Business
Cerrado Gold Reports Strong First Quarter Production Results from Its Minera Don Nicolas Gold Mine in Argentina
Q1 2022 production of 13,499 Gold Equivalent Ounces Target Gold Production Rate stabiliz...
About this update from Cerrado Gold Inc
[{"type":"text","content":"Cerrado Gold Reports Strong First Quarter Production Results from Its Minera Don Nicolas Gold Mine in ArgentinaQ1 2022 production of 13,499 Gold Equivalent Ounces Target Gold Production Rate stabilized at over 50,000 ounces per annumToronto, Ontario--(Newsfile Corp. - May 5, 2022) - Cerrado Gold Inc. (TSXV: CERT) (OTCQX: CRDOF) (\"Cerrado\" or the \"Company\") is pleased to announce its production results for the first quarter of 2022 (\"Q1 2022\") from the Minera Don Nicolas Mine in Santa Cruz Province, Argentina (\"MDN\"). Full financial results are to be released in by the end of June. Q1 Operating Highlights13,499 Gold Equivalent Ounces (\"GEO\") produced for Q1 2022, in line with targeted 50,000 ounces of GEO production for 2022 2nd consecutive quarter of \"normalized\" production despite continued operating challengesExceptional average grade of 4.68 g/t achieved in Q1 2022The continued strong operational performance seen in Q1 2022 follows our record quarterly production in Q4 2021. The mining team experienced some setbacks due to availability of explosives and parts for vehicle maintenance but continues to meet its production targets. The numerous operational improvements implemented at the processing plant as well as consistently good head grades have ensured a sustained production of approximately ~4,000 o per month, in line with stated guidance for 2022.The Company would also like to formally affirm its production guidance for the year of 45,000-55,000 GEOs at a AISC of US$1,100-US$1,300 per ounce.Mark Brennan, CEO and Co-Chairman, commented, \"The numerous operational improvements implemented by the team have resulted in a more sustainable and predictive production profile for MDN. We continue to expect consistency in the results from the Minera Don Nicolas operation despite a continued challenging operating environment. The core focus at MDN for 2022 will be on cost cuts, the development of the heap leach operations at Calandria and extension of life of mine resources. Solid and growing production from Argentina and progress with the feasibility at MDC in Brazil puts us on track for rapid production growth in the coming years.\" Please see below table for a summary of key highlights from Q1 2022 and all four quarters of 2021. Full financial results are to be released by June 30, 2022.Key Operating Information &...