Date: March 13, 2020
Caldas Gold is a spin off of Gran Colombia Gold, who's currently the largest producer of gold in Colombia. Caldas is pleased to have commenced trading on the TSX Venture under the symbol CGC.
Further, Caldas Gold is a Canadian mining company currently advancing a prefeasibility study for a major expansion and modernization of its underground mining operations at its Marmato Project in Colombia.
The Marmato Project is located within a historic mining district. It also contains mineral resources of 2.0 million ounces of gold in the Measured and Indicated categories and 3.3 million ounces of gold in the Inferred category. Moreover, the project has excellent infrastructure, being located by the Pan American Highway. In 2019, the Marmato underground mine produced 25,750 ounces of gold. Additionally, in 2020, implementation of a mine optimization program is expected to increase gold production to between 32,000 and 37,000 ounces. Caldas Gold expects to complete a prefeasibility study for the underground mine expansion by mid-2020.
"We have a world class deposit with over 6 million ounces of resources to be developed. We're fully permitted, we have all the infrastructure in place. We are in a place that has been operating for the last 20 years.", says CEO, Serafino Iacono.
Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia. There, it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. Indeed, Gran Colombia owns 72% of Caldas Gold Corp. Further, Gran Colombia’s project pipeline includes its Zancudo Project in Colombia together with a 21% equity interest in Gold X Mining Corp. and a 20% equity interest in Western Atlas Resources Inc.
For more information on Caldas Gold Corp. (TSX.V:CGC) please fill out the form below.