Vancouver, British Columbia – (Newsfile Corp. – November 23, 2021) – Altaley Mining Corporation (TSXV: ATLY) (OTC Pink: ATLYF) (FSE: TSGA) (“Altaley” or the “Company”) operating results for the three months ended September 30, 2021 (Q3 – 2021). The Company’s financial statements and Management’s Discussion and Analysis (“MD&A”) are available on the Company’s website at www.altaleymining.com and www.sedar.com. Unless otherwise indicated, all financial information contained in this press release is unaudited and is expressed in Canadian dollars.
“Our Campo Morado team produced another strong quarter of operating results,” said Ralph Shearing, CEO. “Third quarter AISC and C1 cash costs decreased by $ 0.07 and $ 0.03 respectively per pound of zinc produced compared to the second quarter of 2021, which generated gross revenues of just over $ 23 million and mine operating income of $ 9.55 million for the quarter. “
Q3 – 2021 Financial and Operational Highlights
- Mine operating profit of $ 9.5 million and total income of $ 4.3 million in the quarter and mine operating profit of $ 23.8 million and total income of 15.7 million dollars since the beginning of the fiscal year.
- 10,743 tonnes of zinc concentrate produced with an average of 45% zinc, 2.29 g / t gold, 724 g / t silver and sold approximately 10,169 tonnes of zinc concentrate generating revenues of 12, 32 million US dollars. The Company also produced 2,690 tonnes of lead concentrate grading an average of 22% lead, 1.56% copper, 5.45 g / t gold, 919 g / t silver and sold 2,296 tonnes generating lead concentrate revenues of US $ 2.1 million.
- Total C1 cash costs per pound of zinc of US $ 0.45 and all-in sustaining costs * (“AISC”) of US $ 0.70 during the quarter.
- The Company processed 168,443 tonnes of mineralized material, compared to approximately 127,438 tonnes of ore processed during the comparative period.
- The mineralized material mined during the period was 151,388 tonnes grading 4.30% zinc, 1.18% lead, 137 g / t silver and 1.13 g / t gold, achieving recoveries 66.4% zinc, 29% lead, 11.3% gold and 23% silver.
About Altaley Mining Corporation
Altaley Mining Corporation is a Canada-based mining company with two 100% owned gold, silver and base metals mining projects in Mexico.
Altaley’s Tahuehueto mining project is located in the northwestern state of Durango, Mexico, where construction has been advanced at about 80% of completion on its 1,000-tonne-per-day processing facility and l he related mining infrastructure to start production of gold, silver, lead and zinc in is concentrated in Tahuehueto. The Company is targeting initial pre-production towards the end of 2021 and ramping up to full production capacity in Q1-Q2 2022.
Campo Morado is an operating polymetallic base metal mine with mining and milling equipment currently producing at an average rate of approximately 2,100 tonnes per day. Campo Morado is currently estimated to be Mexico’s 6th largest zinc producer.
On behalf of the board of directors
(signed) “Ralph Shearing”
Ralph Shearing, P. Geol, CEO, President and Director
CAUTION REGARDING PRODUCTION DECISIONS AND FORWARD-LOOKING STATEMENTS
It should be noted that Telson declared commercial production at Campo Morado before completing a mineral reserve feasibility study demonstrating economic and technical viability. Therefore, readers should be cautioned that Telson’s production decision was made without a full feasibility study of established reserves, so there is greater risk and uncertainty about the future economic results of the production. Campo Morado mine and a higher technical risk of failure than would be the case if a feasibility study were carried out and used to make a production decision. Telson has completed a Preliminary Economic Assessment (“PEA”) mining study on the Campo Morado mine which provides a conceptual mine life plan and preliminary economic analysis based on previously identified mineral resources (see press release). release of November 8, 2017, and April 4, 2018).
Statements in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities laws. Forward-looking information includes, without limitation, disclosure regarding the planned resumption of mining operations at Campo Morado; and other possible financial events, conditions or performance which are based on assumptions about future economic conditions and action plans; the timing and costs of future activities on the Company’s properties, such as production rates and increases; the successful exploration, development and processing of bulk samples; and the processing schedule at its own mineral processing facility at the Tahuehueto project site. In some cases, forward-looking information may be identified using words and phrases such as “plans”, “expects”, “expected”, “estimates”, “forecasts”, “intentions”, ” anticipates ”or variations of these words and phrases. In preparing the forward-looking information in this press release, the Company has applied several important assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives relating to the Campo Morado mine and the Tahuehueto project can be achieved; that the resumption of operations at Campo Morado will proceed as planned; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the companies. forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. Except as required by law, the Company assumes no obligation to publish revisions to forward-looking information contained in this press release to reflect events or circumstances subsequent to the date hereof or to reflect the occurrence of unforeseen events. .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information on Altaley Mining Corporation, please contact:
Corporate communications manager
Phone. : +1 (604) 684-8071