Telson Resources Receives Two Permits in Mexico to Expand One and Construct Second Tailing Facilities - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 24, 2017) -Telson Resources(TSXV: TSN) (OTC Pink: SOHFF) has received permits from Semarnat for the reactivation of the existing tailings disposal facility and for the construction of a new larger tailings facility for its Tahuehueto Project, one of two gold, silver and base metal projects in Mexico the company is advancing towards production over the coming months of 2017 and early 2018.
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The reactivation of the existing tailing facility will allow dry stack tailings disposal under the company's current operating plan for Tahuehueto. This tailings facility covers 3.78 hectares, has an authorized tailing capacity of approximately 383,000 cubic metres, and will handle the project's initial tailing disposal requirements over the first 1-2 years of operation.
The permit granted by Semarnat for the construction of a new tailings disposal facility allows for the installation of a new and larger tailings disposal facility that will easily accommodate the mine plan envisioned within the Company's December 6, 2016 Pre-Feasibility Study. This new permit covers an area of 9.38 hectares and is authorized for an initial capacity of approximately 13,255,000 cubic metres, which will accommodate tailings from the current reserves targeted for mining within the Pre-Feasibility Study.
Tahuehueto, one of the highest-grade gold deposits in Mexico, has probable reserves of 3.26 million tonnes at 3.4 grams per tonne gold, 42 grams per tonne silver, 0.35% copper, 1.19% lead and 2.24% zinc.
The ultimate capacity of the new tailings disposal facility will allow for approximately 38 years of operation at the projected mill throughput of 350,000 tonnes per year, which will allow for possible expansion of the project upon successful exploration and development of new reserves and resources. At a milling rate of 1,000 tonnes per day, planned to be obtained within the first year of operation, Telson expects to operate under the current Semarnat permit for approximately 11 years.
In April, Telson signed an agreement to purchase 100% of Campo Morado for US$20 million. Campo Morado Mine includes infrastructure, installations, processing, plant and mobile mining equipment capable of producing 2,500 tonnes per day. Subject to securing funding, Telson plans to recommence mining operations at Campo Morado within 3 to 5 months.
Fundamental Research recently issued a report, giving Telson a buy recommendation and a fair value price of $1.82. The shares are trading at $0.57, and with 104 million shares outstanding, the company is capitalized at $59.3 million.
For more information please visit the company's website www.telsonresources.com, contact Glen Sandwell, Corporate Communications, at 604-684-8071 or email ir@telsonresources.com.
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