MONTREAL, QUEBEC -- (Marketwired) -- 03/19/18 -- Dynacor Gold Mines Inc. (TSX: DNG)(OTC: DNGDF) (Dynacor or the Corporation) is pleased to report its February 2018 gold production.
In February, the Corporation produced 6,636 ounces of gold at its Veta Dorada plant located in Chala, Peru surpassing the previous month of production by 19.4% (5,560 ounces in January 2018), see Figure 1, below. This monthly production is similar to the February 2017 production of 6,733 ounces which was attributable to the abnormally high-grade ore processed.
In February 2018, the Veta Dorada plant processed 6,278 DMT of material compared to 5,630 DMT in 2017, an 11.5% increase. Furthermore, in February the daily processing rate was 3.8% higher than in January.
Total ore processed in January and February 2018 (13,010 DMT) compared to 2017 (10,933 DMT) and to 2016 (8,273 DMT) shows an important upward trend, representing year on year increases of 19% and 32% respectively.
The Company continues to ramp up production at its new mill. February's gold production and processing rate are positive and in line with management's expectations.
In general, gold production increases steadily throughout the year. The rainy season occurs mainly during the first quarter of each year and affects artisanal ore mining and transport and consequently Dynacor's ore supply. Last year's extreme weather during the rainy season was declared a national emergency because of the widespread damage to country's infrastructure, these events are however exceptional. Dynacor's gold production was impacted in March and April and began to improve in May (see Figure 2, below).
Figure 1 and 2 are available at the following link: http://media3.marketwire.com/docs/1107518a_fig1-2.pdf
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 2017, Dynacor produced 79,897 ounces of gold, a 9% increase as compared with 2016 (73,477 ounces). 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
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Contacts:
Dynacor Gold Mines Inc.
Jean Martineau
President and CEO
514-393-9000 ext. 228
Dynacor Gold Mines Inc.
Dale Nejmeldeen
Director, Investor Relations
604.492.0099 / M: 604.562.1348
nejmeldeen@dynacor.com
