TORONTO, May 6, 2020 /CNW/ - 1911 Gold Corporation ("1911 Gold" or the "Company") (TSX-V: AUMB) is pleased to announce the commencement of the 2020 tailings reprocessing season at the company's True North complex in Manitoba. The Company is currently returning personnel to True North in stages to allow for the measured implementation of COVID-19 mitigation procedures, with plans to commence full operations by the third week of May. The Company's employees predominantly reside within the Province of Manitoba, which has seen a significant improvement in the number of COVID-19 infections and has recently announced plans to reopen the economy in four stages, starting on May 4, 2020.
On March 23, 2020, in order to reduce the spread of SARS-CoV-2, the operations at True North were moved to care and maintenance with only essential personnel remaining on site. Although companies within the resource sector in Manitoba were permitted to continue operations under Provincial guidelines and public health orders, the Company deemed the risk to personnel and local communities to be significant and chose to discontinue operations at that time.
The Company has enhanced and expanded the health and safety protocols in place at True North to allow for the safe return of personnel. These include pre-site screening questionnaires, onsite monitoring including temperature screening, additional hygiene measures, and modification of work areas and procedures to ensure physical distancing as well as the use of appropriate personal protective equipment. Further detail can be found on the website at https://www.1911gold.com/corporate/governance/COVID-19-Response-Measures/default.aspx.
Ron Clayton, 1911 Gold President and CEO, commented, "We are pleased to see the return of our employees and the resumption of activity at True North. Keeping our people and communities safe will continue to be our priority and we will continue to monitor the situation daily. With the safety measures we have put in place and the responsiveness of site personnel to these measures, we are confident that we can operate safely and effectively, and continue to create long term value for our stakeholders. We continue to praise the efforts of all those special people that have and continue to provide health care and essential services in this difficult time."
With the commencement of tailings reprocessing operations, the Company expects to process approximately 1,250 tonnes per day at an average grade of 0.8 grams per tonne. With the four week delay in starting the tailings reprocessing operations, the Company will experience a shortened operating season however, by focusing on higher priority areas, should be able to produce at levels comparable to previous operating years.
About 1911 Gold Corporation
1911 Gold is a junior gold producer and explorer that owns the True North mine and mill complex, and is reprocessing historic tailings on a seasonal basis. In addition to operating True North at Bissett, Manitoba, 1911 Gold holds approximately 54,000 hectares of highly prospective land within and adjacent to the Rice Lake greenstone belt. 1911 Gold believes its land package is a prime exploration opportunity, with potential to develop a mining district centred on its True North facility. The Company also owns the Tully project near Timmins, Ontario, and intends to focus on both organic growth opportunities and accretive acquisition opportunities in North America.
1911 Gold's True North complex and exploration land package are located within the traditional territory of the Hollow Water First Nation, signatory to Treaty No. 5 (1875-76). 1911 Gold looks forward to maintaining open, co-operative and respectful communication with the Hollow Water First Nation in order to build mutually beneficial working relationships.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about exploration plans and the timing and results thereof, and the proposed claim purchase, are forward-looking statements. Although 1911 Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
All forward-looking statements contained in this news release are given as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
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 release.
SOURCE 1911 Gold Corporation
For further information: Shaun Heinrichs, Chief Financial Officer, (604) 674-1293, [email protected], www.1911gold.com