Cerrado Gold Inc. (TSX.V: CERT | OTCQX: CRDOF) has announced its operational and financial results for the second quarter of 2022. Q2 2022 represents the third quarter of mine operations post completion of operational restructuring at its Minera Don Nicolas (“MDN”) Mine in Argentina.
Q2 2022 financial and operational highlights include the production of 11,296oz of gold in Q3 2022 (11,640 Gold Equivalent Ounces), this runs inline with the annual guidance of 45,000 – 55,000oz of production. The average gold head grade of 3.44g/t represented a decrease over the previous quarter due to the integration of new mining areas but is expected to improve in the second half of the year. AISC of $1,409/oz of gold sold due to lower head grades and throughput during the quarter.
Mark Brennan, CEO and Co-Chairman stated: “Despite some challenges associated with the new pits being mined and the consequences of a difficult inflationary environment in Argentina, we are pleased that production rates are consistently within our range of guidance for 2022. As we look to the remainder of the year, we expect to see grades gradually improving as we fully incorporate new mining pits into the production plan. In Brazil work continues to upgrade the resources at Monte Do Carmo and feasibility works are progressing as planned.”
About Cerrado
Cerrado is a Toronto based gold production, development and exploration company focused on gold projects in the Americas. The Company is the 100% owner of both the producing Minera Don Nicolás mine in Santa Cruz province, Argentina and the highly prospective development project, Monte Do Carmo located in Tocantins State, Brazil. At Minera Don Nicolas, Cerrado is maximising asset value through further operation optimization and continued production growth. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package. At Monte Do Carmo, Cerrado is rapidly advancing the Serra Alta deposit through Feasibility and production. The Serra Alta deposit Indicated Resources of 541Koz of contained gold and Inferred Resources of 780Koz of contained gold. The Preliminary Economic Assessment demonstrates robust economics as well as the potential to be one of the industry’s lowest cost producers. Cerrado also holds an extensive and highly prospective 82,542ha land package at Monte Do Carmo.
For further information please visit: https://www.cerradogold.com/
