The Las Calandrias property contains a low-sulfidation epithermal system located in the eastern part of the Santa Cruz province in southern Argentina. The property is in the Deseado Massif, a 60,000 sq km area which hosts numerous low-sulfidation epithermal vein and vein-breccia deposits. Producing mines in the Deseado Massif include Newmont’s Cerro Negro mine, AngloGold Ashanti’s Cerro Vanguardia mine and Pan American Silver Corp.’s Cerro Moro mine.
The principal area of the property that has been explored is the Las Calandrias zone consisting of Calandrias Sur and Calandrias Norte. Calandrias Sur is a bulk tonnage rhyolite dome-hosted deposit and Calandrias Norte is a vein/breccia system that has been drilled along a 400 metre strike length.
Results from the Preliminary Economic Assessment (PEA) were announced in August 2024. The PEA focused on the development and mining of the Calandrias Norte open pit to be processed through the existing 1,000 tpd CIL plant and the ongoing operations and expansion of the Calandrias Sur heap leach operations. In addition, the PEA envisions the development of an initial small-scale underground mining operation and the processing of low-grade mined material in the Martinetas area from several stockpiles.
Cerrado reported updated Mineral Resources as of April 1, 2024, for Calandrias Sur and Calandrias Norte. Calandrias Sur Measured & Indicated Resources of 12.8 Mt grading 0.97 g/t gold and 15.34 g/t silver containing 400.7 koz gold and 6.3 Moz silver (based on variable cut-off grades). Calandrias Norte Measured & Indicated Resources of 78.8 kt grading 14.94 g/t gold and 23.1 g/t silver containing 37.8 koz gold and 58.6 koz silver (based on variable cut-off grades). For additional information, visit www.cerradogold.com.
