News Out
Atlantic Reports Q2 2018 Production of 22,269 Ounces 07/09/2018 8:00:00 AM GOLD RECOVERIES OF 95% ON TRACK TO MEET ANNUAL PRODUCTION GUIDANCE Canadian dollars unless otherwise noted VANCOUVER, July 9, 2018 /CNW/ - Atlantic Gold Corporation (TSX-V: AGB) ("Atlantic" or the "Company") is pleased to report gold production and sales for the second quarter 2018 at its Moose River Consolidated Gold Mine ("MRC") in Nova Scotia. Operating and production statistics for both the full second quarter and year to date 2018 can be found in the below table: Production Q2 2018 Year to Date* Tonnes Milled (t) 567,238 986,388 Gold Head Grade (g/t) 1.28 1.35 Gold Produced (oz) 22,269 40,452 Gold Recovery (%) 95.2% 94.7% Sales statistics for both the full second quarter and year to date 2018 can be found in the below table: Sales Q2 2018 Year to Date* Gold ounces sold 22,728 39,915 Average sale price $1,583 $1,598 Total revenue $35,967,625 $63,799,495 *Year to Date statistics represent 6 months of production and include 2 months of ramp-up as commercial production was declared effective March 1, 2018. Maryse Blanger, President and Chief Operating Officer, commented "We are very pleased to have achieved strong production statistics during the second quarter. Milled head grade for Q2 2018 was 11% below life of mine reserve grade due to constraints in the pit where historical tailings had to be removed and prevented access to higher grade ore for more than 8 weeks. Access to the higher grade mining blocks was achieved by the end of June. We continue to see good reconciliation between the resource model grade and milled grade." Ms. Blanger continued, "The efforts of the team have again led to steady-state mill operations with throughput and recoveries that continue to exceed design criteria. Despite the above noted challenges, the second quarter was a particularly good quarter with production of 22,269 ounces, above our Q2 guidance, and supporting our full year production guidance of 82,000-90,000 ounces announced on January 19, 2018." The Company plans to release its second quarter financial results on August 15, 2018 pre-market. Qualified Persons Kodjo Afewu, PhD, SME (CP), Plant Manager for the Company and a Qualified Person as defined by NI 43-101, has approved the scientific and technical information contained in this news release. Conference Call Details Atlantic Gold Corporation is hosting a live Q&A conference call to discuss the results on August 15th at 2:00 pm Eastern time (11:00 am Pacific time) with the Atlantic executive team. Further updates will be provided in due course. On behalf of the Board of Directors, Steven Dean Chairman and Chief Executive Officer