VANCOUVER, Oct. 26, 2018 /CNW/ - Marlin Gold Mining Ltd.
(TSX-V: MLN) ("Marlin" or the "Company") is providing an update on
Hurricane Willa, which made landfall on Mexico's Pacific coast as a Category 3 on
Tuesday evening and crossed over the Company's wholly owned
La Trinidad gold mine in
Sinaloa, Mexico (the "La Trinidad
Mine") early Wednesday morning.
The Company is pleased to report that no injuries were sustained
by any of Marlin's employees or contractors and that the clinic at
the La Trinidad Mine has been made available to members of the
local community impacted by the storm. To date, we have not
had to care for any serious injuries from members of the
community.
The heap leach pad, crusher and process plant do not appear to
have sustained any significant damage, although the Company is
still evaluating their operating condition. Pumps were active
and working throughout the storm, and no environmental discharge
occurred.
As a result of heavy rainfall from Hurricane Willa, a
significant amount of water has accumulated inside the Taunus pit,
which will need to be pumped. While the Taunus pit is being
dewatered, and until steady deliveries of consumables can be made,
the Company intends to process the surface stockpile located next
to the crusher.
The local municipality has begun to clear the roads to the La
Trinidad Mine, but until normal road access is restored, deliveries
of consumables will be limited. There is presently no estimate
on how long it will take to restore normal road access.
Importantly, Marlin is appropriately insured for property
damage, pit dewatering, debris removal and income loss due to
business interruption at the La Trinidad Mine.
About Marlin Gold
Marlin is a growth-oriented gold and silver mining company
focused on the Americas. The company owns three properties located
in Mexico and the USA and a portfolio of royalties. Marlin's
priority is to profitably operate its La Trinidad Mine, conduct
further exploration on its other projects and enhance shareholder
value through a strategic relationship with Sailfish Royalty Corp.
(TSX-V:FISH). Marlin is backed by a well-funded investor with a
successful track record in the resources sector. The La Trinidad
Mine in Sinaloa, Mexico declared
commercial production on November 1,
2014 and is one of the highest grade open pit heap leach
gold mines in Mexico.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary statement regarding
forward‐looking information
This news release contains "forward-looking statements"
within the meaning of applicable securities laws. Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by words such as the
following: expects, plans, anticipates, believes, intends,
estimates, projects, assumes, potential and similar expressions.
Forward-looking statements also include reference to events or
conditions that will, would, may, could or should occur, including,
without limitation statements relating to: the anticipated access
to mineralized material, including any potential mining thereof;
the timing and scope of certain drilling programs; the receipt of
assay results; statements regarding the perceived merit of
properties, exploration programs and budgets; anticipated capital
expenditures; mineral resource estimates; timelines; strategic
plans; and other statements that are not statements of fact. These
forward-looking statements are necessarily based upon a number of
estimates and assumptions that are based on management's
expectations and considered reasonable at the time they are made,
including among others: that work proceeds in accordance with the
timing and scope anticipated by management and that anticipated
market prices for precious and base metals are achieved. Investors
are cautioned that all forward-looking statements are inherently
subject to a variety of risks and uncertainties which could cause
actual events or results to differ materially from those reflected
in the forward-looking statements, including, without limitation:
uncertainties related to raising sufficient financing to fund
planned work in a timely manner and on acceptable terms; changes in
planned work resulting from logistical, technical or other factors;
the possibility that results of work will not fulfill
projections/expectations and realize the perceived potential of the
Company's projects; uncertainties involved in the interpretation of
drilling results and other tests and the estimation of gold
resources; risk of accidents, equipment breakdowns and labour
disputes or other unanticipated difficulties or interruptions; the
possibility of environmental issues at the Company's projects; the
possibility of cost overruns or unanticipated expenses in work
programs; the need to obtain permits and comply with environmental
laws and regulations and other government requirements;
fluctuations in the price of gold; and other risks and
uncertainties, including those described in the Company's annual
management's discussion and analysis filed on SEDAR at
www.sedar.com. As a result, readers are cautioned not to place
undue reliance on these forward-looking statements. The
forward-looking statements contained in this news release are made
as of the date of this release. Unless required by law, Marlin has
no intention to and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Marlin Gold Mining Ltd.