Business
Cerrado Gold Reports Record Q3 Production Results from Its Minera Don Nicolas Mine in Argentina
Q3 and year to date production and operations results remains well ahead of plan Gold Equ...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Reports Record Q3 Production Results from Its Minera Don Nicolas Mine in ArgentinaQ3 and year to date production and operations results remains well ahead of planGold Equivalent ounces produced for the 3rd quarter exceeds 10,000 ouncesToronto, Ontario--(Newsfile Corp. - October 18, 2021) - Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF) (\"Cerrado\" or the \"Company\") is pleased to announce its production results for the third quarter of 2021 (\"Q3 2021\") from the Minera Don Nicolas Mine in Santa Cruz Province, Argentina. Full financial results are to be released by the end of November. Q3 Operating HighlightsProduction of Gold Equivalent ounces (\"GEO\") was 10,549 ounces for Q3 2021, an 6% increase over Q2 2021 GEO production of 9,934 ounces. Management continues to target exit year production at a run rate in excess of 50,000 ounces per annum.Since Cerrado acquired Minera Don Nicolas, gold production has seen a steady month over month increase, highlighted by 4,545 geo ounces produced in August 2021, a 30% improvement over 3,505 geo ounces produced in June 2021 the previous best month since Cerrado has taken ownership. Q3 Gold production represents a record for Minera Don Nicolas since start up. The strong operational performance is the result of continuous improvement by the onsite team. The mining team has exceeded ore production and Au grade targets consistently year to date. Operational improvements around the processing plant have ensured an increase of approximately 20% on mill design throughput capacity on a sustained basis.Mark Brennan, CEO and Co-Chairman commented, \"We are extremely pleased to have achieved a new record of quarterly gold production which reflects the tremendous efforts from the Don Nicolas team despite a still very challenging COVID environment.\" He continued, \"Ongoing quarterly improvements continue to support our view that we should achieve our production expectations of 45- 55,000 ounces Au annually on a sustained basis. Once again we would like to commend the MDN team as a whole for the strong performance they have been delivering in an exceptionally difficult environment; it gives us strong confidence that there is plenty of growth moving forward, especially once restrictions imposed by COVID are removed.\"Minera Don Nicolas has been operating its on site fire assay laboratory i...