G Mining Ventures (TSX: GMIN)
Provide dan update on commissioning progress at GMIN’s 100%-owned Tocantinzinho Gold Project in the State of Pará, Brazil.
TZ is engineered to produce approximately 175,000 ounces of gold annually over its initial 10.5-year mine life and is on track and on budget for commercial production in H2-2024.
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| G Mining Ventures | TSX: GMIN |
| Stage | Development + Exploration |
| Metals | Gold |
| Market cap | C$931 million @ C$2.06 |
| Location | Tapajos, Para State, Brazil |
| Website | www.gminingventures.com |
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G Mining Ventures Commences Processing Ore at Tocantinzinho Project:
Start of Hot Commissioning.
BROSSARD, QC, June 11, 2024 – G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN, OTCQX: GMINF) is pleased to provide an update on commissioning progress at GMIN’s 100%-owned Tocantinzinho Gold Project (“TZ” or the “Project”) in the State of Pará, Brazil. TZ is engineered to produce approximately 175,000 ounces of gold annually over its initial 10.5-year mine life and is on track and on budget for commercial production in H2-2024.
Ore was introduced into the grinding circuit on June 10 after GMIN received the hot commissioning permit from the Pará State Environmental Agency, SEMAS.
The commissioning permits allow for the mining and processing of ore, disposal of tailings as well as the selling and exporting of gold.
Highlights;
o Project remains on schedule and on budget for commercial production in H2-2024
o Dry and Wet Commissioning well advanced; Hot Commissioning with ore commencing
o Total project progress of 97% with construction essentially complete
o 2.0 Mt of ore stockpiled to date ahead of schedule; building of crushed ore stockpile starting
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Louis-Pierre Gignac, President & Chief Executive Officer, commented:
“Less than two years after the formal construction decision, TZ is on track to commence gold production imminently, as planned.
“This is a testament to the outstanding achievement of our team in executing our proven self-perform approach.
“Once at a steady state, TZ is poised to become Brazil’s third-largest primary gold mine.
“As we eagerly anticipate commercial production at TZ in the second half of 2024, I look forward to growing G Mining Ventures Corp. using TZ as its cornerstone asset.”
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To View G Mining Ventures’ historical news, please click here
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To read the full news release please click HERE
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Disclosure
At the time of writing the author holds shares in G Mining Ventures.
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