Telson Resources Inc. Obtains Two Semarnat Permits, One for Tailing Facility Reactivation Plus Another for Construction of New and Expanded Tailing Facility at Tahuehueto
Telson Resources Inc. (“Telson” or the “Company”) (TSXV:TSN) is pleased to announce that it has received permits from Semarnat (Secretaria de Medio Ambiente y Recursos Naturales) (“Semarnat”) for the reactivation of the existing tailings disposal facility and for the construction of a new larger tailings facility for the Tahuehueto Project, located in northwestern Durango State, …
Telson Resources Inc. (“Telson” or the “Company”) (TSXV:TSN) is pleased to announce that it has received permits from Semarnat (Secretaria de Medio Ambiente y Recursos Naturales) (“Semarnat”) for the reactivation of the existing tailings disposal facility and for the construction of a new larger tailings facility for the Tahuehueto Project, located in northwestern Durango State, Mexico.
The reactivation of the existing tailing facility will allow dry stack tailings disposal under the Company’s current operating plan for Tahuehueto. This tailings facility covers 3.78 hectares, has an authorized tailing capacity of 382,622 m3 and is now permitted for construction upgrade to reactivate and will handle the project’s initial tailing disposal requirements over the first 1 – 2 years of operation.
The permit granted by Semarnat for the construction of a new tailings disposal facility allows for the installation of a new and larger tailings disposal facility that will easily accommodate the mine plan envisioned within the Company’s December 6, 2016 Pre-Feasibility Study (the “PFS” – which is available on SEDAR or Telson’s website). This new permit covers an area of 9.38 hectares and is authorized under the Semarnat permit just granted for an initial capacity of 13,255,407 m3 which will accommodate tailings from the current 3.264 million tonnes of reserves targeted for mining within the PFS.
At a milling rate of 1,000 tonnes per day, planned to be obtained within the first year of operation, Telson expects to operate under the current Semarnat permit for approximately 11 years. The ultimate capacity of the new tailings disposal facility at Tahuehueto will allow for approximately 38 years of operation at the projected mill throughput of 350,000 tonnes per year which will allow for possible expansion of the project upon successful exploration and development of new reserves and resources.
About Telson Resources Inc.
Telson Resources Inc. is a Canadian based resource development company advancing two gold, silver and base metal projects towards production over the coming months of 2017 and early 2018. Telson’s Tahuehueto Project, located in north-western Durango State, Mexico and its recently acquired Campo Morado Mine in Guerrero, Mexico purchased from Nyrstar Mining are both polymetallic deposits containing significant gold, silver, lead, zinc and copper. Subject to securing funding, Telson plans to recommence mining operations at Campo Morado within 3 to 5 months while at the same time develop its Tahuehueto Project through the mine construction phase with an anticipated timeline to be producing at the project site in its own mineral processing facility by the end of the first quarter of 2018 or earlier.
On behalf of the board of directors
(signed) “Ralph Shearing”
Ralph Shearing, P.Geol
This press release was prepared under the supervision and review of Ralph Shearing, P.Geol., President and Director of Telson Resources Inc., a Professional Geologist registered in Alberta as a member of the professional organization APEGA, and a Qualified Person as defined by NI 43-101. Mr. Shearing has reviewed the subject Research Report’s technical disclosure with respect to published Pre-Feasibility Study results, reserves and resource statements and current operations on its project sites and verifies the accuracy of this information that has been obtained from Telson’s public disclosure. The economic analysis, where not previously publicly disclosed by Telson within published NI 43 – 101 compliant technical reports is solely that of the FRC analysts. There are no guarantees that the analysts forecasts will materialize and future results will likely vary.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities laws. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future activities on the Company’s properties; success of exploration, development and bulk sample processing activities; anticipated results of check assay results; and processing plans at the Atocha Mineral Processing Plant for mineralized material from the Company’s Tahuehueto project. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or variations of such words and phrases. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, that the current exploration, development, environmental and other objectives concerning the Tahuehueto Project can be achieved; that the implementation of the selective mining method will prove feasible based on the results of the bulk sample; that the mineral processing plant recently acquired by the Company will be successfully installed and commissioned, the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Cautionary Note Regarding References to Resources and Reserves
This news release uses the terms “measured and indicated resources” and “inferred resources”. We advise U.S. investors that while these terms are defined in, and permitted by, Canadian regulations, these terms are not defined terms under SEC Industry Guide 7 and not normally permitted to be used in reports and registration statements filed with the SEC. “Inferred resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of a feasibility study or prefeasibility studies, except in rare cases. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves”, as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in this category will ever be converted into reserves. U.S. investors are cautioned not to assume that any part or all of an inferred resource exists or is economically or legally minable.
Glen Sandwell, Telson Resources Inc.