SOHFF - Telson Reports Campo Morado Q4 2020 Production
(TheNewswire)
Vancouver, British Columbia – TheNewswire - January 11, 2021 - Telson Mining Corporation (“ Telson ” or the“ Company ” ) (TSXV:TSN ) , ( OTC:SOHFF ) , ( Frankfurt-TSGN (formerly SQ82)) is pleased to provideshareholders the preliminary production results for the fourth quarter(“Q4”) 2020 of Campo Morado Mine located in state of Guerrero,Mexico.
Campo Morado operations during Q4 2020 have shown asteady increase in production with December throughput productionincreasing to 57,081 tonnes of mineralized material being processedresulting in 3,756 tonnes of zinc concentrate and 740 tonnes of leadconcentrate for the month. Estimated head grade of the mineralizedmaterial processed, concentrate grades and recoveries are presented intable below.
Estimated revenues for Q4 2020, net of all concentratesale deductions such as treatment charges, penalties etc., wereapproximately US$8,766,889. (final revenue figures are subject to review and agreement of finalassay results) . C1 cash costs, all-insustaining cost per pound and other operational financial details willbe disclosed in the company’s upcoming annual audited financialstatements which are due to be filed on or before April 30,2021.
“Management is delighted to see steady improvementswith Campo Morado operations as a result of the dedication and hardwork of all management and personnel at the mine site”, states RalphShearing, President & CEO, “Operationshave achieved significant increases in throughput and concentrateproduction in an environment of increasing metal prices which ispositively affecting revenues. Telson is looking forward to anexcellent year ahead during 2021 from its Campo Morado miningoperations.”
About Telson Mining Corporation
Telson Mining Corporation is a Canadian based miningcompany with two 100% owned Mexican gold, silver and base metal miningprojects.
Telson's Tahuehueto mining project, located innorth-western Durango State, Mexico is waiting for final fundingto finish construction of the processing plant and related assets toproduce gold, silver, lead, and zinc in concentrates withinits own on-site mineral processing facility, with a designedcapacity of at least 1,000 tonnes perday. The Company is targeting completion ofconstruction during 2021, six to eight months after securing finalfunding.
Campo Morado is a polymetallic base metal mine withmining and milling equipment currently producing at an average ofapproximately 2,150 tonnes per day. Four monthsafter purchasing Campo Morado, Telson brought the mine backinto operation initiating preproduction in October 2017 anddeclared commercial production in May 2018, operating themine continuously for 22 months until August 2019 when the projectwas put on care and maintenance. Telson brought the mine out ofcare and maintenance and reinitiated mining andmilling operations during January 2020.
Qualified Persons
This press release was prepared under the supervision and review ofRalph Shearing, P.Geol., President. CEO and Director of Telson MiningCorporation, a Professional Geologist registered in Alberta as amember of the professional association APEGA, and a Qualified Personas defined by NI 43-101.
Visit: www.telsonmining.com
On Behalf of the Board ofDirectors
(signed) “Ralph Shearing”
Ralph Shearing, President andDirector
Cautionary Note Regarding ProductionDecisions and Forward-Looking Statements
It should be noted that Telsondeclared commercial production at Campo Morado prior to completing afeasibility study of mineral reserves demonstrating economic andtechnical viability. Accordingly, readers should be cautioned thatTelson’s production decision has been made without a comprehensivefeasibility study of established reserves such that there is greaterrisk and uncertainty as to future economic results from the CampoMorado mine and a higher technical risk of failure than would be thecase if a feasibility study was completed and relied upon to make aproduction decision. Telson has completed a preliminary economicassessment (“PEA”) mining study on the Campo Morado mine thatprovides a conceptual life of mine plan and a preliminary economicanalysis based on the previously identified mineral resources (seeNews Release dated November 8, 2017 and April 4, 2018).
Statements contained in this newsrelease that are not historical facts are “forward-lookinginformation” or “forward-looking statements” (collectively,“Forward-Looking Information”) within the meaning of applicableCanadian securities laws. Forward Looking Information includes, but isnot limited to, disclosure regarding the planned recommencement ofmining operations at Campo Morado; and other possible events,conditions or financial performance that are based on assumptionsabout future economic conditions and courses of action; the timing andcosts of future activities on the Company’s properties, such asproduction rates and increases; success of exploration, developmentand bulk sample processing activities, and timing for processing atits own mineral processing facility on the Tahuehueto project site. Incertain cases, Forward-Looking Information can be identified by theuse of words and phrases such as “plans”, “expects”,“scheduled”, “estimates”, “forecasts”, “intends”,“anticipates” or variations of such words and phrases. Inpreparing the Forward-Looking Information in this news release, theCompany has applied several material assumptions, including, but notlimited to, that the current exploration, development, environmentaland other objectives concerning the Campo Morado Mine and theTahuehueto Project can be achieved; that recommencement of operationsat Campo Morado will proceed as planned; the continuity of the priceof gold and other metals, economic and political conditions andoperations. Forward-Looking Information involves known and unknownrisks, uncertainties and other factors which may cause the actualresults, performance, or achievements of the Company to be materiallydifferent from any future results, performance or achievementsexpressed or implied by the Forward-Looking Information. There can beno assurance that Forward-Looking Information will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers shouldnot place undue reliance on Forward-Looking Information. Except asrequired by law, the Company does not assume any obligation to releasepublicly any revisions to Forward-Looking Information contained inthis news release to reflect events or circumstances after the datehereof or to reflect the occurrence of unanticipated events.
Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
For further information about TelsonMining Corporation, please contact:
Glen Sandwell
Corporate Communications Manager
ir@telsonmining.com
Tel: +1 (604) 684-8071
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