Telson Mining Corporation (CVE:TSN) (OTCMKTS:SOHFF) (FRA:TSGN) reported what it called strong first-quarter results from its polymetallic Campo Morado mine in Guerrero, Mexico, where the company is improving throughput and recoveries.
Estimated revenue for the three months to March 31 this year, is US$11.9 million, net of all concentrate sale deductions such as treatment charges and penalties, Telson said.
READ: Telson Mining closes previously announced C$10.08M placing as it looks to Tahuehueto gold mine restart
That is a 35% improvement on the fourth quarter of 2020, noted the miner, when the figure was US$8.8 million.
The first quarter saw 174,400 tonnes of ore milled, up 4% on the fourth quarter, while there was an improvement in average head grades and average recoveries across gold, silver, lead and zinc compared to the preceding quarter.
The average price realized for an ounce of gold in 1Q was US$1,763, down from US$1,843 in the fourth quarter of 2020, but the price for a tonne of zinc was up 15% at US$2,679.
Cash costs, all-in sustaining costs per pound and other operational financial details will be disclosed in the upcoming quarterly financial statements due to be filed on or before May 31, 2021, Telson added.
“These strong first-quarter results continue to reflect our steady progression of improving the throughput and recoveries at Campo Morado,” said Ralph Shearing, Telson CEO in a statement.
“To this end, management intends to initiate a rigorous metallurgical testing program to advance through second phase testing the Leachox Process of Maelgwyn Mineral Services and the Albion Process of Core Group, both of which returned positive test results in first phase testing,” he added.
“This metallurgical testing program will also study the ability to increase base metal recoveries at microfine grinding with flotation recovery using Imhoflot Flotation and Jamison Cell flotation technologies both designed for such purposes. We are confident that additional recovery improvements are available utilizing these exciting modern technologies which, if successful can provide increased revenue streams.”
Telson also holds the Tahuehueto mine project, also in Mexico, where it is working to finish building the processing plant and related assets to produce gold, silver and lead.
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