VANCOUVER, British Columbia, April 26, 2024 (GLOBE NEWSWIRE) — Patagonia Gold Corporation (“Patagonia” or the “Company”) (TSXV: PGDC) announces that it has announced that it has announced that it has announced that it has announced that it has announced that it will continue to invest in its business operations for the fiscal year ended December 31, 2023 (“YE”). ) announced the results of its audit in 2023). Our 2023 audited consolidated financial statements, along with related management discussion and analysis, are available on our website and our profile on SEDAR+ (www.sedarplus.ca).
highlight
-
Generated revenue of USD 8.2 million in 2023.
-
Produced 4,498 gold equivalent ounces(1) Sold 4,290 gold equivalent ounces(1).
-
Spent US$3.7 million exploring major projects in Argentina. This includes completing:
-
5,500 meters of diamond drilling at the Monte León prospect in the El Tranquilo field.Encounter multiple zones of anomalous precious metal mineralization(2);
-
372 meters of reverse circulation (“RC”) drilling in the Sinter field of the La Josefina Project.and
-
165 meters of diamond drilling scheduled for April in late 2023.
-
A total of 714 meters of core drilling has been completed at Avril. Analytical results from this drilling are pending and drilling is expected to continue through 2024.
Note:
|
(1) |
Production consisted of 3,412 ounces of gold and 91,098 ounces of silver, and sales consisted of 3,275 ounces of gold and 83,988 ounces of silver, converted to gold equivalents using the ratio of the commodity's average spot market price for each period. The ratio for the year ended 31 December 2023 was 82.45:1 (2022 – 82.41:1). |
|
(2) |
For additional information regarding drilling at the Monte Leon Observatory (El Tranquilo Project), please refer to the news releases issued on March 1 and July 13, 2023 (on our website and on SEDAR+ (available in our company profile at www.sedarplus.ca). . |
Qualified Person Statement
Donald J. Birak, an independent consulting geologist, registered member of SME, Fellow of AusIMM, and Qualified Person as defined by National Instrument 43-101, is the scientific and technical author of this news release. reviewed and approved the information.
About Patagonia Gold
Patagonia Gold Corporation is a South America-focused publicly traded mining company listed on the TSX Venture Exchange. The Company seeks to increase shareholder value through the exploration and development of gold and silver projects in Argentina's Patagonia region. The company is primarily focused on developing the Calcatorow project in Rio Negro and the Cap Oeste underground project. Patagonia holds mineral rights to more than 430 properties in several Argentine provinces, either indirectly through its subsidiaries or under option agreements, and is one of the largest landowners in Argentina's Santa Cruz province. .
Christopher van Tienhoven, CEO
Patagonia Gold Corporation
Phone: +54 11 5278 6950
E: cvantienhoven@patagoniagold.com
Forward-looking statements
This news release contains certain forward-looking statements, including, without limitation, statements regarding, among other things, the receipt of analytical results from drilling at Abril and the continuation of drilling, gold progress and development. . silver projects and expected shareholder value accretion in Argentina's Patagonia region; As far as possible, “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe” , “estimate,” “predict,” or “potential” or negative or other variations of these words, or similar words or phrases to identify these forward-looking statements. It is used in These statements reflect management's current beliefs and are based on information currently available to management as of the date of this document.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from those discussed or implied by the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on forward-looking statements. Although the forward-looking statements contained in this news release are based on assumptions that management believes to be reasonable, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. You can't. These forward-looking statements are made as of the date of this news release, and the Company undertakes no obligation to update or revise them to reflect new events or circumstances, except as required by law. I am not responsible.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
