PRECIOUS METALS

1911 starts annual tailings reprocessing

1991 Gold has begun annual tailings reprocessing operations at its True North gold complex at Bissett, Manitoba, and expects to process between 170,000 and 190,000 tonnes of historical tailings this year to recover about 3,500 to 4,000 ounces of gold.

 1911's True North

1911's True North

The company also was approved a C$300,000 (US$231,219) grant from the Manitoba Mineral Development Fund to support the restart of the tailings operations.

"Work completed early in 2022 will increase the efficiency of our operations this year and maximize gold production," 1911's president and CEO Shaun Heinrichs said.

The seasonal operation usually runs from April to November. In 2018, 2019, and 2020, gold recoveries stood at 5,906oz, 5,653oz, and 4,746oz, respectively.

1911's share price was up 3% day on day at C$0.17 on June 24. The company has a market capitalization of C$11.6 million.

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