Mr. Jean Martineau reports
DYNACOR AT FULL CAPACITY, PRODUCES A NEW RECORD HIGH OF 8,908 OZ OF GOLD IN DECEMBER 2017
Dynacor Gold Mines Inc.'s gold ore processing facility in Chala (Peru) has been running at its full capacity of 300 tonnes per day since Nov. 25. Gold production in the month of December reached an all-time record high of 8,908 ounces.
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 tonnes per day on Nov. 25; Record monthly gold production of 8,908 ounces in December, a 31-per-cent increase as compared with December, 2016 (6,803 ounces); Record quarterly gold production of 24,066 ounces, a 15-per-cent increase as compared with the fourth quarter of 2016 (20,015 ounces).
2017 full-year operating highlights:
Record annual gold production of 79,897 ounces was at the top end of management's production guidance of 78,000 to 80,000 ounces. Total ore processed per month increased by 62 per cent from January (5,303 metric tonnes) to December (8,610 metric tonnes). Total ore purchased per month increased by 74 per cent from 4,926 metric tonnes in January to 8,574 metric tonnes in December.
Jean Martineau, Dynacor's president and chief executive officer, 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 ounces and our annual gold production is in an uptrend since 2015. Based on our fourth quarter 2017 production of 24,066 ounces and the current ore gold grade delivered to the plant we are closing in, on an annualized basis, on the 100,000-ounce 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."
Dynacor is pleased to announce the appointment of Rejean Gourde, PEng, as a member of the board of directors. The company's directors and its senior management are looking forward to working with Mr. 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 the company's new 2018 to 2020 growth strategies.
Mr. Gourde is currently the president and chief executive officer of Reunion Gold Corp. which is actively involved in exploration projects in Guyana and French Guyana. Mr. Gourde 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 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-per-cent increase as compared with 2015 (67,603 ounces in 2015).
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