SYS-CON MEDIA Authors: Ed Featherston, Kevin Benedict, Adrian Bridgwater, Carmen Gonzalez, Dana Gardner

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 www.sedar.com.

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 www.sedar.com or at www.marlingold.com.

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 www.sedar.com.

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 www.sedar.com. 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
This talk focuses on the application of DevOps fundamentals to include network infrastructure. It draws from real deployment case studies on the extension of today's paradigms to address the challenges of the network infrastructures' ability to seamlessly and cohesively integrate into agile workflows. In this session at DevOps Summit, Arista Networks will focus on configuration management using automation with a nod to future work necessary to include telemetry and ephemeral state information....
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developmen...
SYS-CON Events announced today that B2Cloud, a provider of enterprise resource planning software, 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. B2cloud develops the software you need. They have the ideal tools to help you work with your clients. B2Cloud’s main solutions include AGIS – ERP, CLOHC, AGIS – Invoice, and IZUM
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.
Database apps on mobile devices shouldn't stop working when there's limited or no network connectivity. In his session at 16th Cloud Expo, Bradley Holt, a Developer Advocate for IBM Cloudant, will discuss how to bring data stored in a cloud database to the edge of the network (and back again), whenever an Internet connection is available. He will demonstrate techniques for replicating cloud databases with mobile devices in order to build offline-enabled mobile apps that can provide a better,...
It's time to put the "Thing" back in IoT. Whether it’s drones, robots, self-driving cars, ... There are multiple incredible examples of the power of IoT nowadays that are shadowed by announcements of yet another twist on statistics, databases, .... Sorry, I meant, Big Data(TM), tiered storage(TM), complex systems(TM), smart nations(TM), .... In his session at WebRTC Summit, Dr Alex Gouaillard, CTO and Co-Founder of Temasys, will discuss the concrete, cool, examples of IoT already happening tod...
The WebRTC Summit 2015 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
SYS-CON Events announced today that CenturyLink, Inc., a leader in the network services market, has been named “Platinum 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 City, NY. CenturyLink is the third largest telecommunications company in the United States and is recognized as a leader in the network services market by technology industry analyst firms. The company is a global leader in cloud infrastructure and ...
SYS-CON Events announced today that MangoApps 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., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and eas...
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch ...
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on T...
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 ...
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.