TSX-listed G Mining Ventures (GMIN) has announced progress in the commissioning of its Tocantinzinho (TZ) gold project, in Brazil.
With the project engineered to produce about 175 000 oz/y of gold over a 10.5-year mine life, the company says it is on schedule and within budget to begin commercial production in the second half of 2024.
On June 10, the Pará State Environmental Agency, or SEMAS, issued the hot commissioning permit, allowing for ore processing, tailings disposal, and the sale and export of gold. The permit enabled the introduction of ore into the grinding circuit, marking a critical step towards full-scale production.
President and CEO Louis-Pierre Gignac commended the team's dedication and efficiency.
"Less than two years after our formal construction decision, TZ is on the brink of gold production, which speaks volumes about our team's capability and our self-perform approach. TZ is set to become Brazil's third-largest primary gold mine. As we approach commercial production in the latter half of 2024, I am excited about the potential growth of G Mining Ventures Corp, with TZ as our foundational asset,” said Gignac.
The company has stockpiled about two-million tonnes of ore, divided into 1.5-million tonnes of low-grade ore at 0.77 g/t and 0.5-million tonnes of high-grade ore at 1.29 g/t. Initial hot commissioning activities will use the low-grade stockpiled ore, with a gradual shift to higher-grade ore as production ramps up towards a throughput of 4.7-million tonnes a year, in line with mining advancement into higher-grade hard rock.
As of May 31, the project is 97% complete. Construction is substantially finished, with minor works remaining in the gravity, ADR (adsorption, desorption, and recovery), carbon regeneration, and gold room areas.
The plant’s pre-commissioning and commissioning phases began earlier this year, achieving a major milestone for GMIN. Comprehensive water testing has been conducted, and primary systems including the crusher, ore reclaim, grinding, and wet circuits have been successfully tested, performing as expected.