Timmins Gold Corp.: 20,030 Ounces of Gold Sold During Third Quarter of Production
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/20/11 -- Timmins Gold (TSX VENTURE: TMM) is pleased to announce preliminary production statistics for its third quarter of commercial production ended December 31, 2010 from its wholly owned San Francisco open pit gold mine located in northern Sonora, Mexico.
A total of 20,030 ounces of gold was sold during the quarter ended December 31 which is a 28 % increase over the previous quarter.
SAN FRANCISCO MINE
PRELIMINARY PRODUCTION
STATISTICS
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Quarter ended December 31, 2010
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Total Material Moved Dry Ktonnes 5,777
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Ore Mined and Crushed Dry Ktonnes 1,208
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During the 3 month period average daily production from the mine averaged over 13,282 dry metric tonnes, an increase of 11 % over the previous quarter.
The strip ratio for the quarter averaged 3.7 to 1. The current life of mine strip ratio is projected at 1.73 to 1.
Average head grade for the quarter was 0.939 g/t which is in line with expectations.
Metallurgical recoveries are on target to achieve a rate of over 70%.
There were no accidents which resulted in lost time during the quarter.
About Timmins Gold
Focused solely in Mexico, Timmins Gold Corp is in commercial gold production at its wholly owned San Francisco gold mine in Sonora, Mexico. The mine is a past-producing open pit heap leach operation. Timmins Gold has forecast production at a rate in excess of 100,000 ounces of gold per year at a life of mine cash cost of approximately U.S. $489 per ounce. (Micon International NI 43-101 F1 Technical Report dated November, 2010)
This News Release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expects', 'plans, 'anticipates', believes', 'estimates', 'predicts', 'potential', or 'continue' or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements.
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.
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.
Contacts:
Timmins Gold Corp.
Bruce Bragagnolo, LLB
Chief Executive Officer
604-638-8980
bruce@timminsgold.com