GGC NEWS:
Genco Resources names Liller as new president
2006-06-05 11:14 ET - News Release
Mr. Robert Gardner reports
GENCO APPOINTS GREG LILLER PRESIDENT
Genco Resources Ltd. has appointed Gregory K. Liller to the position of president. Mr. Liller has more than 28 years experience in exploration and mine development, 13 of which have been spent in Mexico.
In 1997, Mr. Liller initiated an exploration program in the Ocampo mining district, Chihuahua, Mexico, for Mogul Mining. In less than two years, this program delineated the first one million ounces of equivalent gold at Ocampo.
In 1999, Mr. Liller joined Gammon Lake Resources as vice-president of exploration. As the only member of senior management at Gammon Lake with experience in mineral exploration and mine development, he orchestrated the continued development of the Ocampo gold-silver mine, expanding the resource and reserve, and supervising the completion of a positive feasibility study in 2004. Construction at Ocampo began in March of 2005, with the first gold pour from the heap leach in January of 2006. Annual production at Ocampo is planned to be on the order of 300,000 ounces equivalent gold per year.
Mr. Liller was also instrumental in the formation of Gammon Lake's sister company, Mexgold Resources, in 2003, and its acquisition of the El Cubo gold-silver mine, Guanajuato, Mexico, in 2004. Over the subsequent year and a half, Mr. Liller oversaw programs which resulted in the doubling of El Cubo's reserve base and expanded production from approximately 40,000 ounces to the current annualized rate of over 75,000 ounces gold equivalent.
Mr. Liller states: "Genco is currently a profitable silver-gold producer and, in my opinion, the La Guitarra project is the best exploration opportunity I have been offered in Mexico. The Temascaltepec mining district has a rich history of high-grade silver and gold production and, with over 100 known veins occurring within a 15-kilometre by six-kilometre area, the potential is phenomenal. I am very pleased to be joining the Genco team."
On behalf of the board of directors of Genco Resources, chairman Robert Gardner would like to thank James McDonald for his service to the company as president over the past two and a half years. Mr. Gardner says, "Mr. McDonald was instrumental in making Genco a profitable silver producer." Mr. McDonald will continue to serve the company as a member of its board of directors and as a geological consultant.
new.stockwatch.com
In talking with IR I understand Mr. Liller thinks the MC of GGC is about 10% of what it should be. Time will tell.......
MR. Liller will be on Smartstox later today. |
