InvestorsHub Logo
Followers 583
Posts 77592
Boards Moderated 5
Alias Born 07/12/2010

Re: TRAPPER JIM post# 30394

Thursday, 05/19/2016 7:10:34 AM

Thursday, May 19, 2016 7:10:34 AM

Post# of 31637
Marlin Gold (MLNGF) $0.32 started mining their high grade deposit today. http://www.otcmarkets.com/stock/MLNGF/news

Marlin Gold Commences Mining at the High Grade HS Zone and Intersects 9.73 g/t Gold Over 7.5 Meters at the La Trinidad Open Pit Heap Leach Gold Mine in Sinaloa, Mexico
http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=20339
May 18, 2016 Vancouver, British Columbia – Marlin Gold Mining Ltd. ("Marlin" or the “Company”) (TSX-V: MLN) is extremely pleased to announce that it has commenced mining at the high grade HS Zone at its wholly owned La Trinidad mine in Sinaloa, Mexico (“La Trinidad”). The past one and a half years of commercial mining has been in preparation for this milestone, and over the course of the next weeks and months, La Trinidad will transition from being a high cost operation to become one of the lowest cost gold mines in the world.
Additionally, Marlin has completed an exploration program at La Trinidad. New drill intersections described below focused on the south side of the Taunus pit. Last year, Management deferred mining activities towards the south so that the Company could reach the high grade HS zone on an accelerated basis; as a result of this decision, the Company incurred $22.6 million in aggregate write-downs during 2015 as approximately 40,000 ounces were removed from the La Trinidad mine plan. Given the successful drill campaign on the south side of the deposit, the Company has recommenced mining on the south side of the Taunus pit. An updated life of mine plan is being engineered, and Management believes that there is a high likelihood that some, if not all, of the previously sustained write downs will be written back up over the course of 2016.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.