Cerrado Gold Inc. (TSX-V: CERT | OTCQX: CRDOF) has announced production results for the first quarter of 2022 from its Minera Don Nicolas Mine in Santa Cruz Province, Argentina.
13,499 gold equivalent ounces (GEO) were produced during the first quarter of 2022, in line with the company’s targeted 50,000oz of GEO production for 2022. An average grade of 4.68g/t was also achieved in Q1 2022.
Cerrado’s mining team reportedly experienced some setbacks due to availability of explosives and parts for vehicle maintenance but continues to meet its production targets. Numerous operational improvements implemented at Cerrado’s processing plant and consistently strong head grades have ensured a sustained production of approximately ~4,000oz per month, in line with stated guidance for 2022. The company has also formally affirmed its production guidance for the year of 45,000- 55,000 GEOs at a AISC of US$1,100-US$1,300/oz.
Mark Brennan, CEO and Co-Chairman commented “The numerous operational improvements implemented by the team have resulted in a more sustainable and predictive production profile for MDN. We continue to expect consistency in the results from the Minera Don Nicolas operation despite a continued challenging operating environment. The core focus at MDN for 2022 will be on cost cuts, the development of the heap leach operations at Calandria and extension of life of mine resources. Solid and growing production from Argentina and progress with the feasibility at MDC in Brazil puts us on track for rapid production growth in the coming years”.
During the quarter, the company continued to pursue its exploration activities at the Paloma underground, is now ready to drill at its Michelle property and progress works on its Calandrias heap leach project. At the company’s Monte do Carmo project in Brazil, Cerrado report that the infill campaign is progressing well and a new exploration target, Gogo has been added to the programme.
The company expects to release its full financial results by the end of June.
For further information please visit: https://www.cerradogold.com/
