Marlin Gold Mining (MLN-V) has received assays of up to 7.57 grams of gold per tonne over 63.35 metres at its La Trinidad mine in Mexico. That zone included a 10-metre interval with a true width of about 4.2 metres, which averaged 29.34 grams per tonne. The infill hole that produced that glitter yielded more gold than expected, especially in the upper part of the hole, which will likely increase the modelled grade and tonnage in that part of the deposit. Mr. Leisman, executive chairman and interim chief executive officer, says that Marlin's "exploration success at La Trinidad is surpassing our expectations," adding that he and his crew are excited to be mining this material later this year.
Marlin currently lists 4.33 million tonnes measured and indicated at La Trinidad, at an average of 1.79 grams per tonne, with another 1.93 million tonnes inferred at 0.84 gram per tonne for a combined 300,000 ounces of gold. The company began mining at La Trinidad in 2014 and the operation produced just over 14,000 ounces in 2014 and over 24,000 ounces last year. Most of last year's gold was produced in the final three months, when the company was mining the higher-grade HS zone. Mining of the richer rock continues and Mr. Leisman says that La Trinidad should produce at least 50,000 ounces this year.
The New York-based Mr. Leisman, who has been interim CEO since he replaced John Brownlie in mid-2015, was getting $150,000 (U.S.) per year at last report. That is a bit of a bargain, as his predecessor, who held the job since 2010, was earning $225,000 (U.S.) per year. Mr. Leisman's shareholders are probably pleased with him, as Marlin's stock has been moving northward since it bottomed at 14.5 cents early last year.
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