Marlin Gold Mining Ltd. (“Marlin” or the “Company”) (TSX VENTURE:MLN) is extremely pleased to announce that it has commenced mining at the high grade HS Zone at its wholly owned La Trinidad mine in Sinaloa, Mexico (“La Trinidad”). The past one and a half years of commercial mining has been in preparation for this milestone, and over the course of the next weeks and months, La Trinidad will transition from being a high cost operation to become one of the lowest cost gold mines in the world.
Additionally, Marlin has completed an exploration program at La Trinidad. New drill intersections described below focused on the south side of the Taunus pit. Last year, Management deferred mining activities towards the south so that the Company could reach the high grade HS zone on an accelerated basis; as a result of this decision, the Company incurred $22.6 million in aggregate write-downs during 2015 as approximately 40,000 ounces were removed from the La Trinidad mine plan. Given the successful drill campaign on the south side of the deposit, the Company has recommenced mining on the south side of the Taunus pit. An updated life of mine plan is being engineered, and Management believes that there is a high likelihood that some, if not all, of the previously sustained write downs will be written back up over the course of 2016.