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Soma Gold sets new monthly gold production record in Colombia

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(Kitco News) - Soma Gold (TSXV: SOMA) announced Tuesday that gold production at the company’s El Bagre mine in Colombia has set a new monthly record with 2,383 AuEq ounces produced and sold during May.

The company said that year-to-date 2022 production through the end of May is 9% ahead of the 2022 plan and 33% ahead of 2021 production.

Soma also announced that construction of the Cordero mine is only several weeks away from reaching Level 5 of the planned 6 Levels and that stopes on Levels 2 and 3 are now in production.

Additional development is underway on Levels 4 and 5, and new production stopes will be opened in the coming months. The company expects the construction phase of the Cordero mine, which is being built by outside contractors, to complete in Q4 2022.

The company added that once the construction phase is completed, daily mine production from all mines is expected to increase to 700 tpd, allowing the restart of the El Limon mill.

Soma Gold is a mining company focused on gold production and exploration. The company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd (permitted for 1,400 tpd). The El Bagre mill is currently operating and producing.

The company noted that internally generated funds are being used to finance a regional exploration program. 

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