Cerrado Gold Inc. (TSXV: CERT | OTCQX: CRDOF) has announced it has initiated the leaching process at its initial heap leach project at the Las Calandrias area in Argentina.
Mining operations have reached a rate of approximately 10,000tpd, feeding the pad at a rate of 5,000tpd. Carbon loading has begun, and the first gold pour is expected by the end of this month.
The project is expected to provide additional gold production in Argentina during H2 2023. Las Calandrias as well as other heap leach projects are expected to help lower unit costs per oz by providing additional economies of scale, and the company expects to reach full production rates from Las Calandrias during Q3 this year.
The second successive heap leach project, Martinetas, is expected to begin construction later this year and begin production in 2024.
Additionally, in Brazil, the company is in the final stages of completing its feasibility study for the Monte Do Carmo (MDC) project in Tocantins, which is expected by the end of June.
The Installation licence is expected to be issued during Q3 of this year, allowing construction to commence thereafter. As such, the company has initiated a process to source project financing for the construction of MDC later in the year.
Mark Brennan, CEO and chairman commented “With Las Calandrias now ramping up, we expect to see continued production growth and lower costs in Argentina as we benefit from the economies of scale now being achieved.”
“In Brazil, preparations to begin construction at MDC towards the end of the year are well under way and we are working on bringing a funding solution together over the coming months.” Said Mr. Brennan.
To find out more, please visit www.cerradogold.com.
