2018 production released.......San Francisco now produces from stockpiles..good decision..safes money...
VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”), today reports 2018 gold production of 101,3431 ounces from its two mines: the Florida Canyon Mine in Nevada and the San Francisco Mine in Mexico. Full financial and operational results will be reported in mid-March upon completion of the year-end financial statements and Management Disclosure and Analysis.
Florida Canyon continued its ramp-up and ended the year strongly with fourth quarter gold production of 12,922 ounces and full year production of 47,353, in line with the Company’s estimate upon acquiring the asset in late May 2018. During the month of December the mine achieved 792,000 dry short tons through the crushing circuit following a number of improvements that have been undertaken. The crushing circuit is on track to achieve its steady state rate of approximately 2.2 Mt per quarter by the second quarter of 2019 which is expected to result in gold production for 2019 of approximately 60,000 ounces.
At San Francisco fourth quarter gold production was 10,292 ounces and full year production was 53,990 ounces. Following a full technical review of the operations that commenced in September 2018 progress was made on reducing the dilution that was occurring in the more narrow, discontinuous zones of Phases 6, 7 and 8 of the San Francisco pit. Further engineering work is ongoing to optimize the life of mine plan, in particular to bring forward the satellite La Chicharra pit. While this work is ongoing, the mine has begun processing low grade stockpile material through the crushing circuit and has stopped mining in the San Francisco pit. There are sufficient stockpiles to operate at full capacity throughout 2019 (as at July 1, 2018, the low-grade stockpile consisted of approximately 7.2 million tonnes of 0.26 g/t gold material (60,200 contained ounces). Gold production at San Francisco is expected to remain consistent with current production levels for at least the first half of 2019.
About Alio Gold
Alio Gold is a growth-oriented gold mining company, focused on exploration, development and production in Mexico and the USA. Its principal assets include its 100%-owned and operating San Francisco Mine in Sonora, Mexico, its 100%-owned and operating Florida Canyon Mine in Nevada, USA and its 100%-owned development stage Ana Paula Project in Guerrero, Mexico. The Company also has a portfolio of other exploration properties located in Mexico and the USA.