Cerrado Gold – Operations Update From Producing Minera Don Nicolas Gold Mine In Argentina, And Pending Feasibility Study For The Monte Do Carmo Development Project In Brazil
Mark Brennan, Founder, CEO, and Director of Cerrado Gold Inc (TSX.V: CERT) (OTCQX: CRDOF), joins us for a comprehensive overview of this relatively new growth-oriented gold producer and developer operating in Brazil and Argentina. We start off with the producing Minera Don Nicolas gold mine in Argentina, where the Las Calandrias area was just brought into the production mix, and where both the Martinetas pit and Phase 1 Underground program, under the Paloma Pit, will be feeding into growing production next year. The Company has grown production from Argentina operations the last 3 years in a row, with 2023 guidance in the 60,000-70,000 ounce range, and 2024 guidance in the 80,000-90,000 ounce range.
We then dig in to the project details for the large gold development Project, Monte do Carmo, in Brazil, which will have a new Feasibility Study released to the market later in Q3, that takes into account more optimization and better economics. Based on prior work the team is fairly constructive on around a 100,000 ounce per annum production profile with lowest quartile costs. This should help to essentially double the production profile of the company up closer to 200,000 ounces per year from 2025 and beyond, graduate them to a multi-mine and multi-jurisdiction mid-tier producer over the next few years.
Both projects have substantial exploration upside along their mineralized trends to keep expanding resources. In addition, both Projects also have further value being uncovered at depth, with proposed underground mining scenarios, beyond just the near-surface open pit development and exploration.