Name of the Project
Tocantinzinho gold project.

Location
Para state, Brazil.

Project Owner/s
G Mining Ventures Corp.

Project Description
The project has robust economics for a low-cost, large-scale, conventional openpit mining and milling operation, with industry-leading operating costs and a high rate of return.

The project outlines total gold production of 1.83-million gold ounces over 10.5 years. Average mill throughput a year is estimated at 4.6-million tonnes, resulting in an average gold production profile of 174 700 oz/y. 

The feasibility study project mine plan is based on proven and probable mineral reserves of 48.7-million tonnes at an average gold grade of 1.31 g/t for 2.04-million contained ounces of gold as of December 10, 2021.

Potential Job Creation
About 2 200 employees and contractors are currently employed at the project, of whom 95% are local Brazilians.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of $622-million and an after-tax internal rate of return of 24%, with a payback of 3.2 years.

Capital Expenditure
Initial capital costs are estimated at $427-million.

Planned Start/End Date
The project is construction-ready and first production is expected in the second half of 2024.

Latest Developments
The project is on schedule and within budget to start commercial production in the second half of 2024.

The Pará State Environmental Agency, or SEMAS, issued the hot commissioning permit on June 10, allowing for ore processing and tailings disposal, as well as the sale and export of gold. The permit allows for the introduction of ore into the grinding circuit, marking a critical step towards full-scale production.

G Mining Ventures has stockpiled about two-million tonnes of ore, divided into 500 000 t of low-grade ore at 0.77 g/t and 500 000 t 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.

Comprehensive water testing has been conducted. Primary systems, including the crusher, ore reclaim, grinding and wet circuits have been successfully tested, and are performing as expected. 

Key Contracts and Suppliers
None stated.

Contact Details for Project Information
G Mining Ventures Corp, email info@gminingventures.com.