GOLD-SILVER: Americas pours first gold at Relief Canyon

[caption id="attachment_1003733720" align="aligncenter" width="600"] Relief Canyon project Credit: Americas[/caption] NEVADA – Americas Gold and Silver has announced that it has poured the first gold at its Relief Canyon mine and provided a two-year outlook for production growth. “Relief Canyon has successfully poured its first gold and the company is excited to see the asset ramp up toward commercial production in the second quarter of this year,” Darren Blasutti, the company’s president and CEO said in a release. “Our two-year outlook demonstrates that 2020 will be a transformational year for the company with further significant increases expected in 2021. Relief Canyon will provide considerable exposure to gold and increase the company’s forecasted consolidated revenue to approximately 70% from precious metals based on current prices.” Initial construction at Relief Canyon is now complete, within the estimated budget of US$28 million to US$30 million. Production at the mine is ramping up to the 14,500 t/d design crushing and stacking rate. With the addition of Relief Canyon, this year’s gold-equivalent production is expected at 60,000 oz. to 70,000 oz. at all-in sustaining costs of US$900 to US$1,100 per oz. As this mine ramps up, company-wide gold-equivalent output is forecast at 90,000 oz. to 110,000 oz. by 2021 at AISCs of US$850 to US$1,050 per oz. Last year, Americas produced approximately 14,000 gold-equivalent ounces. The Cosala silver mine in Mexico is the company’s other operating asset; in January, Americas reported an illegal blockade by a minority of unionized workers with mining and processing currently suspended. While discussions are ongoing with state and federal levels of government, forecasts for 2020 assume 11 months of production from the Cosala operations. Last year, Cosala contributed 572,000 oz. of silver with 800,000 oz. to 900,000 oz. of the precious metal expected in 2020 from this asset. For more information, visit www.Americas-Gold.com.