G Mining Ventures Corp (TSX-V:GMIN, OTCQX:GMINF) announced that it has exported the first doré bars from its 100%-owned Tocantinzinho (TZ) gold project in Brazil to a refinery in Switzerland.
Every ounce was sold for more than $2,40, above budget, the company highlighted.
The project remains on time and budget for commencing commercial production in the second half of the year.
The construction team has demobilized and the project has now been handed over to the operations team, G Mining Ventures said.
It said the commissioning of all areas of the process plant has been completed, with plant feed reaching a peak of 10,000 tons per day during late July.
Production for July was 4,232 ounces with an average recovery rate of 85.1%.
The company is now focused on ramping up the process plant to its target production and recovery levels, expected by the year-end.
"Our first shipments of gold mark another milestone for TZ, and the State of Para in particular, as this shipment represents the first export from a large-scale, modern gold mining operation in the State,” G Mining Ventures CEO Louis-Pierre Gignac commented.
“With construction officially completed, we kept lost time injury to only one in more than 5.6 million person-hours worked. I want to congratulate the team on a tremendous safety record. I am excited as TZ progresses smoothly toward commercial production in the second half of 2024.”