G Mining Ventures Corp. (GMIN) provided an update on commissioning progress at its Tocantinzinho gold project (TZ) in Brazil. TZ has been engineered to produce approximately 175,000 ounces per year (oz/y) of gold over its initial 10.5-year mine life and is on track and on budget for commercial production in H2-2024.
Ore was introduced into the grinding circuit on June 10 after GMIN received the hot commissioning permit from the Pará State Environmental Agency, SEMAS. The commissioning permits allow for the mining and processing of ore, disposal of tailings as well as the selling and exporting of gold
“Less than two years after the formal construction decision, TZ is on track to commence gold production imminently, as planned,” said Louis Gignac, president and CEO for GMIN. “This is a testament to the outstanding achievement of our team in executing our proven self-perform approach. Once at a steady state, TZ is poised to become Brazil’s third-largest primary gold mine. As we eagerly anticipate commercial production at TZ in the second half of 2024, I look forward to growing G Mining Ventures Corp. using TZ as its cornerstone asset.”
Approximately 2 million metric tons (mt) of ore have been stockpiled, with 1.5 million mt grading 0.77 g/mt gold in the low-grade stockpile, and 500,000 mt grading 1.29 g/mt gold in the high-grade stockpile. Hot commissioning activities will initially use the low-grade stockpiled ore and progressively feed higher-grade ore as production ramps up toward a planned throughput of 4.7 million mt/y, and mining progresses toward the higher-grade hard rock.
GMIN said the total project progress stood at 97% complete as of May 31, 2024. Construction has been successfully finished, with only minor works remaining at the gravity, ADR, carbon regeneration, and gold room. Pre-commissioning and commissioning of the plant began earlier this year, marking a significant milestone for the company. As of May, the entire system has been water tested. The primary crusher, ore reclaim system, grinding, and wet circuits have been tested, and all systems are performing as expected, fueling anticipation for the upcoming commercial production.