Click here to close now.


News Feed Item

Marlin Gold Mining Ltd. Provides Operating and Corporate Update

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/19/14 -- Marlin Gold Mining Ltd. (TSX VENTURE:MLN)(OTCQX:MLNGF) ("Marlin" or the "Company") is pleased to announce an operating and corporate update. The ramp-up at Marlin's wholly owned La Trinidad mine in Sinaloa, Mexico ("La Trinidad") continues, with commercial production expected to be reached by the end of the third quarter. Through June 16, 2014, 867,986 tonnes of material have been mined from the Taunus and Bocas pits and 476,508 tonnes of material have been crushed and placed on the leach pad. Gold recoveries and grade reconciliation to the block model are behaving as expected. We are producing gold on a monthly basis, with total gold production and gold in solution to date of 1,892 ounces. As of today our cash balance is approximately $10.15 million with an additional $3.4 million in refundable tax receivables.

Mine Optimization Aims to Accelerate Mining of High Grade Material

Marlin's management and board of directors have embarked on an optimization program to accelerate the development of the main Taunus pit, with the objective of getting to the high grade "HS Zone" as quickly as possible. It is our expectation that the high grade zone will be mined materially sooner than what was contemplated in our June 2012 PEA. The HS Zone has been extensively drilled by Marlin and its predecessors, with select significant intercepts such as:

                         From       To  Interval    Gold       Press Release
Hole #          Zone      (m)      (m)       (m)   (g/t)               Dated
08TR012      HS Zone    151.0    212.1      61.1     8.5     October 6, 2008
08TR013      HS Zone    147.0    180.6      33.6     3.8     October 6, 2008
  including             160.9    168.2       7.3    15.8                    
09TR016      HS Zone    160.9    221.5      60.6     3.4        May 26, 2009
  including             160.9    197.4      36.5     5.2                    
09TR025      HS Zone    151.0    232.8     81.75     3.6   September 9, 2009
  including             167.3    199.1     31.85     7.1                    
09TR027A     HS Zone    170.0    188.7      18.7    5.16   December 10, 2009
  including             176.0    187.5      11.5    7.67                    
09TR034A     HS Zone    132.0    166.5      34.5    8.66    January 27, 2010
09TR041      HS Zone    202.0    242.9      40.9    11.9       March 3, 2010
10TR044      HS Zone    112.0    127.6      15.6     5.6      April 28, 2010
  including             119.0    125.6       6.6    12.3                    
SN22         HS Zone    125.5    157.5      32.0    4.07       July 21, 2011

A more detailed discussion of the Company's drill results can be found in the "Amended NI43-101 Technical Report, Preliminary Economic Assessment, Trinidad/Taunus Project, Sinaloa, Mexico", originally dated June 1, 2012 as amended July 12, 2012 (the "June 2012 PEA"), prepared by SRK Consulting (U.S.) Inc. and available under the Company's profile at

Advancement of Golden Reign Streaming Transaction

An internal scoping study at Golden Reign Resource Ltd.'s ("Golden Reign") San Albino Gold Project in Nueva Segovia, Nicaragua was recently completed. Prepared by Sonoran Resources LLC, the nominated EPCM firm, it is anticipated that this scoping study will form the basis of a preliminary economic assessment, which will provide the details of the mine design and plant throughput capacity, with the objective of bringing the San Albino Gold Project into production as quickly and efficiently as possible using Sonoran Resources as the nominated EPCM contractor.

Marlin and Sailfish Royalty Corp. ("Sailfish", Marlin's wholly-owned subsidiary) are pleased to announce that negotiations on the principal transactional documents for the equity and streaming transaction (the "Golden Reign Transaction") have continued to progress. Subject to the satisfaction of the remaining conditions, including finalization of the security documents by local Nicaraguan counsel, the parties expect that the Golden Reign Transaction will close in the coming weeks. Further details on the Golden Reign Transaction are available in our press release dated February 26, 2014.

Share Consolidation

Contemporaneously with the closing of the Golden Reign Transaction, and subject to the approval of the TSX Venture Exchange, Marlin expects to complete the previously announced share consolidation of its outstanding common shares on a 10:1 ratio (the "Share Consolidation"). The Share Consolidation was previously approved by Marlin's shareholders at the Company's May 16, 2014 annual general and special meeting of shareholders.

Management Changes

Marlin announces the resignation of Priscila Costa Lima as the Company's Chief Financial Officer and of Mimy Fernandez-Maldonado as of the Company's Corporate Secretary. Effective immediately, Marlin is pleased to announce that Mr. Scott Kelly has been appointed as the Company's Chief Financial Officer and Corporate Secretary. Mr. Kelly has extensive experience as an officer and consultant to junior mining and exploration companies having served in similar capacities with other issuers since 2004.

This management change will save the company approximately $13,000 per month, and management will continue to look for cost savings to make sure our industry low general and administrative expenses are even lower.

About Marlin Gold

Marlin Gold is a publicly-listed company on the TSX Venture Exchange with properties located in Sinaloa and Zacatecas, Mexico. Marlin's priority is to advance its properties toward commercial production and enhance shareholder value through financial optimization, namely through the growth of its wholly-owned subsidiary, Sailfish Royalty Corp. The La Trinidad property, which hosts the Taunus gold deposit, had a first gold pour on February 28, 2014. A NI 43-101 resource estimate and preliminary economic assessment for the Taunus gold deposit can be found at or at

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.

The technical information contained in this news release has been reviewed by (Gary) Yee-Yuen Wong, P.Eng., Marlin's Geological Consultant, who is a qualified person pursuant to National Instrument 43-101. Readers are cautioned that the conclusions, projections and estimates set out in this news release are subject to important qualifications, assumptions and exclusions, all of which are detailed in the June 2012 PEA, which is available on SEDAR at

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 the timing of commercial production and the available resources at La Trinidad, the closing and timing of the Golden Reign Transaction, the timing of the Share Consolidation, the Company's operations and management expenditures and the timing of reprocess of material and production from La Trinidad. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, 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 involved in the interpretation of drilling results and other tests and the estimation of gold resources; 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 related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; 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 current Annual Information Form filed on SEDAR at 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"eFolder does a lot of different things but we protect data and we are focused on protecting data no matter where it resides," explained Carlo Tapia, Product Marketing Manager at eFolder, in this interview at Cloud Expo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
In demand-intensive mobile and web applications, an emerging pattern is to host the Systems of Engagement in the cloud (for maximum responsiveness) but keep the Systems of Record with the other important business systems in the company datacenter, often on a tightly secured mainframe. But what about the space in between? In this IBM Redpaper publication, we show that the IBM Bluemix cloud platform offers technologies that make it easy for cloud-based SoEs to securely connect to on-premises IBM...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
OpsHub, Inc. has announced enhanced support for DevOps and Migration for both Team Foundation Server and Visual Studio On-line in a heterogeneous environment. With added support for build and release entities in OpsHub Integration Manager (OIM) Microsoft customers can now leverage Visual Studio build and release services to manage DevOps processes in a heterogeneous environment. With the enhanced support customers can manage the DevOps process in Team Foundation Server while undertaking activit...
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Cloud computing is unquestionably one of the driving forces of DevOps, as the automation of operations transforms enterprise software development. DevOps, however, is more than a technology trend, as it represents a move toward silo-busting, self-organizing horizontal teams that drive business velocity. At the same time, enterprise Digital Transformation represents an upheaval across the enterprise, as customer preferences and behavior drive enterprise technology decisions. This transformation ...
SYS-CON Events announced today that Catchpoint, a global leader in monitoring, and testing the performance of online applications, has been named "Silver Sponsor" of DevOps Summit New York, which will take place on June 7-9, 2016 at the Javits Center in New York City. Catchpoint radically transforms the way businesses manage, monitor, and test the performance of online applications. Truly understand and improve user experience with clear visibility into complex, distributed online systems.Founde...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...