Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Alio Gold Files Technical Report and Provides San Francisco Update

VANCOUVER, British Columbia, Feb. 12, 2019 (GLOBE NEWSWIRE) -- Alio Gold Inc. (TSX, NYSE AMERICAN: ALO) (“Alio Gold” or the “Company”), today announced it has filed on sedar.com and its website an NI 43-101 compliant technical report entitled “Life of Mine Plan and Mineral Reserves for the Florida Canyon Gold Mine”.  The results of the report were previously reported by the Company (see news release dated January 15, 2019).

At San Francisco, the previously announced processing of low-grade stockpile material through the crushing circuit is working well.  In January, approximately 528,770 tonnes of stockpile grading 0.306 g/t gold were stacked on the leach pads.  Gold production for the month of January was consistent with Q4 production at approximately 3,890 ounces1.  There are sufficient stockpiles to operate at this capacity throughout 2019 and the Company is continuing to develop an engineered plan for recommencing mining activities.

As part of the engineered plan and consistent with the Company’s need to minimize costs at San Francisco, negotiations with the mining contractor, Peal Mexico SA de CV (“Peal”), continued in January with the objective of obtaining a cost structure that was more in-line with benchmark mining costs for the region.  Peal has notified the Company that it is seeking to terminate the contract and seeking compensation for amounts owing under the contract as well as additional amounts for cancellation of the contract that the Company believes have no basis.  Peal continues to operate on the San Francisco site, moving low grade stockpile material, and the Company is continuing to discuss these matters with the contractor.   In the event that discussions do not resolve the matter, the Company will vigorously defend its position.

About Alio Gold              

Alio Gold is a growth-oriented gold mining company, focused on exploration, development and production in Mexico and the USA. Its principal assets include its 100%-owned and operating San Francisco Mine in Sonora, Mexico, its 100%-owned and operating Florida Canyon Mine in Nevada, USA and its 100%-owned development stage Ana Paula Project in Guerrero, Mexico. The Company also has a portfolio of other exploration properties located in Mexico and the USA.

Footnotes:

  1. Approximate January 2019 gold production subject to finalization and refinery adjustments

For further information, please contact:
Lynette Gould
Vice President, Investor Relations
604-638-8976
lynette.gould@aliogold.com

Source: ALO

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) nor the New York Stock Exchange MKT accepts responsibility for the adequacy or accuracy of this news release.

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).