Cerrado Gold Inc. (TSXV: CERT) announced this morning the production results for Q2 2021 at its Minera Don Nicolás mine in Santa Cruz Province, Argentina. The results highlighted producing 9,934 gold equivalent ounces for the quarter, up from Q1 2021’s production of 7,708 gold equivalent ounces.
The quarterly production results included producing 9,607 gold ounces, a 28% climb from last quarter’s 7,708 gold ounces. The company believes the improvement in results is on track to meet the production guidance of 45,000-55,000 gold ounces annually.
The mining firm also shipped a total of 10,063 gold equivalent ounces this quarter compared to 6,793 gold equivalent ounces sold last quarter. The company relayed that this quarter marks the first time it exceeded the 10,000-threshold.
During the quarter, the company milled a total of 107,000 tonnes of ore material with head grades of 2.97 g/t gold and 10.91 g/t silver. This is an increase from last quarter when the company milled 95,000 tonnes of ore material with grades 2.59 g/t gold and 8.00 g/t silver.
However, recovery rates fell this quarter to 87% from 91% for gold and to 54% from 61% for silver. The gold producer attributes this to the recovery issues sustained in May 2021 by the copper sulphide-bearing gold ore from its Paloma deposit.
The company expects to release full financial results for the quarter by the end of August.
Cerrado Gold last traded at $1.28 on the TSX Venture.
Information for this briefing was found via Sedar and Cerrado Gold. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.