Sep 15 2020
Caldas Gold Corp., a Canadian junior mining company, reports that it has successfully produced a sum of 2,743 oz of gold in August 2020, which is an increase of 66% over the previous month’s production.
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This recent production brings the total for the initial two months of Q3 of 2020 to 4,396 oz, an increase of 9% over the same two-month period in 2019.
The total gold production of Caldas Gold for the first eight months of 2020 of 14,148 oz, in comparison to a total of 16,509 oz in the first eight months of 2019, shows the effect of COVID-19 on the company’s mining operations from late March through July of 2020.
Caldas Gold expects that its 2020 yearly production will span between 23,000 and 26,000 oz of gold.
We are beginning to see the benefit of our mine optimization work in the Upper Zone mine on our production results in August now that we have a full complement of workers available to us. We remain vigilant in our COVID-19 protocols to protect the safety of our workers and we are confident that we will meet our production guidance for the year.
Lombardo Paredes, President, Caldas Gold Corp.
Operations carried out at the Marmato mine benefitted in August 2020 from a greater availability of workers and the implementation of action plans set to enhance the mining practices to decrease dilution, as described in Caldas Gold’s latest pre-feasibility technical report for the mine expansion at its Marmato Project.
Caldas Gold observed an increase in its day-to-day processing rate to an average of 1,034 tons per day (tpd) in August, which is an increase of about 23% from the previous month, with an average head grade of 3.0 g/t, which is an increase of 2.2 g/t from the previous month.
For the initial two months of Q3 of 2020, Caldas Gold has processed an average of 939 tpd with an average head grade of 2.6 g/t in comparison to an average of 1024 tpd processed with an average head grade of 2.3 g/t in the same two-month period of 2019.
In the first eight months of 2020, Caldas Gold has processed an average of 805 tpd with an average head grade of 2.5 g/t in comparison to an average of 1009 tpd processed in the first eight months of 2019 with an average head grade of 2.4 g/t.
Caldas Gold’s mill recovery rate has also enhanced to an average of 89% in the first eight months of 2020 in comparison to 87% in the same period of 2019.