Marlin Gold Mining Announces Commencement of New Mining Fleet and Countdown to High Grade HS Zone
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 14, 2016) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Marlin Gold Mining Ltd. (TSX VENTURE:MLN) ("Marlin") is pleased to announce that its newly hired mining contractor (as described in our February 8th, 2016 press release) is fully mobilized and has been mining over 50,000 tonnes per day since March 9th, 2016. This rate of production is nearly double the previous contractor's mining rate at the Company's La Trinidad mine in Sinaloa, Mexico. This new fleet will allow Marlin to begin accessing the high grade HS Zone of its La Trinidad mine in the second quarter of 2016. The Company has 3.9 million tonnes of waste to remove at La Trinidad, at which time the high grade HS Zone will make Marlin one of the lowest cost operations globally.
Akiba Leisman, Chairman and CEO of Marlin, states that "this is an important milestone in the Company's history. We have been mining at La Trinidad for over two years, with the removal of over 21 million tonnes of material in order to get to the point we are now. In less than 80 days we will be at the high grade HS Zone, with grades more than three times what we have been mining to date. The countdown to the HS Zone has begun, as we look to make Marlin one of the lowest cost gold miners in the Americas."
About Marlin Gold
Marlin is a publicly-traded gold and silver mining company with properties located in Sinaloa, Mexico and Arizona, USA. Marlin's priority is to advance its properties toward commercial production and enhance shareholder value through the growth of its wholly-owned subsidiary, Sailfish Royalty Corp. The La Trinidad property in Sinaloa, Mexico, declared commercial production on November 1, 2014. A NI 43-101 mineral resource estimate and preliminary economic assessment for the La Trinidad mine and Commonwealth project can be found at www.sedar.com or at www.marlingold.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement regarding forward‐looking information
This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward- looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements regarding the Company's intention to commence a NCIB, the potential purchases of Common Shares for cancellation under the NCIB program, the anticipated timing and the extent of such purchases under the NCIB program and the receipt of TSX-V approval. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, Marlin has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact
Akiba Leisman
Executive Chairman and Interim CEO
Marlin Gold Mining Ltd.
203-862-7059
aleisman@marlingold.com