Cortez Gold Corp. ("Cortez" or the "Company") is pleased to report on the progress of construction at its gold and silver processing plant in Matehuala, Mexico (the "Altiplano Plant"), which is owned by the Company's Mexican subsidiary, Altiplano Goldsilver S.A. de C.V.
Having completed debt and equity financings earlier this year of over $3 million to complete construction of the facility and provide working capital, the Company has assembled a full-time crew of 20 employees working six days a week to have the Altiplano Plant operational by late fall.
Work-to-date has focused on the main infrastructures of the Altiplano Plant including the following:
- Comprehensive clean-up of courtyards, buildings and offices in preparation for inspection by health and safety authorities;
- Review and overhaul of existing equipment in the plant, currently estimated to be approximately 70% of the machinery and equipment necessary to operate the plant;
- Cleaning and repair or overhaul of the concentrates warehouse and the recirculated water storage tank, with epoxy shields being applied on both the interior and exterior of the tank;
- Cleaning of tanks and application of primary protectors;
- Installation of drinking water pipes to the offices and buildings;
- Installation of electricity from the precipitation area to the offices and buildings;
- Installation of foundation for the concrete dore smelter building;
- Review of equipment specifications and sourcing and finalizing the purchase of equipment from different suppliers and non-operating mills in Mexico, including:
- Lab, jaw and cone crushers and pulverizers
- Portable power plant
- Filter press for tailings
- Filter press for precipitates
- Clarifiers for the pregnant solution
- Water well pump
- Electric sub-station
"We are pleased with the progress of work to date to get the Altiplano Plant operations-ready," said Robert Eadie, President of Cortez Gold. "We anticipate completion of the plant by late fall, and are looking forward to inaugurating the plant and processing our first concentrate load before the end of the year."
About Cortez Gold Corp.
Cortez Gold Corporation is a Canadian precious metals production company, incorporated in 2007, headquartered in Vancouver, with operations in Mexico. Cortez is focused on efficient operations, strategic and accretive acquisitions, and financial strength. Cortez offers a low-risk gold processing business model that will generate cash flow, and provide low processing charges and efficient payment schedules to compete with larger scale smelters. Cortez Gold Corp. will grow as a company dedicated to high standards of corporate governance and sustainability. Visit www.cortezgoldcorp.com for more information.
ON BEHALF OF THE BOARD of Cortez Gold Corp.
(sgd.) "Robert Eadie"
Robert Eadie, President