Magna Gold Hit Full-Scale Commercial Production at Mexican Gold Mine

SEATTLE (Scrap Monster): Magna Gold Corp.- the Canadian mining firm that operates mining properties in Mexico announced that it has achieved full-scale commercial production at its fully-owned flagship San Francisco gold mine in the Mexican state of Sonara on schedule.

According to company press release, the tremendous milestone of commercial production was achieved on June 1, 2021 as scheduled. The mine is expected to achieve a monthly production of approximately 6,000 ounces of gold during the third quarter this year, followed by an increased output of around 7,500 ounces of gold per month during Q4 2021. This will help the miner to meet its previously announced guidance of 55,000-65,000 ounces of annual gold production during the current year.

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During the initial half of the year, Magna had completed the necessary pre-stripping, substantially lowering the mine strip ratio. In addition, it had also completed construction of new leach pads and had begun stacking fresh ore. Furthermore, it had achieved optimization of grind size and leach kinetics.

Looking ahead, the company expects further downside in strip ratio along with improved recovery rates, which in turn will result in significant cost savings.