Creator of the article:
Publishing date:
Apr 28, 2022 • 13 minutes in the past • 3 minute learn • Be a part of the dialog
Article content material
Vancouver, BC., April 28, 2022 (GLOBE NEWSWIRE) — Patagonia Gold Corp. (“Patagonia” or the “Firm”) (TSXV: PGDC) pronounces its audited outcomes for the monetary 12 months ended December 31, 2021 (“YE 2021”). The audited consolidated monetary statements for YE 2021, along with the associated administration’s dialogue and evaluation, can be found on the Firm’s web site and beneath the Firm’s profile on SEDAR at www.sedar.com.
Highlights
- Generated income of US$18.1 million and gross revenue of US$4.5 million in YE 2021.
- Produced 9,336 gold equal ounces (1) and bought 10,007 gold equal ounces (1).
- Closed Can$9.3 million financing for exploration and growth of treasured metals initiatives in Argentina.
- Began a 3,500 meters drill program at Twister/Huracan within the province of Santa Cruz, Argentina.
- Accomplished 675 shallow, exploratory drill holes totaling 15,286 meters on the Monte Leon space, additionally in Santa Cruz.
- Acquired definitive environmental allow for the event of the Cap-Oeste challenge.
- Accomplished 901.5 kilometers of floor magnetics, geophysical surveying and 156 shallow, exploratory drill holes totaling 1,708 meters on the Calcatreu challenge positioned in Rio Negro Province, Argentina.
- Spent US $4.6 million for the exploration of key initiatives in Argentina.
Commercial 2
Article content material
(1) Consisting of 6,562 gold and 198,989 silver ounces of manufacturing and seven,062 gold and 215,541 silver ounces bought, transformed to a gold equal utilizing a ratio of the typical spot market worth for the commodities every interval. The ratio for 12 months ended December 31, 2021 was 73.03:1 (2020 – 85.99:1).
Christopher van Tienhoven, CEO said: “Regardless of ongoing difficulties on account of the worldwide pandemic, the Firm continued gold and silver manufacturing and superior work on its key exploration initiatives. The drilling at Monte Leon, 10 kms southeast of Cap-Oeste, has recognized a possible new supply of near-surface, oxidized mineralization, which our preliminary assessments recommend could also be amenable to processing on the Cap-Oeste leach pad. New exploration and engineering work is deliberate to outline the lateral and depth extent of Monte Leon mineralization and to allow the estimation of maiden mineral sources for this thrilling mineral prospect”.
Commercial 3
Article content material
Certified Individual’s Assertion
Donald J. Birak, an impartial, seek the advice ofing geologist and Registered Member of SME and Fellow of AusIMM, is the certified individual as outlined by Nationwide Instrument 43-101, has reviewed and accepted the scientific and technical content material of this information launch.
About Patagonia Gold
Patagonia Gold Corp. is a South America centered, publicly traded mining firm listed on the TSX Enterprise Change. The Firm seeks to develop shareholder worth by way of exploration and growth of gold and silver initiatives within the Patagonia area of Argentina. The Firm is primarily centered on the Calcatreu challenge in Rio Negro and the event of the Cap-Oeste underground challenge. Patagonia, not directly by way of its subsidiaries or beneath choice agreements, has mineral rights to over 420 properties in a number of provinces of Argentina and Chile and is without doubt one of the largest landholders within the province of Santa Cruz, Argentina.
Commercial 4
Article content material
For extra data, please contact:
Dean Stuart
T: 403 617 7609
E: dean@boardmarker.web
Christopher van Tienhoven, Chief Government Officer
Patagonia Gold Corp
T: +54 11 5278 6950
E: cvantienhoven@patagoniagold.com
FORWARD-LOOKING STATEMENTS
This information launch comprises sure forward-looking statements, together with, however not restricted to, statements with respect to, amongst different issues, the anticipated improve in curiosity within the Argentina mining sector, development and growth of gold and silver initiatives within the Patagonia area of Argentina, the anticipated development in shareholder worth,
future
processing on the Cap-Oeste leach pad and potential for enlargement at Monte Leon. Wherever doable, phrases akin to “might”, “will”, “ought to”, “might”, “anticipate”, “plan”, “intend”, “anticipate”, “imagine”, “estimate”, “predict” or “potential” or the destructive or different variations of those phrases, or related phrases or phrases, have been used to establish these forward-looking statements. These statements mirror administration’s present beliefs and are primarily based on data presently accessible to administration as on the date hereof.
Commercial 5
Article content material
Ahead-looking statements contain important threat, uncertainties and assumptions. Many components might trigger precise outcomes, efficiency or achievements to vary materially from the outcomes mentioned or implied within the forward-looking statements. These components must be thought-about rigorously, and readers mustn’t place undue reliance on the forward-looking statements. Though the forward-looking statements contained on this information launch are primarily based upon what administration believes to be affordable assumptions, the Firm can not guarantee readers that precise outcomes will probably be in step with these forward-looking statements. These forward-looking statements are made as of the date of this information launch, and the Firm assumes no obligation to replace or revise them to mirror new occasions or circumstances, besides as required by regulation.
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this information launch.
Commercial
