October 5, 2017, Vancouver, BC – Alio Gold Inc (TSX, NYSE MKT: ALO) (“Alio Gold” or the “Company”), announces preliminary production results from its 100% owned San Francisco Mine in Sonora, Mexico for the Company’s third quarter (“Q3”) ended September 30, 2017. The Company expects to release its full Q3 2017 results on November 9, 2017 and will host a conference call that same day (details at the end of this release).
Third Quarter 2017 Highlights
- Produced 19,429 ounces of gold
- Maintained Q4 2017 guidance at 20,000 to 22,000 ounces of gold
- Reiterated full year 2017 guidance with range tightened to between 88,000 to 90,000 ounces
- Strengthened balance sheet with $68.5 million cash at September 30, 2017
“Production at the San Francisco mine for Q3 and the nine months ended September 30 was 19,429 ounces and 67,488 ounces, respectively,” said Greg McCunn, Chief Executive Officer. “The third quarter was expected to be the most challenging period in the 2017 mine plan as we finished mining Phase 1 of the La Chicharra pit and had not fully completed the stripping of Phase 5 of the San Francisco Main pit. However, we did manage to source alternative ore to keep the crushers full and have now opened Phase 5. In addition, a second mining contractor has been mobilized to commence the pre-stripping of Phase 2 of the La Chicharra pit giving us more mining flexibility and capacity heading into 2018. Looking ahead, we remain on track to achieve our annual gold production guidance and have tightened the range to between 88,000 to 90,000 ounces.