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Rio2 Provides Fenix Gold Mine Q3 2025 Construction Update
VANCOUVER, British Columbia, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Rio2 Limited (“ Rio2 &#...
About this update from Rio2 Limited
[{"type":"text","content":"Rio2 Provides Fenix Gold Mine Q3 2025 Construction Update\n\n\n\n VANCOUVER, British Columbia, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Rio2 Limited (“\n \n Rio2\n \n ” or “\n \n the Company\n \n ”) (TSX: RIO; OTCQX: RIOFF; BVL: RIO) today provides an update on progress made at Rio2’s 100% owned Fenix Gold Project (“\n \n Fenix Gold”\n \n or\n \n “the\n \n\n Project\n \n ”) currently under construction in the Atacama Region, Chile. At the end of Q3 2025, construction was\n \n 63%\n \n complete and remains on track and on budget for first gold production in January 2026.\n \n\n Construction highlights for the eleven-month period from November 1, 2024, to 30 September 2025, are as follows, with all amounts expressed in US dollars:\n \n\n\n Health & Safety\n \n – A total of 1,865,791 person-hours have been worked on the Project to date, with 3 Lost Time Incidents recorded (a finger injury in Q1, a dislocated ankle and a Back Strain in Q3), resulting in a Lost Time Incident Frequency Rate (LTIFR) of 1.61. The Total Incident Frequency Rate (TIFR) for the Project as of September 30, 2025, was 8.58.\n \n\n\n Budget\n \n – Total spend to date since November 2024 of $86.7 million for works completed, vs budget of $86.6 million. These costs exclude corporate overheads and pre-construction costs expended in 2022.\n \n\n\n Schedule\n \n – Total Project is currently 63% complete, and we expect to achieve first gold production in January 2026. All long lead time procurement items are in hand.\n \n\n\n Construction Progress\n \n\n\n As of the end of Q3, 12.7 hectares of geosynthetics were installed on the leach pad. This area guarantees a leach pad for six months of production capacity. Leach pad construction recommenced in October 2025, with an additional 10 hectares of leach pad capacity expected to be delivered by the end of the year.\n \n\n We have placed approximately 22,000 m3 of overliner material on the leach pad, covering approximately 8.5 hectares of geosynthetic material ready to receive mineral.\n \n\n Mining of ore from haul road excavation work from Fenix Central and Fenix South stater pit area began in August and continues, with 87,000 tonnes of ore placed onto the leach pad, during Q3, with an average gold grade of 0.45 g/t, equating...