Titan Announces Return to Full Commercial Production; Maintains Full Year Guidance
Titan Mining (TSX:TI, OTCQB:TIMCF) has announced the return to full commercial production at its Empire State Mine in upstate New York following repairs due to damage caused by tropical Storm Debby on August 10, 2024. The electrical components of the underground crusher level were affected, but repairs were completed ahead of schedule and under budget.
Mining activities resumed on August 20, 2024, and continued during the repairs. With stockpiled ore and excess milling capacity, Titan expects to meet its original full year production guidance of 56 to 60 million payable pounds of zinc. The company's Vice President of Operations, Joel Rheault, expressed confidence in meeting production targets for the year.
Titan Mining (TSX:TI, OTCQB:TIMCF) ha annunciato il ritorno alla piena produzione commerciale presso la sua Empire State Mine nel New York settentrionale, dopo le riparazioni dovute ai danni causati dalla tempesta tropicale Debby del 10 agosto 2024. I componenti elettrici del livello del frantoio sotterraneo sono stati colpiti, ma le riparazioni sono state completate in anticipo rispetto al programma e sotto budget.
Le attività minerarie sono riprese il 20 agosto 2024 e sono continuate durante le riparazioni. Con i minerali accumulati e una capacità di fresatura in eccesso, Titan prevede di rispettare il suo obiettivo di produzione annuale di 56-60 milioni di libbre di zinco pagabili. Il vicepresidente delle operazioni dell'azienda, Joel Rheault, ha espresso fiducia nel raggiungimento degli obiettivi di produzione per l'anno.
Titan Mining (TSX:TI, OTCQB:TIMCF) ha anunciado el regreso a la plena producción comercial en su Empire State Mine en el norte de Nueva York tras las reparaciones debido a los daños causados por la tormenta tropical Debby el 10 de agosto de 2024. Los componentes eléctricos del nivel del triturador subterráneo se vieron afectados, pero las reparaciones se completaron antes de lo previsto y por debajo del presupuesto.
Las actividades mineras se reanudaron el 20 de agosto de 2024 y continuaron durante las reparaciones. Con mineral acumulado y capacidad de molienda excedente, Titan espera cumplir con su guía de producción anual de 56 a 60 millones de libras de zinc pagaderas. El vicepresidente de operaciones de la empresa, Joel Rheault, expresó confianza en alcanzar los objetivos de producción para el año.
타이탄 마이닝 (TSX:TI, OTCQB:TIMCF)은 2024년 8월 10일 열대성 폭풍 디비에 의해 발생한 손상으로 인한 수리 후 뉴욕 주 북부의 엠파이어주 광산에서 완전 상업 생산으로의 복귀를 발표했습니다. 지하 분쇄기 수준의 전기 구성 요소가 영향을 받았으나, 수리는 예정보다 앞서 완료되었고 예산 이하로 이루어졌습니다.
채굴 활동은 2024년 8월 20일에 재개되었으며 수리 중에도 계속되었습니다. 재고된 광석과 초과 밀링 용량을 고려하여 타이탄은 연간 5600만에서 6000만 파운드의 유효 아연 생산 목표를 달성할 것으로 예상합니다. 회사의 운영 부사장인 조엘 레올트(Joel Rheault)는 연간 생산 목표를 달성할 것이라는 확신을 표명했습니다.
Titan Mining (TSX:TI, OTCQB:TIMCF) a annoncé le retour à la pleine production commerciale à sa Empire State Mine dans le nord de l'État de New York, suite aux réparations effectuées après les dégâts causés par la tempête tropicale Debby le 10 août 2024. Les composants électriques du niveau du concasseur souterrain ont été affectés, mais les réparations ont été achevées en avance sur le calendrier et en dessous du budget.
Les activités minières ont repris le 20 août 2024 et se sont poursuivies durant les réparations. Avec les minerais stockés et une capacité de broyage excédentaire, Titan s'attend à atteindre son objectif de production annuel de 56 à 60 millions de livres de zinc payables. Le vice-président des opérations de l'entreprise, Joel Rheault, a exprimé sa confiance dans l'atteinte des objectifs de production pour l'année.
Titan Mining (TSX:TI, OTCQB:TIMCF) hat die Rückkehr zur vollen kommerziellen Produktion in seiner Empire State Mine im Norden von New York nach den Reparaturen bekannt gegeben, die wegen der Schäden durch den tropischen Sturm Debby am 10. August 2024 erforderlich waren. Die elektrischen Komponenten der unterirdischen Brecheranlage waren betroffen, aber die Reparaturen wurden vorzeitig und unter Budget abgeschlossen.
Die Bergbauaktivitäten wurden am 20. August 2024 wieder aufgenommen und während der Reparaturen fortgesetzt. Mit gelagertem Erz und überschüssiger Mahlanlage erwartet Titan, seine ursprüngliche Jahresproduktionsprognose von 56 bis 60 Millionen zahlbaren Pfund Zink zu erreichen. Der VP für Betrieb des Unternehmens, Joel Rheault, drückte sein Vertrauen aus, die Produktionsziele für das Jahr zu erreichen.
- Return to full commercial production at Empire State Mine
- Repairs completed ahead of schedule and under budget
- Maintaining full year production guidance of 56-60 million payable pounds of zinc
- Mining activities resumed quickly on August 20, 2024
- Excess milling capacity available to meet production targets
- Damage to electrical components of underground crusher level due to flooding
- Temporary disruption in production due to tropical Storm Debby
VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX:TI, OTCQB:TIMCF) (“Titan” or the “Company”) announces the return to full commercial production at the Empire State Mine in upstate New York. Historic flooding in upstate New York from tropical Storm Debby on August 10, 2024 caused damage to the electrical components of the underground crusher level. Repairs were completed ahead of schedule and under budget and the site is now in full operation.
Mining activities restarted on August 20, 2024 and continued during the crusher level repairs. The inventory of broken ore stockpiled in the underground, combined with normal ongoing production and the excess milling capacity, the Company expects to meet its original full year production guidance of 56 to 60 million payable pounds of zinc.
Joel Rheault, Vice President of Operations at Empire State Mines, commented, “Company personnel and external contractors worked safely and diligently to complete the repairs ahead of schedule and under cost estimates. We are pleased with the speed and quality of the repairs and with the stockpiled ore and excess milling capacity, we are confident that we can meet our production targets for the year.”
About Titan Mining Corporation
Titan is an Augusta Group company which produces zinc concentrate at its
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Cautionary Note Regarding Forward-Looking Information
Certain statements and information contained in this new release constitute "forward-looking statements", and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including that the Company expects to meet its original full year guidance of 56 to 60 million payable pounds of zinc and that we are confident that we can meet our production targets for the year. When used in this news release words such as “expects", and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. Such forward-looking statements are based on various assumptions, including assumptions made with regard to production ability for the remainder of the year, ability to secure adequate financing (as needed); the Company maintaining its current strategy and objectives; and the Company’s ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
FAQ
What caused the production disruption at Titan Mining's Empire State Mine?
When did Titan Mining (TIMCF) resume mining activities after the storm damage?
Has Titan Mining (TIMCF) changed its production guidance for 2024 due to the disruption?
How does Titan Mining plan to meet its production targets after the disruption?
