Vancouver, BC - Timmins Gold Corp. (TSX:TMM, NYSE.A:TGD) reports record gold production of 23,203 gold ounces for its Q2 2012 fiscal quarter ended June 30. Timmins Gold also produced 14,453 ounces of silver during the quarter.
During Q2 2012 a total of 39,028 ounces of gold were placed on the heap leach pads, compared to 31,150 ounces of gold during the previous quarter (Q1 2012), a 25.3% increase. Gold produced during Q2 2012 reached 23,203 ounces of gold, compared to 21,532 ounces in the previous quarter (Q1 2012), a 7.8% increase. The number of gold ounces placed on the pads is scheduled to increase during the rest of the year as the mine continues its expansion. Timmins Gold maintains its production target of 100,000 ounces of gold during 2012.
The increased production in Q2 was achieved despite downtime for the calibration of the new larger capacity tertiary crusher. The calibration of the crusher has resulted in a finer crush size of 3/8 of an inch which is designed to maximize recoveries. The gold recovery ratio was 59.45% for the quarter and would have been higher but for the fact that the crusher calibration caused a substantial amount of ounces to be placed on the leach pads towards the end of the quarter and those ounces will not be extracted until Q3. The recovery ratio adopted by the Company is defined as the ratio of gold ounces produced divided by the number of contained gold ounces stacked on the leach pads over that specific period.
The following are some key production statistics for Q2:
|Category||Apr-Jun 2012||Apr-Jun 2011||% Change|
|Dry tonnes of ore placed on pads||1,347,112||1,239,075||8.72%|
|Average grade (g/t Au)||0.901||0.859||4.86%|
|Low grade stockpiled||791,775||379,778||108.48%|
|Average grade stockpiled (g/t Au)||0.252||0.276||-8.74%|
|Total Mined (tonnes)||6,440,582||5,887,368||9.40%|
|Gold Ounces Placed on Pads||39,028||34,235||14.00%|
|Gold Ounces Produced||23,203||16,676||39.14%|
|Gold Recovery Ratio||59.45%||48.71%||22.05%|
|Gold Ounces Sold||23,499||17,965||30.81%|
|Average Ore Processed (t/d)||14,803||13,616||8.72%|
|Total Mined (t/d)||70,776||64,969||9.40%|
About Timmins Gold
Focused solely in Mexico, Timmins Gold Corp. is in commercial gold production at its wholly owned San Francisco gold mine in Sonora, Mexico. The mine is an open pit heap leach operation. Timmins Gold has forecast production at a rate in excess of 100,000 ounces of gold per year. (Micon International NI 43-101F1 Technical Report dated November, 2011).
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