Saturday, May 31, 2025

Latest

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.

Leave a Reply

Video Articles

Alamos Gold Q1 Earnings: The Inside Scoop

Cerrado Gold Q4 Earnings: The Turnaround is Working

B2GOLD Q1 Earnings: Revenue Up, Production & Cash Flow Decline

Recommended

Canadian Copper: The $172M Combined Strategy PEA

ESGold Begins Concentration Tests Ahead Of First Production

Related News

Gran Colombia Gold Announces Share Buyback Program

Gran Colombia Gold Corp (TSX: GCM) this morning announced that it has been approved by...

Wednesday, September 2, 2020, 08:58:24 AM

AUX Resources Sees Eric Sprott Invest $2.0 Million In Company Following Assay Results

It appears that certain big name investors took notice of the excellent drill results posted...

Thursday, February 11, 2021, 06:43:16 PM

Novo Resources Takes 50% Interest In Queens Gold Project

Novo Resources (TSX: NVO) has acquired a 50% stake in the Queens gold project in...

Monday, March 22, 2021, 08:56:19 AM

Guyana Goldfields Receives Superior Offer Of $1.85 Per Share From Unnamed Vendor

As it turns out, the Guyana Goldfields (TSX: GUY) acquisition by Silvercorp Metals (TSX: SVM)...

Thursday, June 4, 2020, 09:37:22 AM

Search Interest For Gold Soars 64% in One Week as Recession Fears Mount

Google searches for “buy gold” have surged by nearly 64% in just one week. This...

Wednesday, August 7, 2024, 11:36:00 AM