TORONTO, Sept. 10, 2020 /PRNewswire/ -- Americas Gold and
Silver Corporation (TSX: USA)
(NYSE American: USAS) ("Americas" or the "Company"), a growing
North American precious metals producer, today provides an
update on the ramp-up of the Relief Canyon mine toward commercial
production.
Highlights
- Since placing first ore on the 6W leach pad on August 4, 2020, leach solution grade coming from
the pad has increased significantly and is operating within
expected norms.
- Continued improvements to operating practices will improve
consistency of heap performance and reduce operating costs.
- Commercial production remains targeted for Q4-2020.
"The Company is thrilled to report that the new section of the
leach pad is operating according to plan" stated Americas President
and CEO Darren Blasutti.
"Leach solution grade has bumped up nicely which bodes well for
continued increases in gold production and a strong finish to the
year. We remain committed to declaring commercial production
before the new year."
On August 4, 2020, the Company
began stacking higher-grade ore from lower levels of the pit and
applied revised and improved operating practices. Based on a
month of operating data, the Company is pleased to report that the
leach solution grade from the pad has significantly increased and
modelled leach recovery is trending towards feasibility levels.
As highlighted previously, the operation is currently employing
a temporary stacker with a capacity of approximately 8,000 tonnes
per day. With the reduced stacking rate, the Company is
taking the opportunity to prioritize waste stripping as the
operation currently has a large run of mine ore stockpile of over
200,000 tons. With the increased waste stripping, the Company
will have added operational flexibility to optimize production
moving forward. The return of the radial stacker, with a
capacity of 16,000 tonnes per day, is scheduled for
mid-Q4-2020.
About Americas Gold and Silver Corporation
Americas Gold and Silver Corporation is a high-growth, precious
metals mining company with multiple assets in North America. The Company's newest
asset, the Relief Canyon mine in Nevada,
USA, has poured first gold and is expected to ramp up to
full production over the course of 2020. The Company also
owns and operates the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned
Galena Complex in Idaho, USA.
The Company has completed the outstanding option acquisition
agreement for the San Felipe
development project in Sonora,
Mexico, subject to closing conditions. For further
information, please see SEDAR or www.americas-gold.com.
For more information:
Stefan
Axell
|
Darren
Blasutti
|
VP, Corporate
Development &
Communications
|
President and
CEO
|
Americas Gold and
Silver
Corporation
|
Americas Gold and
Silver Corporation
|
416-874-1708
|
416–848–9503
|
Qualified Persons
Daren Dell, Chief Operating
Officer, who is an employee of the Company and a "qualified person"
under National Instrument 43-101, has approved the applicable
contents of this news release.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information" within
the meaning of applicable securities laws. Forward-looking
information includes, but is not limited to, Americas Gold and
Silver's expectations, intentions, plans, assumptions and beliefs
with respect to, among other things, estimated production rates and
results for gold, silver and other precious metals, as well as the
related costs, expenses and capital expenditures, the Company's
construction, production, development plans and performance
expectations at the Relief Canyon Mine, its ability to finance,
develop and operate Relief Canyon, including the anticipated timing
of commercial production at Relief Canyon. Often, but not
always, forward-looking information can be identified by
forward-looking words such as "anticipate", "believe", "expect",
"goal", "plan", "intend", "potential', "estimate", "may", "assume"
and "will" or similar words suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions,
or statements about future events or performance.
Forward-looking information is based on the opinions and estimates
of Americas Gold and Silver as of the date such information is
provided and is subject to known and unknown risks, uncertainties,
and other factors that may cause the actual results, level of
activity, performance, or achievements of Americas Gold and Silver
to be materially different from those expressed or implied by such
forward-looking information. With respect to the business of
Americas Gold and Silver, these risks and uncertainties include
risks relating to widespread epidemics or pandemic outbreak
including the COVID-19 pandemic; the impact of COVID-19 on our
workforce, suppliers and other essential resources and what effect
those impacts, if they occur, would have on our business, including
our ability to access goods and supplies, the ability to transport
our products and impacts on employee productivity, the risks in
connection with the operations, cash flow and results of the
Company relating to the unknown duration and impact of the COVID-19
pandemic; interpretations or reinterpretations of geologic
information; unfavorable exploration results; inability to obtain
permits required for future exploration, development or production;
general economic conditions and conditions affecting the industries
in which the Company operates; the uncertainty of regulatory
requirements and approvals; fluctuating mineral and commodity
prices; the ability to obtain necessary future financing on
acceptable terms or at all; the ability to develop, complete
construction, bring to production and operate the Relief Canyon
Project; and risks associated with the mining industry such as
economic factors (including future commodity prices, currency
fluctuations and energy prices), ground conditions and other
factors limiting mine access, failure of plant, equipment,
processes and transportation services to operate as anticipated,
environmental risks, government regulation, actual results of
current exploration and production activities, possible variations
in ore grade or recovery rates, permitting timelines, capital and
construction expenditures, reclamation activities, labor relations
or disruptions, social and political developments and other risks
of the mining industry. The potential effects of the COVID-19
pandemic on our business and operations are unknown at this time,
including the Company's ability to manage challenges and
restrictions arising from COVID-19 in the communities in which the
Company operates and our ability to continue to safely operate and
to safely return our business to normal operations. The
impact of COVID-19 on the Company is dependent on a number of
factors outside of its control and knowledge, including the
effectiveness of the measures taken by public health and
governmental authorities to combat the spread of the disease,
global economic uncertainties and outlook due to the disease, and
the evolving restrictions relating to mining activities and to
travel in certain jurisdictions in which it operate. Although
the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated, or intended.
Readers are cautioned not to place undue reliance on such
information. Additional information regarding the factors
that may cause actual results to differ materially from this
forward–looking information is available in Americas Gold and
Silver's filings with the Canadian Securities Administrators on
SEDAR and with the SEC. Americas Gold and Silver does not
undertake any obligation to update publicly or otherwise revise any
forward-looking information whether as a result of new information,
future events or other such factors which affect this information,
except as required by law. Americas Gold and Silver does not
give any assurance (1) that Americas Gold and Silver will achieve
its expectations, or (2) concerning the result or timing
thereof. All subsequent written and oral forward–looking
information concerning Americas Gold and Silver are expressly
qualified in their entirety by the cautionary statements above.
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SOURCE Americas Gold and Silver Corporation