Vancouver, British Columbia--(Newsfile Corp. - November 23, 2021) - Altaley Mining Corporation (TSXV: ATLY) (OTC Pink: ATLYF) (FSE: TSGA) ("Altaley" or the "Company") announces strong financial and operating results for the three months ended September 30, 2021 (Q3 - 2021). The Company's Financial Statements and Management Discussion & Analysis ("MD&A") are available on the Company's website at www.altaleymining.com and www.sedar.com. All financial information contained in this news release is unaudited and reported in CDN$, unless otherwise stated.
"Our Campo Morado team have produced another excellent quarter of operational results," stated Ralph Shearing, CEO. "Q3 AISC and C1 Cash Costs have reduced by $0.07 and $0.03 respectively per pound of zinc produced as compared to Q2 2021, resulting in gross revenue of just over $23 million and mine operating profit of $9.55 million for the quarter."
Q3 - 2021 Financial and Operational Highlights
Mine operating profit of $9.5 million and total income of $4.3 million during the quarter and mine operating profit of $23.8 million and total income of $15.7 million year to date.
10,743 tonnes of zinc concentrate produced with an average of 45% zinc, 2.29 g/t gold, 724 g/t silver and sold approximately 10,169 tonnes of zinc concentrate generating revenue from zinc concentrate of US$12.32 million. The Company also produced 2,690 tonnes of lead concentrate grading an average of 22% lead, 1.56% copper, 5.45 g/t gold, 919 g/t silver and sold 2,296 tonnes generating revenue from lead concentrate of US$2.1 million.
Total C1 cash cost per pound of zinc US$0.45 and all-in sustaining costs* ("AISC") of US$0.70 during the quarter.
The Company processed 168,443 tonnes of mineralized material, compared to approximately 127,438 tonnes of ore processed in the comparative period.
Mineralized material mined during the period was 151,388 tonnes grading 4.30% zinc, 1.18% lead, 137 g/t silver and 1.13 g/t gold, achieving recoveries of 66.4% in zinc, 29% in lead, 11.3% in gold, and 23% in silver.
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About Altaley Mining Corporation
Altaley Mining Corporation is a Canadian based mining company with two 100% owned Mexican gold, silver, and base metal mining projects.
Altaley's Tahuehueto mining project is in north-western Durango State, Mexico where construction has been advanced to an estimated 80% of completion on its 1,000 tonne per day processing facility and related mine infrastructure to initiate production of gold, silver, lead, and zinc in concentrates at Tahuehueto. The Company is targeting initial pre-production near the end of 2021 and ramping up to full production capacity during Q1-Q2 2022.
Campo Morado is an operating polymetallic base metal mine with mining and milling equipment currently producing at an average rate of approximately 2,100 tonnes per day, Campo Morado is currently estimated to be Mexico's 6th largest zinc producer.
For more visit: www.altaleymining.com