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GCM Mining reports 1Q22 production

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Global Mining Review,

GCM Mining Corp. has announced that it produced a total of 16 293 oz of gold (Au) in March 2022 at its Segovia Operations, bringing the total for 1Q22 to 49 951 oz compared with 49 058 oz from Segovia in 1Q21. In 1Q22, the company also produced 89 782 oz of silver (Ag) at Segovia, up from 57 315 oz Ag in 1Q21, together with approximately 252 000 lbs of zinc (Zn) and 338 000 lbs of lead (Pb). Consolidated gold production of 51 486 oz in 1Q21 also included 2428 oz from Marmato up to 4 February 2021, the date of the loss of control of Aris Gold Corp.

GCM Mining’s trailing 12-months’ total gold production at the end of March 2022 was 207 282 oz, up approximately 0.4% over last year. The company remains on track to meet its 2022 annual production guidance of 210 000 – 225 000 oz Au.

GCM Mining processed a total of 52 292 t in March 2022 at its Maria Dama plant at Segovia, representing a daily processing rate of 1687 tpd, compared with 48 518 t and 1565 tpd in March 2021. Segovia’s head grades averaged 10.8 g/t in March 2022, compared with 13.3 g/t in March 2021. For 1Q22, a total of 142 819 t, equivalent to 1587 tpd, were processed at Segovia at an average head grade of 12.1 g/t compared with a total of 132 289 t, equivalent to 1470 tpd, at an average head grade of 12.8 g/t in 1Q21.

The company’s polymetallic plant at Segovia operated for 86 days in 1Q22, processing an average of approximately 103 tpd of tailings, resulting in the production of approximately 307 t of Zn concentrate and approximately 279 t of Pb concentrate. The concentrate production is being stockpiled as the company finalises discussions currently in process for offtake contracts.

Payable production from the concentrates in 1Q22 is estimated to total approximately 252 000 lbs Zn, 338 000 lbs Pb, approximately 27 800 oz Ag and less than 100 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