G Mining Ventures (TSX: GMIN) has received the operational licences for its 100%-owned Tocantinzinho Gold Project in the state of Pará, Brazil.
The licences were the final permitting milestone needed for commercial operations, which are expected in the second half of 2024. These include approvals for the mining operations, processing plant, tailings facilities and the new airstrip.
Since the start of hot commissioning on June 11, approximately 77,000 tonnes of ore have been processed through the plant at Tocantinzinho. The company also reported that approximately 2 million tonnes of ore have been stockpiled at the site.
Construction of Tocantinzinho was launched in September of 2022 following the completion of a definitive feasibility study in February of that year.
The property has direct access via 103 km of all-weather roads starting from the national highway, the BR-163, which links the industries in southern Brazil to the city of Belem in the north.
Over a mine life of 10.5 years, Tocantinzinho is expected to produce 1.83 million oz. of gold, averaging 175,000 oz. per year. Over the first five years, annual gold production is expected to reach 196,000 oz.
Earlier this month, G Mining sold its first gold doré produced at Tocantinzinho.
