Soma Gold Reports Gold Production Of 1,663 Ounces For January

Soma Gold (TSXV: SOMA) this morning reported product results for its Operado subsidiary this morning. The company managed to produce 1,663 ounces of gold for the month of January, exceeding its guidance of 1,361 ounces by 22%.

The company this morning also announced that it is in the process of reaching a new deposit on site, referred to as the Balvina Cordero deposit. The portal to the deposit is reportedly 35% of the way to reaching the orebody, with the ore body at Level 3 of the mine.

The first phase of the decline to this ore body, the third such deposit for the fine, is anticipated to go to a depth of 890 metres, which is expected to be reached in the second quarter, when mining of this level will begin. The drive to the deposit is a result of the average grade of 6.2 g/t gold at the deposit, compared to the 3.6 g/t gold the company is currently operating under at the Los Mangos and La Ye deposits.

Upon reaching this new deposit, the operation will reportedly see fully-ramped mining at the property, with gold production expected to increase “proportionately.” More specific numbers however were not provided.

Soma Gold last traded at $0.38 on the TSX Venture.


Information for this briefing was found via Sedar and Soma Gold. The author has no securities or affiliations related to these organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

New Found Gold Assays: NFG?

New Found Gold courts controversy as it does the detective work, and The Deep Dive’s...

Tuesday, November 9, 2021, 03:36:00 PM

Central Banks Are Loading Up On Gold Reserves While Canada Has None

Central bankers in charge of trillions of dollars in foreign exchange reserves are stockpiling gold...

Monday, April 24, 2023, 03:00:23 PM

Karora: Haywood Reiterates Ratings After Three Year Guidance Announcement

On June 28th, Karora Resources Inc. (TSX: KRR) announced its three-year production guidance, whereby they...

Wednesday, June 30, 2021, 04:53:00 PM

Blue Lagoon Intersects 22.12 g/t Gold, 47.95 g/t Silver Over 2.14 Metres

Blue Lagoon Resources (CSE: BLLG) this morning released its latest round of assay results from...

Thursday, March 17, 2022, 08:07:47 AM

Midas Gold Sees CEO Step Down, Directors Replaced

Midas Gold (TSX: MAX) shareholders this morning are waking up to the news that the...

Friday, December 4, 2020, 08:23:25 AM