Category: Silver / Gold

Atlantic Gold produces 19,612 oz Au in Q1

2019-04-10 07:42 ET - News Release
Ms. Maryse Belanger reports
Atlantic Gold Corp. has released its gold production and sales for the first quarter 2019 at its Moose River Consolidated gold mine (MRC) in Nova Scotia.
Operating and production statistics for the full first quarter 2019 can be found in the associated table.
Production                               2019
Tonnes milled (t)                     527,950
Gold head grade (g/t)                    1.21
Gold produced (oz)                     19,612
Gold recovery (%)                       95.1%

Sales statistics for the full first quarter 2019 can be found in the associated table.

Sales               2019  

Gold ounces sold  19,173


As previously guided, production for the first quarter of 2019 was expected to reflect the mining sequence and production schedule which called for lower grade in the first quarter. Scheduled maintenance activities were also completed in the first quarter including mill liner change and rebuilds of the mining fleet. In addition, the company experienced downtime due to grid power outages and unplanned maintenance to the transformer at Touquoy. The company is pleased to reiterate its annual production guidance for 2019 of 92,000 to 98,000 ounces of gold at all-in-sustaining costs between $695 and $755 per ounce ($521 (U.S.) to $566 (U.S.)/ounce at 0.75 U.S./Canadian dollar exchange).

Maryse Belanger, president and chief operating officer, commented: "We are pleased to have another winter almost behind us. The performance this quarter reflects both the challenges encountered and our production planning for operations. Overall production fell within the expected range for the conditions that were experienced. The team anticipates meeting annual guidance based on recent trends and planned activities for the remainder of the year."

Furthermore, the company plans to release its first quarter 2019 financial results on May 14, 2019, premarket.

Qualified persons

Dr. Kodjo Afewu, PhD, SME (CP), plant manager for the company and a qualified person as defined by National Instrument 43-101, has approved the scientific and technical information contained in this news release.

Conference call details

Atlantic Gold is hosting a live question-and-answer conference call to discuss the first quarter 2019 results on May 14 at 11 a.m. Eastern Time (8 a.m. Pacific Time) with the Atlantic executive team.

About Atlantic Gold Corp.

Atlantic is a well-financed, growth-oriented gold development group with a long-term strategy to build a mid-tier gold production company focused on manageable, executable projects in mining-friendly jurisdictions.

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