Dynacor Reports 24 % Increase in Gold Production for the First 2 Months of 2017
MONTREAL, QUEBEC--(Marketwired - Mar 29, 2017) - Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to report that despite the extremely intense rainy season this year in Peru ore purchases in the first two months of 2017 are up by more than 30% and gold production by 24% as compared to 2016.
Generally, Dynacor's gold production is lower in the first 3-4 months of any given year due to the rainy season which slows artisanal mining activity and ore transport to the processing plant. However, in 2017, due to the new Plant's strategic location in Chala just minutes off the main Pan American highway access for ore trucks is greatly facilitated. Production increased in the first 2 months and even reached an all-time record for the month of February of 6,736 oz as compared to previous years.
This increase is also due to the measures taken by the company to increase gold production in the last 6 months of 2016. For instance, since the Chala plant began operations, Dynacor has been buying ore from more than 100 new small artisanal miners.
Both in northern and central Peru, extreme weather conditions have worsened in March and flash flooding, landslides and intense rain is having an effect on the national economy and activity in all sectors. We expect that ore supply for the Veta Dorada plant in Chala will be somewhat lower until mid-April, however, we should see much higher levels of gold production for the balance of the year.
Dynacor's new 300 tpd Veta Dorada plant is targeting 88-92,000 ounces of gold production in 2017, a 20-26% increase as compared to 2016. (see press release dated January 12, 2017).
ABOUT DYNACOR GOLD MINES INC.
Dynacor Gold Mines Inc. is a gold production corporation headquartered in Montreal, Canada. The corporation is engaged in production through its government approved ore processing operations. At present, Dynacor produces and explores in Peru where its management team has decades of experience and expertise. In 2016, Dynacor produced 73,476 ounces of gold, a 9% increase as compared with 2015 (67,603 ounces in 2015). In 2017, the corporation is targeting 88-92,000 ounces of gold production, a 20% increase from the previous calendar year. Dynacor trades on the Toronto Stock Exchange (DNG) and the OTC in the United States under the symbol (DNGDF).
FORWARD LOOKING INFORMATION
Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.
Dynacor Gold Mines Inc. (TSX: DNG)
Website: http://www.dynacor.com
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Contact
Jean Martineau
President and CEO
Dynacor Gold Mines Inc.
514-393-9000 ext. 228
Dale Nejmeldeen
Director, Investor Relations
Dynacor Gold Mines Inc.
T: 604.492.0099
M: 604.562.1348
nejmeldeen@dynacor.com
