G Mining Ventures declares commercial production at Tocantinzinho

G Mining Ventures has reached commercial production on time and on budget at its 100%-owned Tocantinzinho Gold Mine located in the State of Para, Brazil. 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. During August 2024, the mill operated at 76% of nameplate throughput, processing a total of 304,312 ore tonnes at a recovery rate of 88%. The plant’s ramp-up continues to progress in line with internal production schedules, with all major equipment demonstrating the capability to operate at or above design levels. After the initial pour announced in July 2024, GMIN has focused on ramping production to test the processing circuits’ ability to handle nameplate loads while improving recovery toward a life of mine average of 90%. The Corporation plans to ramp up production through H2-24, targeting nameplate throughput by Q1 2025. TZ is engineered to 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, capitalizing on the record-high gold price environment. The Corporation plans to provide annual guidance for TZ in January 2025.