G Mining Ventures has started hot commissioning at its wholly owned Tocantinzinho (TZ) Gold Project in Pará, Brazil.

The project is designed to yield approximately 175,000oz of gold annually over an initial 10.5-year mine life.

G Mining anticipates commercial production to commence in the second half of 2024.

After obtaining the necessary hot commissioning permit from Pará State Environmental Agency, ore was introduced into the grinding circuit.

The permits enable the mining and processing of ore, disposal of tailings, and the selling and exporting of gold.

G Mining said that approximately two million tonnes (t) of ore have been stockpiled at the site, with 1.5 million tonnes at a grade of 0.77g/t in the low-grade stockpile and 0.5 million tonnes at 1.29g/t in the high-grade stockpile.

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Initially, the hot commissioning phase will start with the low-grade ore and will gradually transition to higher-grade ore as the operation moves towards its target throughput of 4.7 million tonnes per annum and as mining reaches the higher-grade hard rock.

G Mining CEO and president Louis-Pierre Gignac said: “Less than two years after the formal construction decision, TZ is on track to commence gold production imminently, as planned.

“Once at a steady state, TZ is poised to become Brazil’s third-largest primary gold mine. As we eagerly anticipate commercial production at TZ in the second half of 2024, I look forward to growing G Mining Ventures Corp. using TZ as its cornerstone asset.”

Located in the Tapajos region of Pará, 200km south-south-west of Itaituba, the Tocantinzinho open-pit gold deposit comprises a 996km² land package and is estimated to hold two million ounces of reserves.

Over its first five years, the mine is expected to have an annual gold production capacity of 196,000oz.