Business
Americas Gold And Silver Corporation Provides Operations Update
TORONTO, May 4, 2020 /CNW/ -- Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) ("Americas" or the "Company"), a growing North American prec
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":" TORONTO, May 4, 2020 /CNW/ -- Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (\"Americas\" or the \"Company\"), a growing North American precious metals producer, today provided an operations update. Summary Relief Canyon poured first gold in mid-February 2020 and the Company remains confident that commercial production can be achieved towards the end of Q2-2020 or beginning of Q3-2020 despite the challenges presented by COVID-19. While Relief Canyon has been operating through the COVID-19 pandemic, ramp-up has been slower than anticipated due to an inability to get key management and consultants to site to troubleshoot common start up challenges. All operating aspects of Relief Canyon have now started to meet budget parameters. Waste movement is ahead of budget and there is an ore stockpile of over 0.2 million tonnes. As of April 30, 2020, approximately 3.3 million tonnes of material have been mined, including 2.5 million tonnes of waste and 0.8 million tonnes of ore. Ore gold grade mined and early grade reconciliation are in-line with the mine plan. Ore leaching has been slower than planned, a common issue when commissioning heap leach operations. Pregnant solution grade and solution application rate are now nearing design levels following improvements to agglomeration, solution application and stacking practices. The Galena recapitalization plan (\"Recapitalization Plan\") is proceeding better than expectations with the Company seeing benefits in both production and exploration. The Company plans to update the market on this asset on a more regular basis moving forward. The Mexican government issued a national decree to suspend non-essential businesses in relation to the COVID-19 pandemic until the end of May. This order affects all mining operations. Due to the rapidly changing and on-going uncertainty caused by the COVID-19 pandemic, which has resulted in the reduced ability to adequately meet the normal commissioning challenges at Relief Canyon with the COVID-19 limitations in place and impact to the Cosalá Operations, the Company has decided to withdraw its full-year 2020 guidance. Outlook for 2021 continues to be 90,000 to 110,000 gold equivalent ounces which assumes Relief Canyon is fully ramped up to commercial production and the Cosalá Operations has resumed normal operations and exp...