G Mining Ventures Declares Commercial Production at Tocantinzinho Gold Mine
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) has announced commercial production at its 100%-owned Tocantinzinho Gold Mine in Brazil, achieved on time and on budget in less than two years. The mine is engineered for a 10.5-year life with average annual gold production of 174,700 ounces, increasing to 196,200 ounces for the first five full years. Commercial production was defined as 30 consecutive days of operations with the mill at minimum 60% of 12,890 tonnes per day nameplate capacity. In August 2024, the mill operated at 76% capacity, processing 304,312 ore tonnes at 88% recovery. GMIN aims to reach nameplate throughput by Q1 2025, capitalizing on record-high gold prices. The company plans to provide annual guidance for Tocantinzinho in January 2025.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) ha annunciato l'avvio della produzione commerciale nella sua miniera d'oro Tocantinzinho in Brasile, interamente di proprietà, raggiunto in tempo e all'interno del budget in meno di due anni. La miniera è progettata per avere una durata di 10,5 anni con una produzione annua media di 174.700 once d'oro, che aumenterà a 196.200 once nei primi cinque anni completi. La produzione commerciale è stata definita come 30 giorni consecutivi di operazioni con il mulino al minimo del 60% della capacità nominale di 12.890 tonnellate al giorno. Nel mese di agosto 2024, il mulino ha operato al 76% della capacità, elaborando 304.312 tonnellate di minerale con un recupero dell'88%. GMIN punta a raggiungere la capacità nominale entro il primo trimestre del 2025, capitalizzando sui prezzi dell'oro ai massimi storici. L'azienda prevede di fornire indicazioni annuali per Tocantinzinho a gennaio 2025.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) ha anunciado la producción comercial en su mina de oro Tocantinzinho en Brasil, de propiedad total, lograda a tiempo y dentro del presupuesto en menos de dos años. La mina está diseñada para una vida útil de 10.5 años con una producción anual media de 174,700 onzas de oro, aumentando a 196,200 onzas durante los primeros cinco años completos. La producción comercial se definió como 30 días consecutivos de operaciones con el molino al mínimo del 60% de la capacidad nominal de 12,890 toneladas por día. En agosto de 2024, el molino operó al 76% de capacidad, procesando 304,312 toneladas de mineral con un 88% de recuperación. GMIN tiene como objetivo alcanzar la capacidad nominal para el primer trimestre de 2025, capitalizando los precios récord del oro. La empresa planea proporcionar orientación anual para Tocantinzinho en enero de 2025.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF)는 브라질에서 100% 소유하고 있는 토칸틴지뉴 금광의 상업 생산을 발표했으며, 이는 2년 이내에 예정대로 예산 내에서 달성되었습니다. 이 광산은 연평균 174,700 온스의 금 생산량으로 10.5년의 수명을 목표로 설계되었으며, 첫 다섯 해 동안에는 196,200 온스로 증가할 예정입니다. 상업 생산은 하루 최소 12,890톤의 설비 용량의 60%에서 30일 연속 운영으로 정의되었습니다. 2024년 8월에, 밀은 76%의 용량으로 운영되었으며, 304,312톤의 광석을 처리하여 88%의 회수를 기록했습니다. GMIN은 2025년 1분기까지 설비 능력을 달성할 계획이며, 이는 사상 최고 가격의 금을 활용하는 것입니다. 회사는 2025년 1월에 토칸틴지뉴에 대한 연간 가이던스를 제공할 계획입니다.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) a annoncé le début de la production commerciale de sa mine d'or Tocantinzinho au Brésil, entièrement détenue, atteinte dans les délais et dans le budget en moins de deux ans. La mine est conçue pour avoir une durée de vie de 10,5 ans avec une production annuelle moyenne de 174 700 onces d'or, qui augmentera à 196 200 onces pendant les cinq premières années complètes. La production commerciale a été définie comme 30 jours consécutifs d'opérations avec le moulin à un minimum de 60% de la capacité nominale de 12 890 tonnes par jour. En août 2024, le moulin a fonctionné à 76% de sa capacité, traitant 304 312 tonnes de minerai avec un taux de récupération de 88%. GMIN vise à atteindre la capacité nominale d'ici le premier trimestre 2025, capitalisant sur les prix de l'or à des niveaux record. L'entreprise prévoit de fournir des orientations annuelles pour Tocantinzinho en janvier 2025.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) hat die kommerzielle Produktion in seiner zu 100% im Besitz befindlichen Goldmine Tocantinzinho in Brasilien bekannt gegeben, die fristgerecht und im Budgetrahmen in weniger als zwei Jahren erreicht wurde. Die Mine ist für eine Lebensdauer von 10,5 Jahren mit einer durchschnittlichen jährlichen Goldproduktion von 174.700 Unzen ausgelegt, die in den ersten fünf vollen Jahren auf 196.200 Unzen steigen wird. Die kommerzielle Produktion wurde definiert als 30 aufeinanderfolgende Betriebstage mit dem Mahlwerk bei mindestens 60% der Nennkapazität von 12.890 Tonnen pro Tag. Im August 2024 arbeitete die Mühle mit 76% Kapazität und verarbeitete 304.312 Tonnen Erze mit einer Rückgewinnung von 88%. GMIN strebt an, die Nennkapazität bis zum ersten Quartal 2025 zu erreichen und von den Rekordhöchstständen bei den Goldpreisen zu profitieren. Das Unternehmen plant, im Januar 2025 eine jährliche Prognose für Tocantinzinho vorzulegen.
- Commercial production achieved on time and on budget at Tocantinzinho Gold Mine
- 10.5-year mine life with average annual gold production of 174,700 ounces
- First five full years expected to produce an average of 196,200 ounces annually
- Mill operated at 76% of nameplate capacity in August 2024, exceeding 60% commercial production threshold
- Share price outperformed GDXJ by +120% since construction decision in September 2022
- None.
- Tocantinzinho reaches commercial production on time and on budget in less than two years
- Tocantinzinho engineered to have a 10.5-year mine life with an average annual gold production of 174,700 ounces, and an average annual gold production of 196,200 for the first five full years
- Nameplate throughput expected by Q1 2025
- Share price outperformed GDXJ by +
120% since the construction decision in September 2022
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
The plant's ramp-up continues to progress in line with internal production schedules, with all major equipment demonstrating the capability to operate at or above design levels. After the initial pour announced in July 2024, GMIN has focused on ramping production to test the processing circuits' ability to handle nameplate loads while improving recovery toward a life of mine average of
TZ 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, capitalizing on the record-high gold price environment. The Corporation plans to provide annual guidance for TZ in January 2025.
Virtual Site Tour and Feasibility Study Presentation
Updated satellite imagery and 360 photography showing the site progress is available through the corporate presentation at: https://vrify.com/decks/14338. A 3D presentation of the Project Feasibility Study is available at: Feasibility Study 3D VRIFY Presentation. Both presentations can be accessed by visiting GMIN's website at https://www.gmin.gold.
Timetable and Next Steps
Upcoming key milestones include:
- 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
Qualified Person
Louis-Pierre Gignac, President & Chief Executive Officer of GMIN, a QP as defined in NI 43-101, has reviewed the press release on behalf of the Corporation and has approved the technical disclosure contained in this press release.
About G Mining Ventures Corp.
G Mining Ventures Corp. (TSX: GMIN) (OTCQX: GMINF) is a mining company engaged in the acquisition, exploration and development of precious metal projects to capitalize on the value uplift from successful mine development. GMIN is well-positioned to grow into the next mid-tier precious metals producer by leveraging strong access to capital and proven development expertise. GMIN is currently anchored by the Tocantinzinho Gold Mine in
Additional Information
For further information on GMIN, please visit the website at www.gmin.gold
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute "forward-looking information" and "forward-looking statements" within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release. Forward-looking statements contained in this press release include, without limitation, those related to (i) the expected mine life and gold production at TZ, (ii) the nameplate throughput expected by Q1 2025, (iii) the processing circuits' ability to handle nameplate loads, and (iv) the improving recovery towards a mine average of
Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Such assumptions include, without limitation, those underlying the items listed in the above sections entitled "Timetable and Next Steps" and "About G Mining Ventures Corp.".
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that, notably but without limitation, (i) the Corporation will achieve all its operational objectives as outlined in this release, (ii) TZ will reach nameplate throughput by Q1 2025, or at all, (iii) the Corporation will achieve its production and cost KPIs, and (iv) the Corporation will use TZ as the flagship asset to grow GMIN into the next mid-tier precious metals producer, as future events could differ materially from what is currently anticipated by the Corporation.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in the Corporation's other filings with the securities regulators of
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SOURCE G Mining Ventures Corp
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