- Tocantinzinho Achieves Commercial Production on Time and On Budget
- Production Details and Guidance for Tocantinzinho
- Upcoming Milestones and Exploration Projects
BROSSARD, QC, Sept. 3, 2024 /PRNewswire/ – G Mining Ventures Corp. (“GMIN” or the “Corporation“) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has reached commercial production on time and on budget at its 100%-owned Tocantinzinho Gold Mine (“TZ” or the “Mine”) located in the State of Pará, Brazil. The milestone of achieving commercial production within less than two years demonstrates the systematic and efficient approach followed by the company.
Louis-Pierre Gignac, President & Chief Executive Officer, commented: “I am proud to announce this momentous achievement of starting commercial production at the Tocantinzinho Gold Mine. We have delivered TZ on time and on budget, with an industry-leading safety record. This achievement is the culmination of 5.8 million person-hours focused on building, testing, and ramping up production at Brazil’s newest major gold mine.” This successful achievement reflects the dedication and expertise of the team involved.
#### Production Details and Guidance for Tocantinzinho
The Tocantinzinho Gold Mine is engineered to have a 10.5-year mine life with an average annual gold production of 174,700 ounces and 196,200 ounces for the first five full years, leveraging the current high gold price environment. The Corporation plans to provide annual guidance for TZ in January 2025, showcasing a transparent and forward-looking approach to their operations.
#### Upcoming Milestones and Exploration Projects
Looking ahead, G Mining Ventures Corp. has set key milestones to keep the momentum going:
- September 2024: Preliminary Economic Assessment on the Oko West Project
- Q4-2024: Exploration results from the Oko West Project
- Q4-2024: Exploration results from TZ
- Q1-2025: Nameplate capacity reached at TZ
These milestones demonstrate the company’s commitment to ongoing exploration, evaluation, and development of their projects, ensuring a sustainable growth trajectory.
Overall, G Mining Ventures Corp’s achievement of reaching commercial production at Tocantinzinho Gold Mine within the expected timeframe and budget reinforces their operational capabilities and commitment to value creation for stakeholders.
