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Cerrado Gold Announces Q2 Gold Production Results For Its Minera Don Nicolas Mine In Argentina
Q2 2023 production of 12,453 Gold Equivalent Ounces ("GEO") Production for the quarter in li...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Announces Q2 Gold Production Results For Its Minera Don Nicolas Mine In ArgentinaQ2 2023 production of 12,453 Gold Equivalent Ounces (\"GEO\")Production for the quarter in line with expectationsLas Calandrias heap leach project - Mining activities commenced, with first gold pour completed in early July 2023LOM strategic plan continues to make good progressTORONTO, ON / ACCESSWIRE / July 19, 2023 / Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) (\"Cerrado\" or the \"Company\") announces production results for the second quarter of 2023 (\"Q2 2023\") from the Minera Don Nicolas Mine in Santa Cruz Province, Argentina (\"MDN\"). Full financial results are expected to be released in August 2023.Q2 Operating HighlightsQ2 2023 Gold production of 12,336 ounces and Gold Equivalent Ounce production of 12,453 ounces compared to 11,640 Geo ounces Q2 2022.GEO sales in Q2 of 11,195 ounces.Results continue to demonstrate stable mill throughput.Gold head grades 4.84 g/t and Gold Recoveries of 83.68% for the quarter.Operational results presented for Q2 2023 highlight the stability of the operations. Since Cerrado acquired the Minera Don Nicolas mine, it has continuously improved performance during the first two years. As seen in prior years, Q2 and Q3 results are expected to show some variability, given the seasonal challenges in the winter months and given the Company is still developing and implementing its Life of Mine (\"LOM\") strategy.Ore milled remained stable throughout the quarter, at above 1,000 tonnes per day. Production increases were driven primarily by ongoing efforts to reduce dilution and thus increase head grades, offset slightly by lower recoveries due to changes in ore type. Please see Table 1. for a summary of key highlights for the second quarter 2023. Sales for the quarter were lower than production, however, these sales should be recovered in the third quarter due to high-grade material entering the plant at the end of the quarter. Some challenges were experienced with recoveries, mainly for Chulengo, a high-grade deposit, but minor changes in operating strategies and throughput rates were found to be successful, and the operation stabilized with recoveries above 90% at the end of the quarter.Ongoing work to optimize mine sequencing and exploration work to upgrade and define new sources of resources remains the k...