Business
Americas Gold and Silver Provides an Update to the Re-Opening of Its Wholly Owned Cosalá Operations
TORONTO / Jul 21, 2021 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”) is pleased to provi
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":"TORONTO / Jul 21, 2021 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”) is pleased to provide an update to the re-opening plan for the Company’s Cosalá Operations. After signing an agreement with the Mexican government and the SNM Union (“Union”) to permanently re-open the Cosalá Operations on July 6, 2021, the Company jointly inspected the facilities with Union representatives and Government Labour inspectors. Both the mine and the mill appear to be in good condition. A re-start plan has been developed by local management and reviewed by the Corporate office. Mexican government inspectors from the Mexican Ministry of Labour will be in Cosalá this week to review the re-start plans, which should allow the Company to begin recalling employees immediately following the completion of the inspection assuming compliance with the terms of the July 6, 2021 agreement. Based on the favourable condition of the mine, the Company anticipates that both the mine and the mill will be operating by the end of August 2021 and for the Cosalá Operation to be at full capacity by the start of Q4-2021. The operation also has approximately 70,000 tonnes of ore in stockpile that can be processed as a contingency. Once production has been initiated, it is anticipated that the current higher silver prices will allow the Company to target the higher-grade silver ores in the Upper Zone of San Rafael and develop the silver-copper EC120 project. Mining these silver-rich areas of the Cosalá Operations is expected to significantly increase silver production to over 2.5 million ounces of silver per annum in the years following the re-start. Coupled with the exploration success at the Galena Complex in Idaho, where the Company is targeting to reach peak historical annual production levels of approximately 5 million ounces per year, the Company expects to significantly increase silver production over the next few years. About Americas Gold and Silver Corporation Americas Gold and Silver Corporation is a high-growth precious metals mining company with multiple assets in North America. The Company owns and operates the Relief Canyon mine in Nevada, USA, the Cosalá Operations in Sinaloa, Mexico and manages the 60%-owned Galena Complex in Idaho, USA. The Company also owns the San Felipe development pr...