Vancouver, British Columbia, August 16, 2019
Telson Mining Corporation (“Telson” or the “Company” (TSX-V, OTC Pink-SOHFF, Frankfurt-TSGN (formerly SQ82)) is pleased to announce that ore shipments from its flagship Tahuehueto Gold Mine under construction are underway for delivery to the Atocha Toll Mill for processing scheduled to begin early next week.
Approximately 5,000 tonnes of Tahuehueto ore at a cut-off grade of 8 g/t AuEq will be available for processing on this current campaign. Mill processing is expected to be completed within two weeks and the produced lead and zinc concentrates sold immediately under the Company’s offtake agreement with Trafigura Mexico.
Tahuehueto’s previous toll milling campaigns have achieved consistent excellent recoveries of gold, silver, copper, lead and zinc producing excellent quality lead and zinc concentrates. Proceeds realized from the sale of the resultant concentrates have helped fund the construction of the Tahuehueto mine, now advanced to approximately 70% of completion.
Telson plans to continue its toll milling pre-production throughout the remainder of 2019 by shipping high-grade ore obtained during its ongoing underground development program to the Atocha Toll Mill. Upon completion of the current campaign the Company anticipate the next subsequent campaign to be delivered and ready for processing mid-September 2019.
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based mining company with two 100% owned Mexican gold, silver and base metal mining projects.
Telson's Tahuehueto mining project, located in north-western Durango State, Mexico is currently under development and waiting for final funding to complete construction of the processing plant and related assets to produce concentrates in its own on-site mineral processing plant, with a designed capacity of at least 1,000 tonnes per day, targeting completion of construction near end of Q1 2020.
Campo Morado is a polymetallic base metal mine with mining and milling equipment capable of producing up to 2,500 tons per day; which has been placed into care and maintenance pending better economic conditions and community relationships allowing for a restart of mining operations.
This press release was prepared under the supervision and review of Ralph Shearing, P.Geol., President and Director of Telson Mining Corporation, a Professional Geologist registered in Alberta as a member of the professional association APEGA, and a Qualified Person as defined by NI 43-101.
On Behalf of the Board of Directors
(signed) “Antonio Berlanga”
Antonio Berlanga, CEO and Director
Cautionary Note Regarding Production Decisions and Forward-Looking Statements
Statements contained in this news 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, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company’s properties, such as production rates and increases; success of exploration, development and bulk sample processing activities, and timing for processing at its own mineral processing facility on the Tahuehueto project site. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Campo Morado Mine and the Tahuehueto Project can be achieved, 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 which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the 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. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither 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 further information about Telson Mining Corporation, please contact:
Corporate Communications Manager
Tel: +1 (604) 684-8071