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Cerrado Gold initiates leaching at Las Calandrias, expects to see continued production growth in Argentina

Kitco Media
By Vladimir Basov
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(Kitco News) - Cerrado Gold (TSX.V: CERT) (OTCQX: CRDOF) announced on Thursday that the company has initiated the leaching process at its initial heap leach project at the Las Calandrias area in Argentina.

According to a company press release, mining operations have reached a rate of approximately 10,000 tpd, feeding the pad at a rate of 5,000 tpd. Carbon loading has begun and the first gold pour is expected by the end of this month.

Importantly, Cerrado said that Las Calandrias is expected to provide additional gold production in Argentina during the second half of this year, noting that Las Calandrias and additional heap leach projects are expected to help lower unit costs per ounce by providing additional economies of scale.

The company expects to reach full production rates from Las Calandrias during Q3 of this year.

Cerrado also reported that the company is in the final stages of completing its feasibility study for the Monte Do Carmo project in Tocantins, Brazil, which is expected by the end of June.

As previously announced, the installation license is expected to be issued during Q3 of this year, allowing construction to commence thereafter. As such, the company said it has initiated a process to source project financing for the construction of the Monte Do Carmo project later in the year.

CEO and Chairman Mark Brennan commented, “With Las Calandrias now ramping up, we expect to see continued production growth and lower costs in Argentina as we benefit from the economies of scale now being achieved. In Brazil, preparations to begin construction at MDC towards the end of the year are well under way and we are working on bringing a funding solution together over the coming months.”

Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects in South America. The company is the 100% owner of both the producing Minera Don Nicolás mine in Santa Cruz province, Argentina, and the prospective Monte Do Carmo development project, located in Tocantins State, Brazil.

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Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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