VANCOUVER, BC, March 24, 2022 /CNW/ - Tarachi Gold Corp. (CSE: TRG) (OTCQB: TRGGF) (Frankfurt: 4RZ) ("Tarachi" or the "Company") is pleased to announce the appointment of Todd Roth as the Vice President of Operations for Tarachi.
Mr. Roth will oversee the development and operation of Tarachi's gold mining assets in Mexico, ensuring those assets are managed safely, efficiently and in compliance with local laws, regulations and international best practices. Mr. Roth will take responsibility for the development of the Company's Magistral gold tailings project as Magistral is advanced towards production, expected in 2023.
"I am very excitedto have such an experienced professional like Mr. Roth joining our management team at Tarachi," commented Cameron Tymstra, President & CEO. "His more than three decades of experience operating both open pit and underground mining projects in North America will prove invaluable to the success of our Magistral project's development. Beyond his extensive experience in mining operations, Todd is a leader in safety, team building and environmental stewardship. The Company and our Magistral project will further benefit from Todd's background in metallurgical engineering and experience in tailings reprocessing. The expansion of our team will help lay the groundwork for the Company's future growth as we continue to assess other high-potential gold projects in Mexico with the goal of adding to our project portfolio in 2022."
Mr. Todd Roth brings more than 30 years of experience in managing surface, underground and tailings mining operations in a range of commodities including, gold, copper, iron ore, coal, frac sand, and molybdenum. He has held roles such as General Manager and Vice President for several major mining companies including Cliffs Natural Resources, Sumitomo Metal Mining, and Thompson Creek Metals. Mr. Roth received a B.S. in Metallurgical Engineering from the South Dakota School of Mines and a Master of Business Administration from Baker University.
Options Issuance
The Company has granted 200,000 options to Mr. Roth under the Company's stock option plan. The options have an exercise price of $0.165 and will vest immediately. They are exercisable for a period of five years from the date of the grant and are subject to the policies of the Canadian Securities Exchange.
About Tarachi Gold
Tarachi Gold is a Canadian-listed junior gold exploration company focused on exploring and developing projects in Mexico. Tarachi acquired the Magistral Mill and tailings project in Durango, Mexico in 2021. Magistral includes a 1,000 tpd mill and access to a tailings deposit with Measured and Indicated resources of 1.26 million tonnes at a grade of 1.93g/t Au. The Company expects to bring the asset into production in early 2023.
The Company is also exploring on their highly prospective mineral concessions in the Sierra Madre gold belt of Sonora, Mexico in close proximity to Alamos Gold's Mulatos mine and Agnico Eagle's La India mine.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward–Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "hope", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward–looking statements or information. These forward–looking statements or information relate to, among other things: the participation of Ausenco and certain insiders in the Financing, future exploration programs, development of mining assets, securing project funding, acquisition of additional resources, future production, future cash flows, and the completion of drill holes; and receipt of assay results.
Forward–looking statements and forward–looking information relating to any future mineral production, liquidity, timing of completion of reports and studies, enhanced value and capital markets profile of Tarachi, future growth potential for Tarachi and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Tarachi's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Tarachi's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements or forward-looking information and Tarachi has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities in Mexico; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Tarachi's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or forward-looking information. Although Tarachi has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Tarachi does not intend, and does not assume any obligation, to update these forward–looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
SOURCE Tarachi Gold Corp.
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