Cerrado Gold accelerates exploration program at Minera Don Nicolas gold mine

Cerrado Gold (CRDOF) revised its exploration plans to accelerate the previously announced 20,000 metres exploration program at its Minera Don Nicolas gold mine. The Company is planning to add three additional drill rigs to its diamond drill rig, aiming to accelerate and expand the current program and allow for drilling on multiple high quality targets simultaneously. The overall scope of the program is expected to increase significantly to approximately 50,000 metres in 2026. In addition, in order to expedite assay completion and turn around times, the Company is taking steps to certify its on-site lab. The Company anticipates issuing exploration results in batches to provide increased clarity and definition with results. The Company remains focused on expanding the mine life and potentially increasing production levels at MDN over the coming year. Operations on site are performing well and are in line with expectations, benefiting from new investment in mining equipment to increase the higher rates of ore being delivered to the leach pad at a rate of 300,000 tpm to achieve planned production rates. In addition, underground development is progressing well, with three access portals now open. Initial, higher-grade underground ore is being fed to the mill, albeit in modest amounts, to blend with the lower-grade stockpiles. The bulk of the high-grade underground ore for 2025 is expected to be mined late in the fourth quarter under the current mine plan. Underground exploration is also expected to commence in the coming months once sufficient development has been completed.