G Mining Ventures Completes First Gold Pour at Tocantinzinho Gold Project
Canada’s G Mining Ventures (GMIN) has completed the first gold pour at its Tocantinzinho Gold Project in the State of Pará, Brazil.
The first pour offered around 440oz of gold, with the project remaining on time and within budget for commercial production in H2 2024.
This project is poised to become Brazil’s third-largest primary gold mine after the start of commercial production.
Construction of GMIN’s wholly owned Tocantinzinho Gold Project began in September 2022, after a definitive feasibility study (DFS) in February of the same year.
The study confirmed the project’s potential to be a “cornerstone asset” for G Mining Ventures.
It estimates a mine life of 10.5 years, with an average annual gold production of 175,000oz and an initial capital cost of $458m (C$623.78m).
Progress and Ore Processing
Around 77,000 tonnes of ore have been processed through the Tocantinzinho process plant since the beginning of hot commissioning in June, with nearly 2.6 million tonnes (mt) of ore stockpiled by the end of June.
This includes 2.1mt grading 0.80 grams per tonne (g/t) of gold in the low-grade stockpile as well as 0.6mt grading 1.31g/t of gold in the high-grade stockpile.
CEO’s Statement
G Mining Ventures president and CEO Louis-Pierre Gignac expressed his satisfaction with the milestone, emphasizing the team’s efficiency in constructing the mine on time and within budget while maintaining safety protocols.
Gignac added, “This milestone is a testament to the strength of our self-perform approach and demonstrates our competitive advantage.”
Looking forward, G Mining Ventures aims to ramp up operations to commercial production in the second half of 2024, highlighting the project’s significance in Brazil’s gold mining industry.
Additional Insight:
The completion of the first gold pour at the Tocantinzinho Gold Project signifies a major milestone for G Mining Ventures and sets the stage for the project to become a significant player in Brazil’s gold mining industry. The successful processing of ore and stockpiling efforts indicate a promising start for the project’s commercial production, contributing to the overall growth and development of the region’s mining sector. Louis-Pierre Gignac’s acknowledgment of the team’s efforts underscores the collaborative nature of the venture, emphasizing the importance of teamwork and dedication in achieving success in the mining industry.
