Marlin Gold Provides Operating Update for Its La Trinidad Mine in Sinaloa, Mexico
February 6, 2014 (Source: Marketwired) — Marlin Gold Mining Ltd. (TSX VENTURE:MLN) (“Marlin”) reports today that the first gold pour at the La Trinidad project will occur later this month. The pregnant, barren and contingency ponds are complete with piping scheduled to be complete by this weekend. Approximately 120,000 tonnes of material have been placed on the pad, and leaching will commence late next week.
A first phase exploration trenching program was completed on our site and the data has been used to design a drill program for our San Carlos and Potrerillos satellite targets. We expect to begin drilling those areas early this year, with the goal of significantly increasing the mine life of La Trinidad.
As of February 4, the Company had approximately $5.4 million in cash, which is expected to be sufficient to bring La Trinidad into production and fund working capital needs. The Company continues to evaluate accretive opportunities with a goal of materially increasing our share price.
John Brownlie, CEO commented that “Marlin has reached an exciting point in its history where it is a few weeks away from production. As a cash flowing mining company with no debt and a team that has demonstrated the ability to build assets efficiently, we look to grow our Company through accretive investments whether it be exploring our 118,000 hectare land package or external opportunities as they present themselves.”
About Marlin Gold
Marlin Gold is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Marlin Gold’s priority is to advance its properties toward production. The La Trinidad property, which hosts the Taunus gold deposit, continues to be the priority focus of Marlin Gold’s development activities and is on track to be in production by early 2014. A complete NI 43-101 resource estimate and preliminary economic assessment for the Taunus deposit can be found at www.sedar.com or at www.marlingold.com.
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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 in relation to statements regarding the timing of reprocess of material and production from La Trinidad. 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 the 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 current Annual Information Form filed 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>