September 1, 2021
Tarachi was created with the goal of becoming a producing precious metals explorer. Providing our investors with exposure to the upside potential of resource discovery while protecting them from dilution and market cycles by self-funding our future exploration programs.
Year-to-date, the Tarachi team has been pursuing these goals in a manner that puts environmental protection and the needs of local stakeholders front and centre. As a company born during a global pandemic, Tarachi has always prioritized COVID-19 safety protocols at all our operations. We strive to ensure not only the safety of our own staff and contractors, but also that of the smaller communities in which our teams work.
Since our acquisition of the Magistral Mill and Tailings Project at the beginning 2021, we have been aggressively pursuing a path to production. With a PEA from Ausenco Engineering nearing completion we continue to target the first half of 2022 to begin commissioning the facility. Not only does Magistral represent a means to generate positive cashflow for Tarachi but also presents a genuine opportunity to improve the health of the local environment and lives of community members.
As a tailings reprocessing operation, the Magistral project will see the excavation of unconfined tailings material, some of it more than 100 years old, that has sat openly on the land adjacent to a residential community. This material has posed a risk to the local people as tailings wash towards the community and surface water resources during times of heavy rain. During operations, Tarachi plans to excavate this material, reprocess it to recover precious metals, and deposit the tailings in a lined and permitted tailings storage facility. There are few mining projects in the world that can claim they will leave the land in better shape than when they arrived. That is something we are very proud of at Tarachi.
Looking beyond Magistral, we are eager to get back to exploring our exciting mining concessions in Sonora, Mexico and our management team will continue to pursue value-accretive projects in the Americas.
President & CEO