lithological domains in the deposit. Metallurgical test work has significantly improved upon the work done in the PEA and validated the suitability of the 6,000 tpd plant that we purchased last year and currently have in storage awaiting the start of construction. It is our intention to provide an interim update on the robust Project economics in the form of a Pre-Feasibility Study (PFS) in Q2 2017, with the full Definitive Feasibility Study (DFS) to be completed by Q1 2018.” | |
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