18:35:29 EDT Sun 11 Apr 2021
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Gatos Silver Inc
Symbol GATO
Shares Issued 59,183,076
Close 2021-02-18 C$ 16.89
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Gatos Silver's power restricted due to Texas conditions

2021-02-19 09:04 ET - News Release

Mr. Adam Dubas reports


Gatos Silver Inc. says power from Mexico's national power grid has been restricted due to the recent severe winter storms in Texas. Northern Mexico is highly dependent upon natural gas from Texas to generate power. Freezing temperatures in Texas compounded by increased energy demands for heating have resulted in U.S. natural gas producers curtailing delivery to Mexico. Accordingly, Cerro Los Gatos' power allocation from Mexico's electric power grid has been temporarily restricted.

The CLG project was designed to allow the mine and processing plant to operate independently. The project has diesel-powered generators with sufficient capacity to maintain power to the residential camp, surface administrative facilities and the underground mine but not the processing plant. Underground mining will continue at a reduced rate with mined ore placed on the surface ore storage stockpile. A planned shutdown for processing plant maintenance will be accelerated and completed during this temporary power restriction.

About Gatos Silver Inc.

Gatos Silver is a silver-dominant exploration, development and production company that discovered a new silver and zinc-rich mineral district in southern Chihuahua state, Mexico. To date, 14 zones of mineralization have been defined within the district and all are characterized by silver-zinc-lead epithermal mineralization. More than 85 per cent of the approximately 103,087-hectare mineral rights package has yet to be drilled, representing a highly prospective and underexplored district. The company recently built and commissioned its first operating mine and mineral processing plant at the Cerro Los Gatos deposit, which is expected to produce 12.2 million silver equivalent ounces annually.

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