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Amerigo Resources Reports Q2-2020 Production Results and Provides Operational Update
VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. ("Amerigo" or the "Company") (TSX: ARG) announced today Q2-2020 production
About this update from Amerigo Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, July 23, 2020 (GLOBE NEWSWIRE) -- Amerigo Resources Ltd. (\"Amerigo\" or the \"Company\") (TSX: ARG) announced today Q2-2020 production results from Minera Valle Central (\"MVC\"), the Company’s 100% owned operation located near Rancagua, Chile. MVC produced 12.97 million pounds (“M lbs”) of copper at a cash cost of US$1.72/lb per pound, and 0.35 M lbs of molybdenum. In Q2-2020, MVC’s copper production from fresh and Cauquenes tailings increased 20% compared to Q1-2020. April 2020 May 2020 June 2020 Q2-2020 Fresh tailings Tonnes per day 123,650 124,149 110,347 119,435 Operating days 30 31 30 91 Tonnes processed 3,709,504 3,848,629 3,310,423 10,868,556 Copper grade 0.137% 0.140% 0.134% 0.137% Copper recovery 19% 21% 21% 20% Copper produced (million of pounds) 2.12 2.44 2.1 6.66 Cauquenes tailings Tonnes per day 35,323 34,573 37,907 35,875 Operating days 30 31 28 89 Tonnes processed 1,047,178 1,064,852 1,052,868 3,164,898 Copper grade 0.253% 0.257% 0.262% 0.257% Copper recovery 34% 35% 37% 35% Copper produced (million of pounds) 1.97 2.11 2.23 6.31 Copper produced (M lbs) 4.09 4.55 4.33 12.97 Cash cost (US$/pound copper) 1.79 1.65 1.73 1.72 Copper production results are in line with the Company’s 2020 guidance (refer to our news release of February 19, 2020) where the Company announced a reduction in Cauquenes tonnage processing to approximately 40,000 tonnes per day (“TPD”) through H1-2020 in response to drought conditions then present in central Chile. In Q2-2020, processing rates averaged 119,435 TPD for fresh tailings and 35,875 TPD for Cauquenes. Copper grade in fresh tailings was slightly higher than expected and recoveries from fresh and Cauquenes tailings also exceeded initial expectations in response to MVC’s initial plant debottlenecking initiatives. Operating days in Q2-2020 were 91/91 for fresh tailings and 89/91 for Cauquenes. Two days of operation were lost in Cauquenes in late June due to strong rainfall. Q2-2020 cash cost was US$1.72 per pound (“/lb”), US$0.13/lb lower than the Company’s latest cash cost guidance for the second quarter and US$0.22/lb lower than cash cost in Q1-2020. MVC’s operations continued through Q2-2020 without any significant disruptions due to Covid-19 and MVC’s response to Covid-19 was praised by Ch...