BOCA RATON, Fla.--(BUSINESS WIRE)--New World Gold Corporation (OTC Pink: NWGC) a gold mining and milling company with existing operations in Ecuador and Peru is pleased to announce its Zumba Project is ready to begin production. The initial daily production will be 40 Tons of ore per day with a head grade of 4.0 grms of gold per ton. This will produce 160 grm (5.2 Ozs) of gold per day. Initial monthly production will be 4000 grms (130 ozs) of gold per month generating cash flow of $162,500 per month. Within 90 days from initial production, the daily production will be 80 tons of ore per day with an average head grade of 4.0 grms per ton. This will generate 320 grms (10.3ozs) of gold per day, and cash flow of $321,875 per month.
The ultimate production level for the Zumba project is expected to be 125 tons of ore per day with an average head grade of 4.0 grms of gold per ton. This will generate 150,000grms (4800 ozs) of gold per year. The Company believes that it can maintain this production rate for a minimum of 7 years based on current reserves. The Company expects to increase reserves.
New World Gold Corporation trades in the United States on the OTC Pink under the symbol “NWGC.” For further information, please contact the Company at (561) 210-8496 or www.newworldgoldcorp.com or investors can find real time quotes and market information for the Company on www.otcmarkets.com.
NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause results, expressed or implied to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and New World Gold's ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. New World Gold is not obligated to publicly release revisions to any forward-looking statements to reflect events or circumstances afterward or to disclose unanticipated occurrences except as required under applicable law.