Dynacor at Full Capacity, Produces a New Record High of 8,908 Oz of Gold in December 2017
MONTREAL, QUEBEC--(Marketwired - Jan 18, 2018) -
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Dynacor Gold Mines Inc. (TSX:DNG)(OTC:DNGDF) (Dynacor or the Corporation) is pleased to announce the Corporation's gold ore processing facility in Chala (Peru) has been running at its full capacity of 300 tpd since the 25th of November. Gold production in the month of December reached an all-time record high of 8,908 oz.
In 2017, for its first full year of operations, Dynacor's new Veta Dorada plant achieved a 12-month production record of 79,897 ounces of gold. Contributing to this milestone is a record high gold production of 24,066 ounces in the fourth quarter.
2017 fourth quarter operating highlights:
- Reached full capacity of 300 tpd on November 25th (see Figure 1);
- Record monthly gold production of 8,908 ounces in December (see Figure 2), a 31% increase as compared to December 2016 (6,803 oz);
- Record quarterly gold production of 24,066 ounces, a 15 % increase as compared to Q4 2016 (20,015 oz).
2017 full-year operating highlights:
- Record annual gold production of 79,897 ounces at the top end of management's production guidance of 78-80,000 ounces;
- Total ore processed per month increased by 62% from January (5,303 metric tonnes) to December (8,610 metric tonnes);
- Total ore purchased per month increased by 74% from 4,926 metric tonnes in January to 8,574 metric tonnes in December.
Jean Martineau, Dynacor's President and CEO stated, "I am pleased to be able to report that our new Veta Dorada plant is operating smoothly and in conformity with its design specifications. Gold production, in 2017, reached an all-time record of 79,897 oz and our annual gold production is in an uptrend since 2015. Based on our Q4-2017 production of 24,066 oz and the current ore gold grade delivered to the plant we are closing in, on an annualized basis, on the 100,000 ounces mark. The Veta Dorada plant in Chala is now operating at 300 tpd which is its rated initial capacity and our next operating goal is to be ramping up to 360 tpd capacity."
Réjean Gourde is nominated to the Board of Directors
Dynacor is pleased to announce the appointment of Réjean Gourde, P. Eng, as a member of the Board of Directors. The company's directors and its senior management are looking forward to working with Réjean Gourde and specifically drawing on his extensive worldwide experience at a senior level in the mining industry which will be of pivotal importance in developing our new 2018-2020 growth strategies.
Mr. Gourde is currently the President and CEO of Reunion Gold Corp. which is actively involved in exploration projects in Guyana and French Guyana. Réjean has also worked as a consultant with major gold producers such as IAMGOLD, AGNICO EAGLE MINES, SEMAFO, and OREZONE and was a senior Vice President for CAMBIOR for South America until 2006.
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). 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
Twitter: http://twitter.com/DynacorGold
Facebook: facebook.com/DynacorGoldMines
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Contact
Dynacor Gold Mines Inc.
Jean Martineau
President and CEO
T: 514-393-9000 ext. 228
Dale Nejmeldeen
Director, Investor Relations
T: 604.492.0099 / M: 604.562.1348
E: nejmeldeen@dynacor.com
