Vancouver, British Columbia--(Newsfile Corp. - October 16, 2017) - Amerigo Resources Ltd. (TSX: ARG) ("Amerigo" or the "Company") announced today production results for the third quarter of 2017 from Minera Valle Central ("MVC"), the Company's 100% owned operation located near Rancagua, Chile.
Operational Highlights for Q3-2017:
In Q3-2017, MVC produced 15.5 million pounds of copper at a cash cost of $1.69 per pound, pursuant to a tolling agreement with Codelco's Division El Teniente. Production guidance for 2017 is maintained at 60 to 65 million pounds of copper and 1.5 million pounds of molybdenum, at an annual cash cost of $1.60 to $1.75 per pound.
Construction of MVC's Phase Two expansion project is underway and is on track for completion in Q3-2018 with full production expected in Q4-2018. The project will increase MVC's production to 85 to 90 million pounds of copper per year, at an estimated cash cost of $1.40 to $1.60 per pound.
Summary of Production Results for the Most Recent Five Quarters:
| Q3-2017 | Q2-2017 | Q1-2017 | Q4-2016 | Q3-2016 | |
| Fresh tailings | |||||
| Tonnes processed | 11,152,930 | 10,708,437 | 10,566,171 | 9,782,870 | 11,373,542 |
| Copper grade | 0.117% | 0.110% | 0.120% | 0.116% | 0.113% |
| Copper recovery | 19.8% | 20.8% | 16.6% | 18.4% | 19.7% |
| Copper produced (millions of pounds) | 5.700 | 5.403 | 4.651 | 4.608 | 5.571 |
| Historic tailings | |||||
| Tonnes processed | 5,176,546 | 5,503,942 | 5,813,239 | 4,935,260 | 5,435,474 |
| Copper grade | 0.235% | 0.253% | 0.254% | 0.239% | 0.236% |
| Copper recovery | 33.0% | 33.5% | 29.4% | 31.1% | 34.4% |
| Copper produced (millions of pounds) | 9.787 | 10.289 | 9.594 | 8.065 | 9.756 |
| Maricunga toll processing | |||||
| Copper produced (millions of pounds) | - | 0.570 | 0.896 | 0.918 | 0.700 |
| Total copper produced (millions of pounds) | 15.487 | 16.262 | 15.141 | 13.591 | 16.027 |
| Total copper delivered (millions of pounds) | 15.251 | 16.197 | 15.175 | 13.417 | 15.599 |
| Cash cost ($/pound copper) | 1.69 | 1.53 | 1.71 | 1.87 | 1.60 |
Release of Financial Results for Q3-2017:
The Company will release Q3-2017 financial results at market open on Wednesday November 8, 2017, followed by an investor conference call on Thursday November 9, 2017 at 11:00 am Pacific Daylight Time/2:00 pm Eastern Daylight Time.
Conference Call Participation:
To participate in the call, please dial 1-866-225-0198 (Toll-Free North America) and let the operator know you wish to participate in the Amerigo Resources conference call. Media are invited to attend on a listen-only basis. Following management's discussion of the quarterly results, the analyst and investment community will be invited to ask questions.
About the Company:
Amerigo Resources Ltd. is an innovative copper producer with a long-term relationship with Corporación Nacional del Cobre de Chile ("Codelco"), the world's largest copper producer. Amerigo produces copper concentrate at its 100% owned Minera Valle Central operation in Chile by processing fresh and historic tailings from Codelco's El Teniente mine, the world's largest underground copper mine. Tel: (604) 681-2802; Fax: (604) 682-2802; Web: www.amerigoresources.com; Listing: ARG:TSX.
