{"id":439749,"date":"2021-02-19T07:03:18","date_gmt":"2021-02-19T12:03:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=439749"},"modified":"2021-02-19T07:03:18","modified_gmt":"2021-02-19T12:03:18","slug":"gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/","title":{"rendered":"Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos<\/b><\/p>\n<p>DENVER&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nGatos Silver, Inc. (NYSE\/TSX: GATO) (\u201cGatos Silver\u201d or the \u201cCompany\u201d) reports that power from Mexico\u2019s 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\u2019 (\u201cCLG\u201d) power allocation from Mexico\u2019s electric power grid has been temporarily restricted.\n<\/p>\n<p>\nThe 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.\n<\/p>\n<p><b>About Gatos Silver<\/b><\/p>\n<p>\nGatos 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% 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.\n<\/p>\n<p><b>Forward-Looking Statements <\/b><\/p>\n<p>\nThis press release contains statements that constitute \u201cforward-looking information\u201d and \u201cforward-looking statements\u201d within the meaning of U.S. and Canadian securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding the expected average annual production are forward-looking statements. Forward-looking statements are based on management\u2019s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors described in our filings with the U.S. Securities and Exchange Commission and Canadian securities commissions. Certain forward-looking statements are based on assumptions, qualifications and procedures which are set out only in the technical report entitled \u201cLos Gatos Project, Chihuahua, Mexico,\u201d dated July, 2020 with an effective date of July 1, 2020 (the \u201cLos Gatos Technical Report\u201d) filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Scientific and technical disclosures in this press release were approved by Philip Pyle, Vice President of Exploration and Chief Geologist of Gatos Silver who is a \u201cQualified Person,\u201d as defined in National Instrument 43-101 \u2013 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. For a complete description of assumptions, qualifications and procedures associated with such information, reference should be made to the full text of the Los Gatos Technical Report. Gatos Silver expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions, or circumstances on which such statements are based unless required to do so by applicable law. No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this press release.\n<\/p>\n<p><b>Availability of Other Information About Gatos Silver<\/b><\/p>\n<p>\nInvestors and others should note that Gatos Silver communicates with its investors and the public using its company website (<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fgatossilver.com%2F&amp;esheet=52381602&amp;newsitemid=20210219005022&amp;lan=en-US&amp;anchor=https%3A%2F%2Fgatossilver.com%2F&amp;index=1&amp;md5=da658e3f2fabc56e7b9854114f36cc6e\">https:\/\/gatossilver.com\/<\/a>) as well as other channels, including but not limited to presentations, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information Gatos Silver communicates through these channels could be deemed to be material information. As a result, Gatos Silver encourages investors and others interested in Gatos Silver to review the information it disseminates through these channels on a regular basis. The contents of Gatos Silver&#8217;s website or other channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210219005022r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210219005022\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210219005022\/en\/<\/a><\/span><\/p>\n<p><b>Investors and Media Contact<br \/>\n<\/b><br \/>Adam Dubas<br \/>\n<br \/>Chief Administrative Officer<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@gatossilver.com\">investors@gatossilver.com<br \/>\n<\/a><br \/>(303) 784-5350\n<\/p>\n<p><b>KEYWORDS:<\/b> Mexico United States Central America North America Colorado<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Mining\/Minerals Natural Resources<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210219005022\/en\/834104\/3\/SSM-0016_Gatos_Silver_Final_CMYK.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos DENVER&#8211;(BUSINESS WIRE)&#8211; Gatos Silver, Inc. (NYSE\/TSX: GATO) (\u201cGatos Silver\u201d or the \u201cCompany\u201d) reports that power from Mexico\u2019s 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\u2019 (\u201cCLG\u201d) power allocation from Mexico\u2019s 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-439749","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos DENVER&#8211;(BUSINESS WIRE)&#8211; Gatos Silver, Inc. (NYSE\/TSX: GATO) (\u201cGatos Silver\u201d or the \u201cCompany\u201d) reports that power from Mexico\u2019s 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\u2019 (\u201cCLG\u201d) power allocation from Mexico\u2019s electric power grid has been temporarily restricted. The CLG project was designed to allow the mine and processing plant to operate independently. 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(NYSE\/TSX: GATO) (\u201cGatos Silver\u201d or the \u201cCompany\u201d) reports that power from Mexico\u2019s 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\u2019 (\u201cCLG\u201d) power allocation from Mexico\u2019s 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 &hellip; Continue reading \"Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/","og_site_name":"Market Newsdesk","article_published_time":"2021-02-19T12:03:18+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210219005022r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos","datePublished":"2021-02-19T12:03:18+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/"},"wordCount":765,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210219005022r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/gatos-silver-provides-update-on-temporary-power-restriction-at-cerro-los-gatos\/","name":"Gatos Silver Provides Update on Temporary Power Restriction at Cerro Los Gatos - 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