Business
Telson Curtails Mining Operations at Campo Morado and Plans to Focus on Construction of Mine at Tahuehueto Gold Project
(via TheNewswire) Vancouver, British Columbia - TheNewswire - August 14, 2019 - Tels...
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[{"type":"text","content":"Telson Curtails Mining Operations at Campo Morado and Plans to Focus on Construction of Mine at Tahuehueto Gold Project(via TheNewswire)\n\n \nVancouver, British Columbia - TheNewswire - August 14, 2019 - Telson Mining Corporation (\"Telson\" or the \"Company\" (TSXV:TSN) (OTCPink:SOHFF) (Frankfurt:TSGN (formerly SQ82)) has decided to indefinitely curtail operations at its Campo Morado mine in Guerrero State, Mexico and place the mining project into care and maintenance. \n\n \n \nTelson's management and its Board of Directors have taken into account the following facts and events in coming to the decision to suspend mining operations at Campo Morado: i) As a result of certain activities in the vicinity of Campo Morado, the Company is concerned about the health and welfare of its workforce. Following an extended scheduled shut down for maintenance work, the Company has experienced a work stoppage at the mine. A significant portion of Campo Morado's current local work force and trucking companies, including their drivers have advised that they are unable to continue providing services to the Campo Morado mine as they claimed concerns with the relationship with the local Community. This has resulted in workers resigning their current positions at the mine making it difficult to continue mining operations. Additionally, the transportation issues make it very difficult to move concentrates out of the Campo Morado mine to the point of sale at the port of Manzanillo. As a result, a significant amount of concentrate is being stored at the mine site; ii) The substantial decline in zinc prices which negatively affects Campo Morado mine's profitability. \n\n\n \nNeither of these issues alone would have necessarily led to the decision to curtail operation at Campo Morado, however, Telson's management and Board of Directors believe that the Company's focus in an improving gold market should be to complete construction of the Company's Tahuehueto gold mine in Durango State, Mexico. Tahuehueto is Telson's flagship asset and once in production will shift the market's perception of Telson from primarily a base metals producer to a gold producer.\n\n \n \nTahuehueto Gold Mine Construction \n\n\n \n\n\n\nClick Image To View Full Size\n\n\n\nTelson has advanced Tahuehueto, a district scale epithermal mineralized system, by exploring only one of nu...