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Patagonia Gold First Quarter 2025 Financial Results
VANCOUVER, British Columbia, May 30, 2025 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patag...
About this update from Patagonia Gold Corp
[{"type":"text","content":"Patagonia Gold First Quarter 2025 Financial Results\n\n\n\n VANCOUVER, British Columbia, May 30, 2025 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. (“Patagonia” or the “Company”) (TSXV: PGDC) announces its financial results for the quarter ended March 31, 2025 (“Q1 2025”). The financial statements together with the related management’s discussion and analysis are available on the Company’s website and under the Company’s profile on SEDAR+ at\n \n www.sedarplus.ca\n \n .\n \n\n\n\n Highlights\n \n\n\n\n\n Generated revenue of US$1.2 million in Q1 2025.\n \n\n Produced 613 gold equivalent ounces\n \n (\n \n\n 1)\n \n and sold 418 gold equivalent ounces\n \n (\n \n\n 1)\n \n in Q1 2025.\n \n\n Incurred exploration expenditures of US$0.5 million in Q1 2025 including completion of:\n \n\n A total of 380 meters were drilled in 8 diamond drill holes at Calcatreu, specifically in the Piche Sur, Nelson Sur and Belen W targets - all of which are deemed to have mineral resource expansion potential.\n \n\n A total of 366.1 line-kilometers of geophysics was carried out on the target Masqui in the south of the main Calcatreu block.\n \n\n At La Valenciana, in the province of Santa Cruz, a total of 66 line-kilometers of ground magnetics surveying was completed and a total of 63 rock chip samples were collected from the Veta Principal during Q1 2025.\n \n\n A total of 401.9 line-kilometers of ground magnetics surveying was completed at La Josefina.\n \n\n\n\n The Company has commenced construction of the Company’s Calcatreu heap leach facility in Rio Negro during Q1 2025. Completion of construction of Calcatreu is targeted for Q4 2025 with first leaching before the end of 2025.\n \n\n\n\n\n Notes\n \n :\n \n\n\n\n (1)\n \n\n\n Consisting of 387 gold and 21,060 silver ounces of production and 252 gold and 14,978 silver ounces sold, converted to a gold equivalent using a ratio of the average spot market price for the commodities each period. The ratio for three months ended March 31, 2025 was 90.05:1 (2024 – 88.70:1).\n \n\n\n\n\n Qualified Person’s Statement\n \n\n\n\n Donald J. Birak, an independent consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific ...