G Mining Ventures (GMIN) has achieved commercial production at its fully-owned Tocantinzinho (TZ) gold project located in Pará State, Brazil.
According to the Canada-based mining company, the commercial production at the Brazilian project was on time and on budget in less than two years.
Commercial production is defined as a period of 30 consecutive days of operations during which the mill operated at a minimum of 60% of nameplate throughput of 12,890 tonnes per day (tpd).
Last month, the mill operated at 76% of nameplate throughput, processing a total of 304,312 ore tonnes (9,817tpd) at a recovery rate of 88%.
G Mining Ventures said that the plant’s ramp-up continues to progress in line with internal production schedules. All major equipment is demonstrating the capability to operate at or above design levels.
The first pour at the Tocantinzinho project, which yielded around 440 ounces of gold, was announced in July 2024.
Following the initial pour, G Mining Ventures focused on ramping production to test the processing circuits’ capability to manage nameplate loads along with enhancing recovery toward a life of mine average of 90%.
The company intends to ramp up production through the second half of this year, targeting nameplate throughput by Q1 2025.
G Mining Ventures president and CEO Louis-Pierre Gignac said: “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.
“I would like to recognise the immense efforts of our dedicated team, who have invested their talent, expertise, and passion in reaching this transformational milestone. With this accomplishment behind us, we remain committed to enhancing plant performance and achieving our production and cost KPIs.”
The Tocantinzinho gold project will 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.
Construction of the Tocantinzinho gold project began in September 2022 after the completion of a definitive feasibility study (DFS) in February 2022.
G Mining Ventures also plans to provide annual guidance for the Brazilian gold project in January 2025.
