-- Posted Thursday, 10 December 2009 | Digg This Article
| | Source: GoldSeek.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 12/10/09) - Timmins Gold Corp. (TSX-V:TMM - News) is pleased to announce that it has made the first gold pour at its 100%-owned, San Francisco gold mine, located in the northern Mexican State of Sonora. Gold Plant superintendent Medardo Miramontes and Assistant Mine Manager Lucio Romero, under the supervision of Mine Manager Alfredo Barraza poured a 46 kg dore bar which has been assayed by Timmins Gold with a content of 77.93% Au, 19.49% Ag, and 2.58% in other metals. The contained ounces were 1,152.70 ounces of gold and 288.28 ounces of silver. At spot prices of US$1,140 gold and US$17.50 silver, the dore bar has a value of US$1,319,122 (US$1,314,078 of gold and US$5,044 of silver).
For pictures of the gold pour please refer to the Timmins Gold website at www.timminsgold.com.
About Timmins Gold
Timmins Gold Corporation is strategically positioned for growth as a gold production and development Company. Focused solely in Mexico, Timmins Gold is currently ramping up to full commercial production at its wholly owned San Francisco Gold Mine in Sonora, Mexico.
The mine is a past-producing open pit heap leach operation from which Timmins Gold has projected production at a rate in excess of 80,000 ounces of gold per year at a life of mine cash cost of approximately $412 per ounce. (Micon International Preliminary Feasibility Study, March 2008)
To date all plant and equipment necessary for full production is in place including crushing, leaching and extraction facilities. Surface drilling in the vicinity of the deposit is ongoing with the objective of adding gold ounces to the inventory to expand current mine life.
For further information contact Timmins Gold Corp. at 604-682-4002 or go to the website at www.timminsgold.com.
On behalf of the Board:
Bruce Bragagnolo, LLB
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.
Contact:
Timmins Gold Corp.
Bruce Bragagnolo, LLB
Chief Executive Officer
604-638-8980
bruce@timminsgold.com
www.timminsgold.com
-- Posted Thursday, 10 December 2009 | Digg This Article | Source: GoldSeek.com
