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GCM Mining reports 2Q22 and 1H22 production

Published by , Deputy Editor
Global Mining Review,

GCM Mining Corp. produced a total of 16 370 oz of gold (Au) in June 2022 at its Segovia Operations, bringing the total for 2Q22 to 53 198 oz compared with 52 198 oz from Segovia in 2Q21. In 2Q22, the company also produced 85 741 oz of silver (Ag), up from 54 573 oz of silver in 2Q21, together with approximately 294 000 lbs of zinc (Zn) and 345 000 lbs of lead (Pb).

For 1H22, the company produced 103 149 oz Au at its Segovia Operations, up from 101 256 oz Au in 1H21. The company reported consolidated gold production in 1H21 of 103 684 oz, which included 2428 oz from Marmato up to 4 February 2021, the date of the loss of control of Aris Gold Corporation.

GCM Mining’s trailing 12-months’ total gold production at the end of June 2022 was 208 282 oz, up about 1% over last year. The company remains on track to meet its 2022 annual production guidance of 210 000 – 225 000 oz Au, aided by the completion of the Maria Dama plant expansion to 2000 tpd in 3Q22.

GCM Mining processed a total of 44 047 t in June 2022 at its Maria Dama plant, representing a daily average processing rate of 1468 tpd, at an average head grade of 12.8 g/t. Plant operations in June 2022 reflected a scheduled 120-hr stoppage to change the linings of the mill in addition to routine repairs and improvements. For 2Q22, a total of 147 580 t, equivalent to 1622 tpd, were processed at Segovia at an average head grade of 12.4 g/t compared with a total of 143 910 t, equivalent to 1581 tpd, at an average head grade of 12.6 g/t in 2Q21. This brings the daily average processing rate for 1H22 to 1604 tpd at an average head grade of 12.3 g/t compared with 1526 tpd and 12.7 g/t in 1H21.

The company’s polymetallic plant at Segovia processed an average of approximately 97 tpd of tailings in 1H22, resulting in the production of approximately 645 t of zinc concentrate and approximately 547 t of lead concentrate, which have been stockpiled and are expected to start shipping in the next few weeks under an offtake agreement with an international customer that was executed in June. Payable production from the concentrates in 1H22 is estimated to total approximately 546 000 lbs Zn, 683 000 lbs Pb, approximately 57 600 oz Ag and approximately 200 oz Au. Actual payable quantities are subject to change and will be finalised once the concentrates are shipped.

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Gold mining news Silver mining news South American mining news