Cerrado Gold Announces Start of Exploration Campaign at its Minera Don Nicolás Mine
Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) has launched a new exploration campaign at its Minera Don Nicolás (MDN) mine in Argentina. The initial 3,000-metre drill program targets two high-grade areas: the Goleta zone and Calandrias North downward plunge extension. This campaign aims to extend the mine's life and increase mineral resources, building on the recent mineral resource estimate that provided a 5-year mine life and US$111 million Net Present Value at $2,100 gold.
The Goleta zone, located 7 km northwest of the Martinetas mill, shows potential for a high-grade quartz vein system beneath a breccia cover. At Calandrias North, currently the primary source of high-grade feed, the program seeks to prove the continuity of the mineralized trend, with potential for low-capital underground development.
Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) ha lanciato una nuova campagna di esplorazione nella sua miniera Minera Don Nicolás (MDN) in Argentina. Il programma di perforazione iniziale di 3.000 metri si concentra su due aree ad alto grado: la zona Goleta e l'estensione in discesa di Calandrias North. Questa campagna mira a estendere la vita della miniera e aumentare le risorse minerarie, basandosi sulla recente stima delle risorse minerarie che ha fornito una vita mineraria di 5 anni e un Valore Attuale Netto di 111 milioni di dollari al prezzo dell'oro di 2.100 dollari.
La zona Goleta, situata a 7 km a nord-ovest del molino Martinetas, mostra potenziale per un sistema di vene di quarzo ad alto grado sotto una copertura di breccia. A Calandrias North, attualmente la principale fonte di materiale ad alto grado, il programma cerca di dimostrare la continuità del trend mineralizzato, con potenziale per uno
Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) ha lanzado una nueva campaña de exploración en su mina Minera Don Nicolás (MDN) en Argentina. El programa inicial de 3,000 metros de perforación tiene como objetivo dos áreas de alta ley: la zona Goleta y la extensión en declive de Calandrias North. Esta campaña tiene como objetivo extender la vida de la mina y aumentar los recursos minerales, basándose en la reciente estimación de recursos minerales que proporcionó una vida útil de la mina de 5 años y un Valor Presente Neto de 111 millones de dólares a un precio del oro de 2,100 dólares.
La zona Goleta, ubicada a 7 km al noroeste de la planta Martinetas, muestra potencial para un sistema de vetas de cuarzo de alta ley bajo una cobertura de brecha. En Calandrias North, actualmente la principal fuente de alimentación de alta ley, el programa busca demostrar la continuidad de la tendencia mineralizada, con potencial para un desarrollo subterráneo de bajo capital.
Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF)는 아르헨티나의 Minera Don Nicolás (MDN) 광산에서 새로운 탐사 캠페인을 시작했습니다. 초기 3,000미터 시추 프로그램은 두 개의 고품위 지역, 즉 Goleta 존과 Calandrias North 하강 연장을 목표로 하고 있습니다. 이 캠페인의 목표는 광산 생명을 연장하고 광물 자원을 증가시키는 것으로, 최근의 광물 자원 추정치를 바탕으로 5년의 광산 생명과 1억 1,100만 달러의 현재 가치를 $2,100의 금값에 맞추었습니다.
Goleta 존은 Martinetas 밀에서 북서쪽으로 7km 떨어진 곳에 위치하며, 부정형 덮개 아래에 고품위 석영 vein 시스템의 잠재력을 보여줍니다. Calandrias North는 현재 고품위 원료의 주요 공급원으로, 이 프로그램은 광물화 경향의 연속성을 입증할 수 있는 잠재력을 가지고 있으며, 저자본의 지하 개발 가능성이 있습니다.
Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) a lancé une nouvelle campagne d'exploration à sa mine Minera Don Nicolás (MDN) en Argentine. Le programme de forage initial de 3 000 mètres cible deux zones à haute teneur : la zone Goleta et l'extension descendant de Calandrias North. Cette campagne vise à prolonger la durée de vie de la mine et à augmenter les ressources minérales, en se basant sur l'estimation récente des ressources minérales qui a fourni une durée de vie de 5 ans et une Valeur Actuelle Nette de 111 millions de dollars à un prix de l'or à 2 100 dollars.
La zone Goleta, située à 7 km au nord-ouest de l'usine Martinetas, montre un potentiel pour un système de veines de quartz hautement titré sous une couverture de brèche. À Calandrias North, actuellement la principale source d'alimentation à haute teneur, le programme cherche à prouver la continuité de la tendance minéralisée, avec un potentiel pour un développement souterrain à faible coût.
Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) hat eine neue Erkundungskampagne gestartet in seiner Minera Don Nicolás (MDN) Mine in Argentinien. Das erste 3.000-Meter-Bohrprogramm zielt auf zwei hochgradige Bereiche: die Goleta-Zone und die Abwärtsverlängerung von Calandrias North. Diese Kampagne hat das Ziel, die Lebensdauer der Mine zu verlängern und mineralische Ressourcen zu erhöhen, basierend auf der jüngsten Schätzung der mineralischen Ressourcen, die einen 5-jährigen Bergbaubetrieb und einen Nettobarwert von 111 Millionen US-Dollar bei 2.100 US-Dollar Gold lieferte.
Die Goleta-Zone, die 7 km nordwestlich der Martinetas-Mühle liegt, zeigt Potenzial für ein hochgradiges Quarzgangsystem unter einer Breccia-Bedeckung. In Calandrias North, derzeit die Hauptquelle für hochgradiges Material, versucht das Programm, die Kontinuität des mineralisierten Trends nachzuweisen, mit dem Potenzial für Kapitaleffiziente Untertageentwicklung.
- Initiation of a new 3,000-metre drill program targeting high-grade areas
- Recent mineral resource estimate provided a 5-year mine life and US$111 million Net Present Value
- Potential to significantly grow the resource base beyond the current 5-year mine life
- Goleta zone shows promise for a high-grade quartz vein system
- Calandrias North deposit has potential for low-capital underground development
- None.
Initial 3,000 metre drill program focused on the high-grade Goleta target and the Calandrias North down plunge extension
Drill program is part of campaign targeting the expansion of life of mine and total mineral resources
TORONTO, ON / ACCESSWIRE / August 20, 2024 / Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) ("Cerrado" or the "Company") is excited to announce the start of a new exploration campaign at its Minera Don Nicolás ("MDN") mine in Santa Cruz, Argentina, targeting the extension of the Life of Mine ("LOM") and the increase in mineral resources. The Company has started the first drilling consisting of approximately 3,000 metres on two key high-grade targets, being the Goleta zone and the Calandrias North downward plunge extension. The drilling has the specific objective of providing additional high-grade feed to the CIL Plant. A drill rig has been mobilized to the site and is currently drilling the first hole at Goleta. Any new resources would add to the recent mineral resource estimate completed by the Company and announced on August 6, 2024, providing a 5 year mine life and US
Mark Brennan, CEO and Chairman commented: "With a difficult period of uncertainty now behind us, we are excited to be commencing a new exploration program at MDN where we see the potential to significantly grow the resource base beyond the current 5 year mine life outlined in the recently completed PEA. This new program is specially focused on the potential to rapidly grow high grade resources suitable to be processed at the CIL plant to extend the life of mine. This initial round of drilling is planned to support follow on programs moving forward as the Company aims to rigorously explore our extensive land package."
Figure 1. Targets Location
Goleta Zone
Goleta is a high-grade target located approximately 7 kilometres northwest of the Martinetas mill and CIL plant. Surface exploration has shown the mineralization at Goleta consists of mineralized fragments of banded quartz veins within a polymitic breccia believed to be of phreatomagmatic origin. Phreatic brecciation is late process occurring post mineralization. The exploration premise is that these large clasts are from a high-grade quartz vein system located beneath the breccia and hosted by the underlying Martinetas ignibrite.
Cerrado has conducted soil sampling, geological mapping, trenching, and detailed ground magnetics in Goleta. An IP/Res survey is currently underway to resolve the minimum resistivity contrast between potential quartz mineralized veins and the ignimbritic host rock under the breccia cover. The exploration concept for Goleta is similar to the Marianas vein discovery (Multiple hundred thousand ounces) in the Cerro Negro deposit (Newmont), also located in the Deseado Massif in Argentina. (see Figure 3)
The current plan will target to identify the potential buried primary vein system, believed to be located at lower elevations at vertical projection of areas with a higher density of large, mineralized clasts. Veins could potentially be thick and high grade, considering diameter of clast in the post mineral breccia (up to 2 metres) and Au grade in grab samples of fragments (90 g/t Au). The initial drill plan will target over 600 metres of potential strike length as shown in the figure below to determine the best locations for additional follow up drilling.
Figure 2. Plan View with planned holes by priority in Goleta
Figure 3. Conceptual Cross section Goleta Primary Vein Target hosted by ignimbritic unit sitting stratigraphically under the post mineral polymictic breccia
Calandrias Norte Deposit
The La Calandria Norte deposit, currently being mined, is a dome-hosted Au-Ag epithermal deposit, located about 600 metres north of La Calandria Sur. The deposit is defined by northeast‐trending veins and vein/breccia mineralization hosted by a Rhyolite dome.
Mining at Calandrias North commenced early this year and is currently the primary source of high-grade feed to the mill and CIL plant. The open pit constrained mineral resource estimate of Calandrias North was recently updated as part of the new PEA technical report of the MDN property including 79 kt at 14.9 g/t Au (37.9 koz) of Measured and Indicated Resource; and 11 kt at 10.7 g/t Au (4.1 koz) in the Inferred category. The deposit is effectively open to the Southwest following the shallow dipping plunge that controls the high-grade mineralization.
A modest four-hole plan aims to prove the continuity of the plunging mineralized trend, characterizing grade, thickness, and overall size potential. The company sees this target as a potential low-capital underground development, utilizing the existing infrastructure in the area.
Figure 4. Calandrias North Plan view with proposed holes
Figure 5. Longitudinal Section looking to the NW, showing Au contours highlighting shallow plunging trend open to the SW.
Review of Technical Information
The scientific and technical information in this press release has been reviewed and approved by Sergio Gelcich, P.Geo., Vice President, Exploration for Cerrado Gold Inc., who is a Qualified Person as defined in National Instrument 43-101.
About Cerrado
Cerrado Gold is a Toronto-based gold production, development, and exploration company focused on gold projects in South America. The Company is the
In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolás operation through continued operational optimization and is growing production through its operations at the Las Calandrias Heap Leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.
In Canada, Cerrado holds a
For more information about Cerrado please visit our website at: www.cerradogold.com.
Mark Brennan
CEO and Chairman
Mike McAllister
Vice President, Investor Relations
Tel: +1-647-805-5662
mmcallister@cerradogold.com
Disclaimer
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains statements that constitute "forward-looking information" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado, the trading date for the Company's common shares on the TSX Venture Exchange, the performance of the Minera Don Nicolas mine, the expected grade of the Goleta and Calandrias North targets, the prospective similarity in exploration concept for Goleta to the Marianas vein discovery in the Cerro Negro deposit and the anticipated lower elevations at vertical projection areas of the targets. In making the forward- looking statements contained in this press release, Cerrado has made certain assumptions. Although Cerrado believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
SOURCE: Cerrado Gold Inc.
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FAQ
What is the focus of Cerrado Gold's new exploration campaign at Minera Don Nicolás?
What is the current Net Present Value of Cerrado Gold's Minera Don Nicolás project (CRDOF)?
Where is the Goleta zone located in relation to Cerrado Gold's Minera Don Nicolás mine?
What is the current status of the Calandrias Norte deposit at Cerrado Gold's MDN mine (CRDOF)?
