Name of the Project
Tocantinzinho gold project.

Location
Para state, Brazil.

Project Owner/s
G Mining Ventures Corp.

Project Description
The project has robust economics for a low-cost, large-scale, conventional openpit mining and milling operation, with industry-leading operating costs and a high rate of return.

The project outlines total gold production of 1.8-million gold ounces over 10.5 years, resulting in an average gold production profile of 174 700 oz/y.

The feasibility study project mine plan is based on proven and probable mineral reserves of 48.7-million tonnes at an average gold grade of 1.31 g/t for 2.04-million contained ounces of gold as of December 10, 2021.

Potential Job Creation
About 2 200 employees and contractors are currently employed at the project, of which 95% are local Brazilians.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of $622-million and an after-tax internal rate of return of 24%, with a payback of 3.2 years.

Capital Expenditure
Initial capital costs are estimated at $458-million.

Planned Start/End Date
The project is construction-ready and first production is expected in the second half of 2024.

Latest Developments
The Tocantinzinho gold project is 51% complete and remains on track and budget for commercial production in the second half of 2024.

In a project update, G Mining reports that procurement and detailed engineering are effectively complete and that construction is 46% complete. Work has been initiated on almost all project areas.

Preproduction mining activities have reached 33 000 t/d and have been operating on a 24/7 basis since the start of night shifts in May.  About 4.8-million tonnes of material have been excavated from the starter pit.

Since initiating works in December, construction of the 193 km, 138 kV transmission line from Novo Progresso to Tocantinzinho is advancing quickly. Total progress has reached 78% and is trending on schedule and on budget for completion in early 2024.

Key Contracts and Suppliers
None stated.

Contact Details for Project Information
G Mining Ventures Corp, email info@gminingventures.com.