Santa Cruz: Cerrado Gold Initiates New Exploration at Don Nicolás Mine, Aiming to Extend Mine Life Beyond Five Years

Santa Cruz: Cerrado Gold Initiates New Exploration at Don Nicolás Mine, Aiming to Extend Mine Life Beyond Five Years
Santa Cruz: Cerrado Gold Initiates New Exploration at Don Nicolás Mine, Aiming to Extend Mine Life Beyond Five Years
Share:

The company that owns the gold mine has announced the start of a new exploration campaign in Santa Cruz, with the goal of extending the mine's life and increasing mineral resources.

By Panorama Minero

Cerrado Gold has commenced an initial drilling phase of approximately 3,000 meters, focused on two key high-grade targets: the Goleta zone and the northern depth extension of the Calandrias section. The drilling aims to provide additional high-grade material for the cyanide leach (CIL) plant.

Currently, a drilling rig has been mobilized to the site and is drilling the first hole at Goleta. Any new resources would contribute to the recently completed mineral resource estimate by the company, announced on August 6th, which projects a mine life of five years and a Net Present Value (NPV) of $111 million at a gold price of $2,100 per ounce ($153 million at $2,400 per ounce).

Mark Brennan, CEO and President of Cerrado Gold, commented: “With a period of uncertainty now behind us, we are excited to begin a new exploration program at MDN, where we see the potential to significantly expand the resource base beyond the five-year mine life outlined in the recent PEA. This new program is particularly focused on the potential to rapidly increase high-grade resources suitable for processing at the CIL plant and thus extend the mine's life. This initial round of drilling is designed to support future programs as the company rigorously explores our extensive land package.”

Published by: Panorama Minero

Category: News

Join our mining community!


Subscribe to our newsletter for exclusive news, insights, and updates on the mining industry and Panorama Minero's latest initiatives.

Illustrative image for the article: Mining Prices on the Rise: Argentina’s Mineral Export Index Climbs 3% Driven by Gold and Copper

Mining Prices on the Rise: Argentina’s Mineral Export Index Climbs 3% Driven by Gold and Copper

According to a recent report from Argentina’s Secretariat of Mining, the global minerals market experienced significant volatility in March, reflecting a complex international backdrop shaped by macroeconomic uncertainty, geopolitical tensions, and shifts in trade policies among major global powers. Against this backdrop, Argentina’s Mineral Export Price Index rose 3% month-over-month, consolidating at historically high levels.

Illustrative image for the article: Arminera 2025: A Gathering to Discover the Latest Innovations in the Industry

Arminera 2025: A Gathering to Discover the Latest Innovations in the Industry

From May 20 to 22, Argentina’s mining industry will experience one of its most important events of the year: Arminera 2025. Over 300 companies will take over 20,000 m² at La Rural fairgrounds in Buenos Aires to showcase the latest innovations transforming the mining ecosystem at both local and regional levels.

The Future of Copper: Between Structural Challenges and Strategic Opportunity

The Future of Copper: Between Structural Challenges and Strategic Opportunity

The global race for copper is accelerating, with projections suggesting the world will need 70% more copper by 2050. This figure—equivalent to adding the output of 20 Escondida-sized mines each year—not only highlights the scale of the challenge but also underscores the vast opportunities for copper-producing countries, especially in South America.