The Coringa project is located in the Tapajós Gold Province in Para State, Brazil approximately 200 km from Serabi’s Palito mine, an operation that has been producing gold since 2014. Like Palito, Coringa contains high grade gold in quartz veins with base metal sulphides. The veins are hosted by granite, rhyolites and volcanic breccias.
The Coringa project has been in production since July 2022 as an underground operation using shrinkage stoping mining methods. The Coringa ore is processed at the Palito Complex, utilizing the existing process plant capacity.
An updated Preliminary Economic Assessment (PEA) was released in October 2024 for Coringa that envisions an initial 11-year mine life with average mine production of approximately 34,000 oz per year with estimated gold recovery over the life of the mine at 97%.
The updated Coringa Measured & Indicated Resources are 795 kt grading 7.03 g/t gold containing 179 koz of gold (3.16 g/t cut-off) and Inferred Resources are 1,454 kt grading 5.81 g/t gold containing 271 koz of gold (3.16 g/t cut-off).
