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Guanajuato Silver Provides Update on Mill Commissioning – Company to Present at Emerging Growth Conference

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Guanajuato Silver Provides Update on Mill Commissioning – Company to Present at Emerging Growth Conference

 

 

 

 

 

Guanajuato Silver Company Ltd. (TSX-V:GSVR) (OTCQX:GSVRF) is pleased to announce that it has been invited to present at the Emerging Growth Conference at 12:00pm ET on June 23, 2021. GSilver invites individual and institutional investors as well as advisors and analysts to attend its real-time, interactive presentation at the Emerging Growth Conference.

 

Person’s wishing to attend the online presentation are invited to register by Clicking Here . Attendees not able to join the event live on the day of the conference, will have the opportunity to view an archived webcast, made available subsequently on www.EmergingGrowth.com.

 

Update on Mill Commissioning:

 

In anticipation of the upcoming conference, GSilver is providing an update on its progress to re-establish operations at its recently acquired El Cubo mine and mill located approximately 11 kilometers east of Guanajuato city, in central Mexico. The Company continues to target commercial production beginning in Q4 2021.

 

Staffing:

 

Approximately 90% of planned staffing at the manager and superintendent level has been obtained, including mill and mine management positions, procurement and accounting staff, and heads of geology at both the El Cubo mine and the El Pinguico project. To date, approximately 85 positions have been filled at the combined operation.

Hernan Dorado, COO, stated: “We are very pleased with the pace with which we are filling the vital operating positions at this early stage of our ramp-up process. Our ability to readily hire quality people, often graduates of the University of Guanajuato, speaks to the depth of mining experience within the greater Guanajuato community.”

 

Mill Refurbishment:

 

Plant maintenance crews have begun their work on schedule. Crews have dismantled and cleaned the ball mills and have completed a preliminary mechanical inspection. Mill number 3 is in excellent condition, with mills numbers 1 and 2 needing some additional maintenance work – anticipated in the Company’s due diligence process during the acquisition. Critical parts for all mills have arrived and are now in stock for installation or replacement. Global Physical Asset Management Inc. of Mesa, Arizona has been engaged to inspect the ball mills and make recommendations for additional refurbishment.

 

Two crushers have been ordered by the Company in anticipation of restarting the plant. A used secondary crusher – a Symons 4.25ft Standard in excellent condition – was sourced within Mexico and has now arrived on site. A new tertiary crusher – also a Symons 4.25ft Standard – has been sourced in the USA, ordered, and is scheduled to arrive in Guanajuato within two weeks’ time.

 

Additional general planning, maintenance, and refurbishment continues.

 

Mine Refurbishment:

 

Crews began general mine clean-up ahead of schedule while detailed mine planning is complete for the first six months of operations, with the Company now phasing into longer term mine planning.

 

At El Cubo, GSilver crews and scoop trams are rehabilitating haulage tunnels from the main Dolores access portal to the 11-1875 and 7-2175 stopes, the two main areas that will be targeted first by GSilver when mining recommences.

 

As discussed in the Company’s PEA (see news release dated February 16, 2021), GSilver plans to use contract miners in the early stages of its operations at El Cubo. During the week of June 14, representatives of eight different mine contractor groups visited El Cubo. GSilver anticipates receiving bids from all of these groups before the end of June, allowing ample time for the Company to make a measured decision as to which mine contractor to engage for the re-start of operations.

 

Additional Re-Start work:

 

GSilver personnel continue to study whether combining material from the two deposits, or treating material from the deposits separately, would generate higher metallurgical recoveries. Metallurgical testing of material from El Cubo and El Pinguico is ongoing.

 

GSilver has engaged Wood Engineers PLC of Aberdeen Scotland (Denver, Colorado office) as our ongoing tailing facility supervisor.

 

Hernan Dorado Smith, a director of GSilver and a “qualified person” as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.

 

About Guanajuato Silver Company Ltd.:

 

GSilver is an exploration and development company engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company’s El Cubo and El Pinguico projects are significant past producers of both silver and gold located in close proximity to Guanajuato city, and to each other. The Company is currently focused on refurbishing the El Cubo mill and recommencing production from the combined El Cubo / El Pinguico operation, as well as delineating additional silver and gold resources through underground and surface drilling on its projects located in this 480-year-old mining camp.

 

About the Emerging Growth Conference

 

The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their offices.

 

The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, and the overall potential for long term growth. Its audience includes potentially tens of thousands of individual and institutional investors, as well as investment advisors and analysts. All sessions will be conducted through video webcasts.

 

Posted June 21, 2021

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