Cerrado Gold, an emerging mid tier Gold miner in Latin America, owns Minera Don Nicolas, located in Santa Cruz, Argentina, a newly producing high-grade gold mine with significant optimization, expansion, and exploration potential.
In Brazil, the Company is focused on expanding the resource base at its prolific, high-grade Monte do Carmo gold project in Tocantins State.
The company completed its Phase 1 Drill Program in Brazil
CERRADO GOLD (TSX.V:CERT) REPORTS SUCCESSFUL COMPLETION OF ITS PHASE I DRILL PROGRAM AT ITS MONTE DO CARMO PROJECT IN BRAZIL
Results of the Drill Program expected to support original target of 1.2 – 1.6 million ounces at the Serra Alta Deposit.
New Mineral Resource Estimate targeted for late June and new Preliminary Economic Assessment for end of July.
TORONTO, ONTARIO - Cerrado Gold Inc. ("Cerrado" or the "Company") is pleased to announce that is has completed its Phase I Drill program of exploration and infill definition drilling at the Serra Alta deposit, at its Monte do Carmo ("MDC") Project located in Tocantins State, Brazil. The final drill program saw 55 holes completed totaling 18,998 metres.The additional metres drilled, relative to the original targeted metres, were drilled to ensure Cerrado hit disclosed targets of upgrading and expanding the Company's maiden mineral resource estimate.
Drill Program Highlights:
55 Holes totaling 18,998 metres at Serra Alta
— 34 (62%) out of the 55 holes have intersected visible gold (VG)
— 16 holes with complete assays and have been reported.
— 8 holes have partial results, 2 of which have partial results reported, remainder 31 holes are pending results.
You can see an interactive tour of the Monte do Carmo property here: https://bit.ly/2QOntZi
After a stellar 2020 when #Gold returned between 14% in the Mighty Swissy to +24.6% in US Dollars and just under 28% for those living in India, 2021 has started on a weak note.
Returns for Gold in Q1 range from -3.4% in Yen to almost -10% in USD and -11% for Canada's Loonie. Is it just catching its breath before it vaults on to new highs, or are its best days behind us?
Consumption and production patterns need to change in the energy transition
5 hours ago
The mining industry is currently alight with talk of a new commodity "supercycle".
The last one coincided with China's rapid industrialisation growth spurt, and whether it is a supercycle or not, a major boom looks likely because of infrastructure-led spending to speed recovery from the pandemic coupled with the energy transition. Indeed, the talk of Green New Deals seeks to wed this energy transformation with that economic stimulus.
Mining companies, and their investors, are obviously enthusiastic about such an expansion. Mining entrepreneur Robert Friedland gloated that "if we get a Green New Deal where bankers just hit the zero keys . . . it would make our day".
However, miners are also taking advantage of their role supplying metals to renewables, batteries and electrical infrastructure to create a new green narrative for mining — the "black-to-green revolution".
In this new world, mining companies are the climate heroes saving the world, although it also conveniently downplays overall demand for critical metal end-uses, in the likes of construction, aviation, electronics and the arms industry. For example, even in the highest demand scenarios, under no circumstances will the renewable energy sector consume the majority of the annual production of copper.
The new demand supporting the energy transition does not change the act of mining. Extracting minerals, such as lithium, cobalt or copper, is still a dirty business with significant environmental and human impact.
This new boom threatens to open new extractive frontiers, in the global south but also in North America and Europe. There is an urgent need to deal with the potential widespread destruction and human rights abuses that could be unleashed.
Although it is crucial to tackle the climate crisis, and rapidly transition away from fossil fuels, this cannot be achieved by just expanding our reliance on other materials. The energy crisis is fundamentally a resource-usage crisis.
Our use of natural resources has more than tripled since 1970 and is on a continued growth path. According to the International Resource Panel, 90 per cent of biodiversity loss and water stress are caused by resource extraction and processing and these same activities contribute to about half of global greenhouse gas emissions.
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On the demand side, there are a number of practical solutions that should be initiated or accelerated to enable better-informed choices about our energy and consumption, and to reduce the need for new resource extraction. However, it is not enough to switch to green growth, such as simply increasing the production of new electric vehicles.
