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Cerrado Gold Announces Q4 and Annual 2024 Gold Production Results for its Minera Don Nicolas Mine in Argentina
Annual Gold Equivalent Ounce ("GEO") Production of 54,494 GEO; in line with Guidance of 50,000 - ...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Announces Q4 and Annual 2024 Gold Production Results for its Minera Don Nicolas Mine in ArgentinaAnnual Gold Equivalent Ounce (\"GEO\") Production of 54,494 GEO; in line with Guidance of 50,000 - 60,000 GEO.Q4 Production of 10,431 GEO impacted by lower than planned ore grades from residual open pits.Record Production of 5,956, GEO from Heap Leach operations during the quarter.Received Asset Sale and Option payments totaling $34 MM during the quarter, significantly strengthening the balance sheet.2025 Production Guidance of between 50,000-55,000 GEO.TORONTO, ON / ACCESSWIRE / January 15, 2025 / Cerrado Gold Inc. (TSXV:CERT)(OTCQX:CRDOF) (\"Cerrado\" or the \"Company\") announces production results for the fourth quarter ended December, 2024 (\"Q4 2024\") from the Minera Don Nicolas Mine in Santa Cruz Province, Argentina (\"MDN\"). Full fourth quarter financial results are expected to be released prior to April 30, 2025.Q4 Operating HighlightsQ4 Production of 10,431 GEO vs 16,604 GEO in Q3.Annual Sales of 51,694 GEO for 2024Production impacted by lower than planned feed grade to the CIL plant during the quarter as mining of high-grade pits nears completion.Studies to commence underground operations at Paloma in H2/25 initiated during the quarter.Focus remains on ramping up crushing capacity at Calandrias Sur and bringing heap leach production up to 4,000- 4,500 GEO per month by March 2025.While operational results for Q4 2024 demonstrated a decrease in production over the previous quarter, this was driven by lower than expected ore grades delivered from the final stages of mining of the older high grade open pits and stockpiles to feed the CIL plant as the Company's operations transition to a primarily heap leach operation in 2025. The heap leach operational performance continued to improve over the quarter, reaching record production levels as more ore was added to the pad. The performance of the heap leach continues to depend on the crushing circuit. An additional secondary crushing circuit is currently being installed to ensure excess capacity is in place to support the transition to a heap leach only facility. Once fully operational, the crushing capacity should allow for approximately 300,000 tonnes of ore to be placed on the pad per month. The installation of the secondary crusher is expected to reduce fleet and...