SYS-CON MEDIA Authors: Elizabeth White, Tom Leyden, Sean Houghton, Glenn Rossman, Ignacio M. Llorente

News Feed Item

Dynacor Gold Mines: Operational and Corporate Update

MONTREAL, QUEBEC -- (Marketwired) -- 02/24/14 -- Dynacor Gold Mines Inc. (TSX: DNG)(OTC: DNGDF) (Dynacor or the Corporation) in order to inform its shareholders is releasing an operational and corporate update on its ore processing operations and exploration activities in Peru.

Ore Processing and Gold Exports

As reported in our January 29, 2014 press release, the Peruvian Government tax and customs authorities "SUNAT", in an effort to eliminate illegal gold mining in Peru, have significantly increased their requirements in terms of documentation to be provided to Customs in order to verify the legitimacy of the origin of the gold presented for exportation. These procedures are aimed at gold exporters who do not own and operate a mine. Dynacor produces gold from the processing of ore purchased from government registered ore suppliers from all over Peru. Dynacor is providing Customs authorities with all the additional documentation we have been asked for on an ongoing basis.

Dynacor President and CEO Jean Martineau recently stated "I am confident that the problem related to the export of our gold will be resolved shortly. In the meantime, we are managing and securing our cash reserves prudently in order to be able to meet all of our obligations both in Canada and in Peru."

Huanca Gold Processing Plant

The Company is pleased to announce that in early January 2014 the Huanca plant's gold ore processing capacity was increased by 8.5% from 230 tonnes per day to 250 tpd. Since then, the plant operated at 250 tpd during the month of January and into February without any problems.

Gold ore that was contracted in January but only delivered last week to the plant is currently being processed at 150 tpd. The plant will have finished processing this ore by the end of February.

Gold and Silver Production

In 2013 gold production reached a record 76,883 ounces an increase of 25.5% as compared to 2012 (61,274 oz.). Silver production in 2013 was 131,686 ounces. In Q4-2013 gold production was 19,220 ounces an increase of 3.3% as compared to Q4-2012 despite a decrease in the processed ore gold grades from 1.03 oz/t (Q4-2012) to 0.99 oz/t in Q4-2013.

Gold Production in 2013 and in 2012


     -----------------------------------------------------------------
                                                                  2013
                    --------------------------------------------------
                            Q1        Q2        Q3        Q4     Total
                    --------------------------------------------------
     Au (oz)            20,022    17,899    19,741    19,221    76,883
     Grade(oz/t)         1.139     1.010     1.015     0.990     1.042
     Rate (tpd)            222       220       234       237       228
     -----------------------------------------------------------------

     -----------------------------------------------------------------
                                                                  2012
                    --------------------------------------------------
                            Q1        Q2        Q3        Q4     Total
                    --------------------------------------------------
     Au (oz)            13,111    12,392    17,168    18,603    61,274
     Grade(oz/t)         0.794     0.823     0.934     1.030      0.91
     Rate (tpd)            216       199       220       218       214
     -----------------------------------------------------------------

Until the Company receives authorization to resume its gold exports and is able to operate its Huanca plant on a normal basis the Company cannot reasonably publish a gold production guidance for 2014.

Chala Construction Permit

There have been no new developments regards the Chala construction permit for the moment. However, considering the current situation with respect to illegal gold exports, Dynacor expects that the construction permit will be further delayed.

Exploration at Tumipampa

Dynacor has now completed its current underground drilling campaign focused on the high grade Manto Dorado structure and its associated veins. The assay data from the last 5 drill holes will be released shortly as soon as they are available.

Dynacor recently reported close to the surface disseminated gold mineralization (see Press Release dated September 27, 2013) at Tumipampa. This part of the Tumipampa property has been further explored in a recent geochemical and surface sampling study. Topology of the area has been mapped, the geology of the area has been studied and a series of grab samples have been taken. The results will be published in due course.

ABOUT DYNACOR GOLD MINES INC.

Dynacor is an ore processing and gold exploration and mining company active in Peru through its subsidiaries since 1996. The Company differentiates itself from pure exploration companies as it also generates income and cash flow from its wholly owned ore processing plant in Peru. The Company's assets include five exploration properties, including the Tumipampa property, as well as its 230 tpd gold and silver ore processing mill at Huanca. Dynacor's mill produces gold from the processing of ore purchased from ore producers from all over Peru. Dynacor's strength and competitive advantage comes with the experience and knowledge the Company has developed while working in Peru. Its pride remains in maintaining respect and positive work ethics toward its employees, partners and local communities.

FORWARD LOOKING INFORMATION

Certain statements in the foregoing may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Dynacor, or industry results, to be materially different from any future result, performance or achievement expressed or implied by such forward-looking statements. These statements reflect management's current expectations regarding future events and operating performance as of the date of this news release.

Dynacor Gold Mines Inc. (TSX: DNG)

Website:http://www.dynacorgold.com

Twitter:http://twitter.com/DynacorGold

Facebook:http://www.facebook.com/pages/Dynacor-Gold-Mines-Inc/222350787793085

Shares outstanding: 36,373,587

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
SYS-CON Events announced today Isomorphic Software, the global leader in high-end, web-based business applications, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Isomorphic Software is the global leader in high-end, web-based business applications. We develop, market, and support the SmartClient & Smart GWT HTML5/Ajax platform, combining the productivity and performance of traditional desktop software ...
ScriptRock makes GuardRail, a DevOps-ready platform for configuration monitoring. Realizing we were spending way too much time digging up, cataloguing, and tracking machine configurations, we began writing our own scripts and tools to handle what is normally an enormous chore. Then we took the concept a step further, giving it a beautiful interface and making it simple enough for our bosses to understand. We named it GuardRail after its function - to allow businesses to move fast and stay sa...
SYS-CON Media announced today that Sematext launched a popular blog feed on DevOps Journal with over 6,000 story reads over the weekend. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Sematext is a globally distributed organization that builds innovative Cloud and On Premises solutions for performance monitoring, alerting an...
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
"Our premise is Docker is not enough. That's not a bad thing - we actually love Docker. At ActiveState all our products are based on open source technology and Docker is an up-and-coming piece of open source technology," explained Bart Copeland, President & CEO of ActiveState Software, in this SYS-CON.tv interview at DevOps Summit at Cloud Expo®, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The major cloud platforms defy a simple, side-by-side analysis. Each of the major IaaS public-cloud platforms offers their own unique strengths and functionality. Options for on-site private cloud are diverse as well, and must be designed and deployed while taking existing legacy architecture and infrastructure into account. Then the reality is that most enterprises are embarking on a hybrid cloud strategy and programs. In this Power Panel at 15th Cloud Expo (http://www.CloudComputingExpo.com...
Verizon Enterprise Solutions is simplifying the cloud-purchasing experience for its clients, with the launch of Verizon Cloud Marketplace, a key foundational component of the company's robust ecosystem of enterprise-class technologies. The online storefront will initially feature pre-built cloud-based services from AppDynamics, Hitachi Data Systems, Juniper Networks, PfSense and Tervela. Available globally to enterprises using Verizon Cloud, Verizon Cloud Marketplace provides a one-stop shop fo...
Leysin American School is an exclusive, private boarding school located in Leysin, Switzerland. Leysin selected an OpenStack-powered, private cloud as a service to manage multiple applications and provide development environments for students across the institution. Seeking to meet rigid data sovereignty and data integrity requirements while offering flexible, on-demand cloud resources to users, Leysin identified OpenStack as the clear choice to round out the school's cloud strategy. Additional...
SYS-CON Events announced today that IDenticard will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. IDenticard™ is the security division of Brady Corp (NYSE: BRC), a $1.5 billion manufacturer of identification products. We have small-company values with the strength and stability of a major corporation. IDenticard offers local sales, support and service to our customers across the United States and Canada...
SYS-CON Media announced today that Aruna Ravichandran, VP of Marketing, Application Performance Management and DevOps at CA Technologies, has joined DevOps Journal’s authors. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Aruna's inaugural article "Four Essential Cultural Hacks for DevOps Newbies" discusses how to demonstrate the...
The move in recent years to cloud computing services and architectures has added significant pace to the application development and deployment environment. When enterprise IT can spin up large computing instances in just minutes, developers can also design and deploy in small time frames that were unimaginable a few years ago. The consequent move toward lean, agile, and fast development leads to the need for the development and operations sides to work very closely together. Thus, DevOps become...
SYS-CON Events announced today that Windstream, a leading provider of advanced network and cloud communications, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Windstream (Nasdaq: WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, p...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...