Gatos Silver, Inc. - GATO STOCK NEWS

Gatos Silver (GATO) announced promising results from its reactivated drilling at Cerro Los Gatos (CLG), extending mineralization in the Southeastern (SE) and Northwestern (NW) zones. Key highlights include the identification of a new vein in the SE zone, with significant copper findings (GA370 yielding 1.3% copper). The 2021 drilling campaign involves 27,000 meters across 90 holes, focusing on converting inferred resources. The first 13 holes showed increased mineral grades of silver, zinc, and lead, indicating a positive outlook for resource confidence and potential reserve additions.

Gatos Silver has appointed Rodrigo Monroy as General Counsel effective April 1, 2021. Monroy brings over 30 years of legal expertise in multinational corporations and law firms across the U.S. and Mexico, having held significant roles at TTEC and Sun Microsystems. The CEO of Gatos Silver, Stephen Orr, expressed confidence in Monroy's ability to enhance the company's legal framework. Gatos Silver operates in a silver-rich area in Mexico, with extensive mineral rights that remain largely unexplored and recently commissioned its first mine at the Cerro Los Gatos deposit.

Gatos Silver announced the appointment of Daniel Muñiz Quintanilla to its Board of Directors, effective April 1, 2021. Muñiz brings over a decade of leadership experience from Grupo Mexico and its subsidiaries. Currently serving on the boards of Hudbay Minerals and Brookfield Infrastructure, his expertise is expected to benefit Gatos Silver as the company advances mining operations in the Los Gatos district, Mexico. The company has made significant progress, having defined 14 mineralization zones and launched its first operating mine and processing plant.

Gatos Silver reported record performance in the fourth quarter and year-end 2020, including production of 652,739 ore tonnes from its Cerro Los Gatos mine. Key achievements include record recoveries of silver, gold, zinc, and lead, alongside $172.5 million raised through an IPO. Despite a net loss of $35 million for the year due to increased expenses, the company ended 2020 with two profitable quarters. With a robust cash position of $150.1 million and plans for optimization in 2021, Gatos is poised for growth.

Gatos Silver, Inc. (GATO) has begun drilling at its wholly owned Santa Valeria project in southern Chihuahua, Mexico. This project is strategically located near the Los Gatos District’s mineral concession block and is expected to explore its silver potential. An 18-hole, 5,400-meter drilling campaign aims to test key targets identified in previous studies. Gatos Silver has a solid track record in the area, with its Cerro Los Gatos deposit projected to produce 12.2 million silver equivalent ounces annually. The company's CEO emphasizes the significance of this drill campaign in expanding its mineral asset base.

Gatos Silver has finalized an agreement with Dowa Metals & Mining, securing an additional 18.5% interest in the Los Gatos Joint Venture (LGJV), raising its ownership to 70%. Additionally, Gatos Silver will extinguish a $60 million working capital facility, reducing its attributable share by $42 million. This transaction is expected to conclude by the end of March 2021. CEO Stephen Orr highlighted this as a significant milestone, enhancing Gatos Silver’s position within the silver and zinc-rich mineral district in Mexico and supporting its production growth objectives.

Gatos Silver (GATO) announced a virtual Investor Day on March 18, 2021, at 10:00 a.m. MT/12:00 p.m. ET, focusing on exploration activities and updates for the Los Gatos District. The event is open to all, requiring prior registration. The company has identified 14 mineralization zones in a promising 103,087-hectare district in Mexico, with 85% still to be drilled. Gatos Silver's Cerro Los Gatos deposit aims for an annual production of 12.2 million silver equivalent ounces. A webcast replay will be available on the company's website post-event.

Gatos Silver, Inc. (NYSE/TSX: GATO) has successfully restored full power from Mexico's national grid at its Cerro Los Gatos (CLG) mine. Surface facilities and underground mining activities are now fully operational. The CLG process plant is set to resume early this week after expedited maintenance during the recent power outage. The company reports minimal impact on its mining operations due to this outage. Gatos Silver is known for its silver and zinc-rich mineral district in Chihuahua, aiming to produce 12.2 million silver equivalent ounces annually.

Gatos Silver (GATO) reports temporary power restrictions at its Cerro Los Gatos (CLG) site due to severe winter storms in Texas impacting natural gas supply to Mexico. The mine can maintain residential and administrative power through diesel generators but will operate underground mining at a reduced rate. Ore will be stockpiled due to processing plant shutdown for maintenance, which will be accelerated during this period. The firm continues to explore its mineral rights in Chihuahua, which remains largely underexplored with significant potential for silver production.