- The first ore has been placed on the pad.Leaching is expected to begin within 10 days
- Gold production is scheduled for early June
TORONTO, ON / ACCESSWIRE / April 27, 2023 / Cerrado Gold Inc. (TSXV:CERT) (OTCQX:CRDOF) (“Cerrado” or “Company”) is pleased to announce that it has begun loading ore into the heap leeching pad for its first heap leech project in Las Calandrias, Santa Cruz, Argentina. The company expects the first gold pours to begin in early June, with leaching beginning in the next 7-10 days.
As previously announced, the Las Calandrias project will add 25,000 ounces of annual gold production capacity beginning in June of this year. Las Calandrias is the first of two heap-reach projects slated to begin this year to increase overall gold production from Cerrado’s Argentinian operations. His second heap reach, expected at Martinetas, will be built later this year, with production starting in early 2024, and he will have an additional 20,000 ounces of production capacity.
In addition, production from the two Heap Reach projects is expected to reduce total maintenance costs and enhance cash flow through increased ounces and lower fixed costs per ounce produced in Argentina.
Photo: Ore being loaded into the heap reach pad
CEO and Chairman Mark Brennan commented: as future underground development and exploration efforts expected to expand the resource base for both heap reach and CIL production. “
About Cerrado
Cerrado Gold is a Toronto-based gold production, development and exploration company focused on South American gold projects. The company is 100% owner of the Minera Don Nicolás mine in the province of Santa Cruz, Argentina, and in Brazil he also owns the highly promising Monte Do Carmo development project in the province of Tocantins.
At Minera Don Nicolas, Cerrado maximizes asset value through continuous operational optimization and further production expansion. A large-scale exploration campaign is underway to unlock further potential resources on the highly promising land package in the heart of Deseado Masiff.
In Monte do Carmo, the Cerrado is rapidly advancing the Serra Alta deposit into production through feasibility. Serra Alta is a vast and very promising land package of 82,542 hectares and is expected to be a high-margin, high-revenue project with significant exploration potential.
For more information on Cerrado, please visit: www.cerradogold.com.
For more information, please contact:
Mark Brennan | Mike McAllister |
representative | Vice President of Investor Relations |
Phone: +1-647-796-0023 | Phone: +1-647-805-5662 |
This email address is being protected from spambots. JavaScript must be enabled to view. | This email address is being protected from spambots. JavaScript must be enabled to view. |
Disclaimer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDERS (AS THAT TERM IS DEFINED IN THE TSX VENTURE EXCHANGE POLICY) ARE RESPONSIBLE FOR THE SUITABILITY OR ACCURACY OF THIS RELEASE.
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Statements discussing predictions, expectations, beliefs, plans, forecasts, objectives, assumptions, future events, or performance (phrases such as “expect,” “do not expect,” “expect,” “predict,” etc. are always or “does not predict”, “planned”, “budgeted”, “intended”, “forecast”, “estimate”, “believe”, “intend”, or any such words or Variations of phrases or “could” or “could”, “could”, “could”, or “could” stating a particular action, event, or outcome may be forward-looking statements rather than statements of historical fact.
Forward-looking statements contained in this press release include, but are not limited to, statements regarding Cerrado’s business and operations. In making the forward-looking statements contained in this press release, Cerrado has disclosed the start date of the leaching at Las Calandrias, the potential for further growth from the Martinetas Project, underground development and exploration, and capacity We make certain assumptions, including but not limited to: Grow your resource base. Although Cerrado believes that the expectations reflected in its forward-looking statements are reasonable, there can be no assurance that the expectations in the forward-looking statements will prove correct. Known and unknown risks, uncertainties and other factors that could cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, general business, economic, competitive, political and social uncertainties. Readers should therefore not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Celado does not make forward-looking statements to reflect actual results as a result of new information, future events, changes in assumptions or changes in factors affecting such forward-looking statements. disclaims any intention, and assumes no obligation, to update or revise any statements relating to Looking for a statement or other.
