Altaley Mining Corporation (TSXV:ATLY) shipped its first gold concentrate at the weekend.
The shipment was the culmination of 23 years of work by Founder, President and CEO, Ralph Shearing, who joined The Market Herald’s Sonia Madigan at PDAC to share his bullish views on the metals sector in the current inflationary environment.
The company operates two 100-per-cent owned projects in Mexico covering gold, zinc, lead and silver.
Altaley’s flagship Tahuehueto Project in Durango, Mexico will be one of the top 3 high-grade gold mines in the country once finalized. The company has invested over $30M to date between exploration, prefeasibility study and mine development. It is also constructing a 1,000 tpd processing plant as it ramps up to commercial production in late 2022, which has the potential to reach 3,000 tpd over the next five years.
It is also currently in commercial production at its Campo Morado Mine in Guerrero, which is processing over 2,000 tpd of zinc and lead concentrates in addition to gold, silver and copper. The project offers numerous quality exploration targets and will include a site for precious and base metal recoveries scheduled for sometime in mid-2023.