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New conveying and stacking system to raise production profile at Florida Canyon gold mine

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(Kitco News) - Argonaut Gold (TSX: AR) announced today that it has received all necessary regulatory approvals, including a modification to the existing Air Quality permit, to allow for the construction, installation and operation of a new conveying and stacking system at its Florida Canyon gold mine in Nevada, USA. 

According to the statement, the equipment associated with the conveying and stacking system is expected to begin arriving on site in May, and it is estimated that the new system will be operational and ramped up to design capacity during the third quarter of 2021. 

The company said that the new system will help to eliminate multiple re-handling of ore and significantly reduce the operating cost profile. The receipt of the Air Quality permit modification will allow Argonaut to execute on its plan to lower cost and raise the production profile at Florida Canyon, the company explained. 

Additionally, the conveying and stacking system will be operated on grid power and eliminate the need to run diesel haul trucks from the crusher to the leach pads, which, as Argonaut expects, will reduce greenhouse gas emissions.

The company noted that this change will also free up mobile equipment to transport more ore tonnes from the open pit to the crusher and is expected to increase the annual production profile at Florida Canyon beginning in 2022.

Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production. Its primary assets are the El Castillo mine and San Agustin mine, which together form the El Castillo Complex in Durango, Mexico, the La Colorada mine in Sonora, Mexico and the Florida Canyon mine in Nevada, USA. The company also holds the construction stage Magino project, the advanced exploration stage Cerro del Gallo project and several other exploration stage projects, all of which are located in North America.

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