Optimization Opportunities to be incorporated into the Mont Sorcier Feasibility, resulting in an extended completion date.
Key Optimization Focus Areas Include:
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Enhanced Mine plan to reduce Overall Strip Ratio
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Tailing Dam Construction
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CAPEX and OPEX review in light of Ongoing Regional Inflation
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Trade-off in Concentrate Quality vs Premium Price
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Modest Drill Program set for late Q3 to Enhance Mine Plan by Upgrading additional Resources
TORONTO, July 15, 2026 (GLOBE NEWSWIRE) -- Cerrado Gold Inc. [TSX.V: CERT] [OTCQX: CRDOF] ("Cerrado" or the "Company") announces that it has elected to extend the completion date of the Bankable Feasibility Study at its Mont Sorcier high grade iron project, led by Voyager Metals, a 100% owned subsidiary of Cerrado Gold, to review numerous optimization and trade off opportunities that have been identified during the BFS process as having the potential to materially enhance the overall value of the project.
Mark Brennan, CEO and Chairman, commented, "We believe that this is the right course of action and are confident that the opportunities identified will have a material impact on the value of the project. Furthermore, the optimization program is not expected to materially impact the overall project timeline, which is driven by the Environmental and Social Impact Assessment submission date, which we now expect will be submitted in Q2/27 as a result of these changes."
Mont Sorcier Feasibility Updated Timeline
During recent quarters, work has continued to advance the Bankable Feasibility Study ("BFS") for the Company's high-grade Mont Sorcier iron project. As the BFS has progressed, the Company has identified several opportunities to further optimize project economics and reduce both capital and operating costs, despite ongoing industry-wide inflation. A number of trade-off studies are expected to be completed to evaluate and capture these improvements.
The most significant opportunity to enhance the project has emerged from the ongoing mine planning process. An opportunity to enhance the overall mine plan and lower costs has been identified through a conversion of a modest amount of currently Inferred Resources to Measured Resources within a defined area to the east of the current planned pit. The material in this region is expected to be shallower and should materially reduce stripping and tailings management costs over the life of mine. The Company will undertake a small, targeted definition drill program in Q3/26 so that any resources which may be converted from inferred to measured may be incorporated into the optimized mine plan. Given the potential and material positive impact on project economics, the Company has determined that this should be incorporated into the BFS in order to deliver an optimal mining operation.