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Cerrado Gold Reports First Quarter Results Highlighting Improved Operational Performance at Minera Don Nicolas Despite Ongoing Restrictions, and Strong Exploration Results at Serra Alta and Minera Don Nicolas to Expand Resources
Toronto, Ontario--(Newsfile Corp. - May 28, 2021) - Cerrado Gold Inc.  (TSXV: CERT) ("Ce...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Reports First Quarter Results Highlighting Improved Operational Performance at Minera Don Nicolas Despite Ongoing Restrictions, and Strong Exploration Results at Serra Alta and Minera Don Nicolas to Expand ResourcesToronto, Ontario--(Newsfile Corp. - May 28, 2021) - Cerrado Gold Inc. (TSXV: CERT) (\"Cerrado\" or the \"Company\") is pleased to announce its operational and financial results for the first quarter of 2021 (\"Q1/21\"). These financial results are reported and available on SEDAR as well as on the company website (www.cerradogold.com).Q1 Operational HighlightsGold production reported at 7,485 ounces for Q1 2021, a 45% improvement over Q4/20 production of 5,168 ouncesMonthly gold production has continuously increased since Cerrado acquired Minera Don Nicolas, highlighted with 3,105 ounces produced in March 2021, an 18% improvement from management expectationsTotal cash costs of $1,363/Au oz sold, a decrease of 18% from the previous quarterMine AISC of $1,747/Au oz sold, a 9% reduction from Q4/20Net loss of $5.67 million and basic and diluted loss per share of $0.10Exploration HighlightsIn Brazil, the 17,000 metre Phase 1 drill program at Monte Do Carmo to expand the overall resource base at the Serra Alta deposit supporting rapid resource expansion Initial near mine exploration work demonstrates strong potential to quickly add resources that can be to mine plan at Minera Don NicolasRegional Exploration activities on the over 400,000 ha property in Argentina has commenced with initial targeting of the Michelle and Chispas areasCorporate HighlightsCompleted our go public transaction to list on the TSXVRaised CAD$15 million to fund exploration Acquired Minera Mariana in Argentina to add additional resources to support long term growth opportunities (All dollar amounts are in U.S. dollars (\"$\") unless otherwise specified)First quarter 2021 results represent Cerrado Gold's first quarterly results as a public company. Exploration efforts in both Brazil and Argentina continue to progress very positively with regular drill results released over the quarter. Mining operations at Minera Don Nicolas (\"MDN\") have continued to undergo continuous operational improvements implemented since the acquisition of the mine just a year ago (March 2020). Despite severe ongoing COVID restrictions in Argentina, the Company...