Toronto-listed G Mining Ventures (GMIN) has completed its first gold pour at the Tocantinzinho (TZ) gold project in Brazil.
The first pour yielded about 440 oz of gold, and the project remains on time and budget for commercial production in the second half of 2024.
Once in commercial production, TZ will become Brazil's third-biggest primary gold mine.
The milestone was achieved less than two years after the formal construction decision.
Construction of TZ was launched in September 2022, following the completion of a definitive feasibility study, which confirmed TZ's potential to be a cornerstone asset for GMIN.
The DFS contemplates a 10.5-year mine life with an average gold production of 175 000 oz/y with an initial capital cost of $458-million.
Since the start of hot commissioning on June 11, 2024, about 77 000 t of ore have been processed through the TZ process plant, with all circuits operating as expected. At the end of June, about 2.6-million tonnes of ore have been stockpiled, with 2.1-million tonnes grading 0.80 g/t in the low-grade stockpile and 0.6-million tonnes grading 1.31 g/t in the high-grade stockpile.