March 14, 2012 / 11:23 AM / 5 years ago

UPDATE 1-Timmins raises resource estimate at Mexico mine

March 14 (Reuters) - Canadian miner Timmins Gold Corp raised its estimate of total measured and indicated resources at its San Francisco gold mine in Mexico by about 9 percent.

The updated estimate for the San Francisco project, which includes the nearby La Chicharra open pit, was raised by 134,000 contained gold ounces to 1,575,000 contained gold ounces, the company said.

"...the updated resources continue to show that the San Francisco mine life will most certainly expand again beyond its current level," Chief Executive Bruce Bragagnolo said in a statement.

The company had earlier estimated the life of the project at 10 years.

Timmins shares closed at C$2.56 on Tuesday on the Toronto Stock Exchange.

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