Marlin Gold Mining Ltd. (TSX VENTURE:MLN) (“Marlin“) announces that it has entered into an agreement with the underlying property owners at the Commonwealth Project in Cochise County, AZ to extend the final US$4.5 million payment due January 2016. Marlin has paid US$250,000 of the US$4.5 million due in January and has paid a further US$127,500 to extend the final balance due to July 2016.
La Trinidad Update
Marlin is currently working through waste removal as part of the pit optimization announced in June 2015. There are currently approximately 4.3 million tonnes of waste needed to be removed before material from the high grade HS Zone will be mined. In order to remove this material during the second quarter of 2016, Marlin will need to supplement its mining fleet. Marlin is in the late stages of finalizing an updated mining contract, which will allow mining rates in excess of 1.5 million tonnes per month at per unit costs below the existing contract.