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Americas Gold and Silver Corporation T.USA

Alternate Symbol(s):  USAS

Americas Gold and Silver Corporation is a Canada-based precious metals mining company with multiple assets in North America. The Company owns and operates the Cosala Operations in Sinaloa, Mexico, manages the 60%-owned Galena Complex in Idaho, United States, and is re-evaluating the Relief Canyon mine in Nevada, United States. The Company also owns the San Felipe development project in Sonora, Mexico. The 100%-owned Cosala Operations are located in the state of Sinaloa, Mexico and consist of about 67 mining concessions that cover approximately 19,385 hectares (ha). The 60% owned Galena Complex is located in Idaho’s Silver Valley. The Relief Canyon Mine is located in Pershing County, Nevada. The project encompasses an open pit mine and heap leach processing facility. Its landholdings cover approximately 25,000 acres, which include the Relief Canyon Mine asset and lands surrounding the mine in all directions. The San Felipe silver-zinc-lead project is located in Sonora, Mexico.


TSX:USA - Post by User

Post by tigris72pooon Aug 15, 2020 12:25am
329 Views
Post# 31411836

Relief Canyon

Relief CanyonRelief Canyon Update Relief Canyon successfully poured its first gold in mid-February 2020 with initial construction completed nine months after construction formally commenced in mid-May 2019. The initial capital spend to first production was within the guidance range the Company provided of $28 - $30 million. The Relief Canyon mine continues to ramp up with mined tonnes and grade, reconciling well to the mine plan. Crushing rates have steadily increased to feasibility levels however ore stacking was impacted by a structural failure to the radial stacker resulting in reduced stacking rates from the use of a temporary stacker averaging approximately 8,000 tonnes per day instead of the targeted rate of over 16,000 tonnes per day with the original stacker. Repairs to the damaged stacker are expected to be completed by early Q4-2020. As of August 8, 2020, approximately 8.9 million tonnes of material have been mined, including 7.6 million tonnes of waste and 1.3 million tonnes of ore. Waste movement is ahead of budget and the operation currently has an ore stockpile of approximately 0.2 million tonnes ahead of the crusher waiting to be placed on the leach pad. Approximately 1.2 million tonnes of ore were stacked on the leach pad containing approximately 17,000 gold ounces. The Company is targeting commercial production by the end of Q4- 2020. To date, Relief Canyon sold approximately 1,565 ounces of gold and 5,512 ounces of silver. The Company will provide Relief Canyon operating metrics after reaching commercial production. While the Company was successful in meeting several important commissioning targets including initial construction capital, and planned mining and crushing rates, gold extraction has been slower than planned. While Relief Canyon has experienced start-up challenges typical to a heap leach operation, there are a number of factors impacting gold extraction, notably: the metallurgical characteristics of the initial ore stacked on the leach pad sourced from the existing three pits, inconsistent operating practices, solution application rates on the leach pad, and the failure of the radial stacker. The Company and its’ consultants have systematically analysed recent performance and have implemented a number of procedural changes to address these issues: improved ore control, increased training, standardization of operating practices and reagent optimization. This situation was further exacerbated by the impact of COVID-19 limiting accessibility of consultants and senior staff to site in the first half of the year. Leach pad 6W has been isolated to implement and monitor changes though leaching continues on all other areas of the leach pad. Liner installation in the 6W area is complete with over 60% of the overliner in place. As of August 4th, 2020, the operation began stacking higher grade gold ore from below the existing pits on this liner and has commenced with solution application, after receipt of the necessary permits. Separate lysimeters have been installed in this pad to closely track progress and make adjustments, as necessary. Based on preliminary review of this new area, management expects the ore will leach as estimated by the Relief Canyon Feasibility Study
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