Canadian Timmins Gold Corp. (TSE:TMM) announced Tuesday a record gold output for its third quarter, ending September 30.
The Vancouver-based company produced 25,153 ounces of gold, and 13,857 ounces of silver from its San Francisco mine in Sonora, Mexico. This represents nearly 49% more than a year earlier.
The gold miner maintains its production target of 100,000 ounces of gold for the year.
"We would like to congratulate our President Arturo Bonillas and his operating team for achieving our target of 25,000 ounces for the quarter," said Timmins CEO, Bruce Bragagnolo.
"The strong operating quarter was the result of a number of incremental process improvements. Completion of Stage 2 of our crusher expansion is expected to take us to over 22,000 t/d in Q4, and crushing capacity is scheduled to reach over 30,000 t/d early in 2013 as we continue with our expansion program," he added.
The San Francisco gold mine is an open pit heap leach operation, with forecast production at a rate in excess of 100,000 ounces of gold per year.
Last month, the company said its ongoing drill program could lead to a “significant increase” in the mineral resources at its San Francisco mine, as well as to the discovery of additional satellite deposits.
The company said that drilling continues to extend and expand the mineralization at San Francisco, which is comprised of two pits, the larger San Francisco pit and the La Chicharra pit located approximately 1.5 kilometres to the west.