Timmins Gold Reports Production of 27,013 Gold Equivalent Ounces for the Third Quarter of 2014
17.10.2014 | Marketwire
ANCOUVER, BRITISH COLUMBIA -- (Marketwired - Oct 17, 2014) - Timmins Gold Corp. (TSX:TMM) (NYSE MKT:TGD) is pleased to report preliminary production results for the Company's third quarter ended September 30, 2014. The Company produced 27,013 gold equivalent ounces during the quarter. Production for the first three quarters of 2014 was 97,687 gold equivalent ounces. Production during the quarter was impacted by record storms and rainfall in September which restricted access to the pit. This resulted in the Company processing lower grade ore from stockpiles and also caused dilution of gold in the leaching solutions, which reduced the recovered ounces. Despite the disruptions caused by the storms, including power outages, the operating team managed to maintain average crushing throughput in excess of 24,000 tpd. Operations are now back to normal. Management maintains production and cost guidance for the year and expects to reach the higher range of production guidance of 115,000 to 125,000 ounces of gold equivalent.| Category | Jul-Sept 2014 | Jul-Sept 2013 | % Change |
| Ore mined (t) | 2,017,523 | 2,110,667 | - 4% |
| Ore mined grade (g/t Au) | 0.561 | 0.684 | - 18% |
| Ore from LG stockpile (t) | 148,021 | 0 | + 100% |
| Ore from LG stockpile grade (g/t Au) | 0.282 | 0.000 | + 100% |
| Ore Processed (Dry t) | 2,213,740 | 1,815,709 | + 22% |
| Average Grade Processed (g/t Au) | 0.504 | 0.771 | - 35% |
| Low Grade Stockpiled (t) | 67,597 | 445,603 | - 85% |
| Average Grade Stockpiled (g/t Au) | 0.245 | 0.255 | - 4% |
| Waste Mined (t) | 6,208,303 | 5,441,889 | + 14% |
| Total Mined (t) | 8,225,825 | 7,703,201 | + 7% |
| Strip Ratio | 3.08 | 2.58 | + 19% |
| Gold deposited on pad (oz) | 35,889 | 45,016 | - 20% |
| Gold Produced (oz) | 26,671 | 29,139 | - 8% |
| Gold recovery (%) | 74 % | 65 % | + 14% |
| Gold Sold (oz) | 26,671 | 28,665 | - 7% |
| Silver Sold (oz) | 18,800 | 16,228 | + 16% |
| Days | 92 | 92 | 0% |
| Average Ore Processed (t/d) | 24,062 | 19,736 | + 22% |
| Average Total Mined (t/d) | 89,411 | 83,730 | + 7% |
| Average Realized Gold Price (per oz) | $1,284 | $1,329 | - 3% |
| Using a gold to silver ratio of 55 to 1 |
Arturo Bonillas, President of Timmins Gold stated, "The San Francisco Mine has been operating steadily at designed capacity for several quarters. We continue to look for ways to decrease costs and increase production. Despite the worst rainfall in over 20 years we have managed to come very close to our production target for the quarter. The exploration drill program on our high priority regional targets is continuing and we expect to provide initial drill results shortly."
About Timmins Gold
Timmins Gold is in commercial gold production at its wholly owned San Francisco Gold Property in Sonora, Mexico. The mine is an open pit heap leach operation from which Timmins Gold has projected production of 115,000 to 125,000 ounces of gold equivalent in 2014 with cash costs of approximately $800 per ounce.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) nor the New York Stock Exchange MKT accepts responsibility for the adequacy or accuracy of this news release.
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While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggestions herein. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements to conform these statements to actual results.
Contact
Timmins Gold Corp.
Bruce Bragagnolo, CEO and Director
604-638-8980
bruce@timmingsgold.com
Timmins Gold Corp.
Alex Tsakumis, Vice President Corporate Development
604-638-8976
alex@timminsgold.com
www.timminsgold.com