- Los Filos Mine produced 137,749 oz of gold during the nine
months ended September 30, 2017,
which includes 91,746 oz following Leagold's acquisition of the
mine on April 7, 2017
- Los Filos Mine remains on track to produce between 185,000 and
200,000 oz for the full year of 2017, as previously guided
- Installation of the agglomerator to improve gold recoveries and
extension of the conveyor to improve ore delivery to the heap leach
continued, with anticipated completion in Q4 2017 and commencement
in Q1 2018
- The Bermejal underground expansion project is proceeding, with
the commencement of the exploration portal and ramp in September
(see September 25, 2017 news release)
and over 65% completion of the 56,000 metre infill and step-out
drilling program (see July 13, 2017
and August 30, 2017 news
releases)
VANCOUVER, Oct. 11, 2017 /CNW/ - Leagold Mining Corporation
(TSX:LMC; OTCQX:LMCNF) ("Leagold" or the "Company") announces Q3
2017 gold production at the Los Filos Mine of 47,766 oz, which
represents a steady increase over Q1 2017 and Q2 2017. AISC
per ounce and additional operating details will be reported in the
Q3 2017 financial results to be released in mid-November.
Table 1: Los Filos Gold Production and Sales to September 30, 2017 (ounces)
|
|
|
|
Gold
Production
|
Gold Sales
|
Q1
2017
|
|
43,885
|
|
42,471
|
April 1 – April 7,
2017
|
2,118
|
|
0
|
|
Leagold Ownership
(April 8 to June 30, 2017)*
|
43,980
|
|
54,010
|
|
Q2
2017
|
|
46,098
|
|
54,010
|
Q3
2017
|
|
47,766
|
|
47,263
|
Nine month
total
|
|
137,749
|
|
143,744
|
|
* Leagold acquired
the Los Filos Mine on April 7, 2017
|
|
|
|
|
Qualified Persons
Doug
Reddy, P.Geo, Leagold's Senior Vice President – Technical
Services, is a Qualified Person under NI 43-101, and has reviewed
and approved the technical contents of this news release on behalf
of Leagold.
About Leagold Mining Corporation
Leagold is building a new mid-tier gold producer with a focus on
opportunities in Latin America.
Leagold is based in Vancouver,
Canada and is listed on the TSX under the trading symbol
"LMC" and trades on the OTCQX market as "LMCNF". The recent
acquisition of the Los Filos Mine, a low-cost gold producer in
Mexico, provides an excellent
platform for growth.
This news release contains "forward-looking statements" and
"forward looking information" (as defined under applicable
securities laws), including but not limited to plans for future
development of the Los Filos Mine. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as "expects", "expected", "budgeted", "forecasts"
and "anticipates". Forward-looking statements and information,
while based on management's best estimates and assumptions, are
subject to risks and uncertainties that may cause actual results to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the Los Filos Mine, risks related to the successful
integration of the acquisition; risks related to international
operations; risks related to general economic conditions and credit
availability, actual results of current exploration activities,
unanticipated reclamation expenses; changes in project parameters
as plans continue to be refined; fluctuations in prices of metals
including gold; fluctuations in foreign currency exchange rates,
increases in market prices of mining consumables, possible
variations in ore reserves, grade or recovery rates; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes, title disputes, claims and limitations on
insurance coverage and other risks of the mining industry; delays
in the completion of development or construction activities,
changes in national and local government regulation of mining
operations, tax rules and regulations, and political and economic
developments in countries in which Leagold operates. Although
Leagold has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. The forward-looking statements and
forward-looking information are made as of the date hereof and
Leagold disclaims any obligation to update any such factors or to
publicly announce the result of any revisions to any of the
forward-looking statements or forward-looking information contained
herein to reflect future results. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
Please refer to Leagold's most recent filings under its profile at
www.sedar.com for further information respecting the risks
affecting Leagold and its business.
SOURCE Leagold Mining Corporation