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Brazil
Monte do Carmo Project

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 Location:
37 km E from Porto Nacional, Brazil

  Project Contacts:
Rua Pedro De Oliveira Negre, S/N, Centro - Sala 1
Monte do Carmo
Brazil
77585-000
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Mine Life8 years (as of Jan 1, 2021)
Monte Do Carmo hosts the Serra Alta deposit; a greenfield discovery located in Tocantins State, Brazil. Phase II drill program underway to significantly grow resource.
Latest NewsCerrado Gold Completes Feasibility Infill Drill Program and Is Finalizing Plans for an Aggressive Exploration Program at Its Monte Do Carmo Project in Brazil     January 31, 2023


Owners

Source: p. 19,26,50,54,64
CompanyInterestOwnership
Cerrado Gold Inc. 100 % Indirect
The Monte de Carmo project is owned by a Brazilian entity called Serra Alta Mineração Ltda. (SAML), which in turn is a wholly owned subsidiary of Cerrado Gold Inc.

Cerrado Gold Inc. is the 100% owner of the Monte Do Carmo development project.

The MDC project was acquired from Monte Sinai Mineração Ltda. (“Monte Sinai”) in April 2018.

In 2010, the mineral rights to the concessions in the Monte do Carmo area were transferred to MSM, the current holder (pending formal assignment to SAML).

Contractors

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Deposit Type

  • Intrusion related
  • Vein / narrow vein
  • Hydrothermal


Summary:

Cerrado’s principal target of interest is the Serra Alta Deposit.

The intrusive at Serra Alta is a syenogranite, composed predominantly of orthoclase, quartz and albite, with a peraluminous character. It has a moderate alkali content with high potassium, indicating a subalkaline composition. Despite the fact that it possesses certain affinities with A type granites, the samples of the granite studied also have characteristics of highly fractionated I type granites, whose petrographic and geochemical characteristics may be confused with the former. The hypothesis is that such similarities are derived from multi-stage actions involving reworked protoliths submitted to extensive fractionation.

The Serra Alta Deposit is a wide mineralized zone about 300 m wide with approximately 1,500 m of exposed strike length, as demonstrated by the bandeirante and garimpeiro working. The zone is a corridor which contains veined, mineralized shoots generally striking N10°, dipping 60° to 80° W.

MSM and Cerrado geologists were discussing the possible interpretation of three distinct sub-corridors or trends of mineralization within this wider corridor. It is possible that the far western trend is composed largely of colluvium shed from the slope and the artisanal workings there may haveno immediate bedrock source. There are exposed bedrock sources of veining on the eastern side up against the cuesta wall. Extensions of the sheared granite cupola mineralization on ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Monte do Carmo Project will be an open pit operation with an average production rateof 2.65 Mtpa of ROM. Surface mining will use a contract mining fleet of hydraulic excavators, frontend loaders and haul trucks, as well as correspondent ancillary equipment.

Final Pit Design
The Mine Design or Pit Design consists of the designing an operational pit that allows a safe and efficient mining operation, based on the optimal pit. The methodology consists of establishing an outline of the toes and crests of the benches, safety berms, work sites and mining site access ramps while adhering to the geometric and geotechnical parameters that were defined. Given the nature of the report, GE21 did not include any access designs from pit to processing plant or waste dump. The following assumptions were adopted for the operational final pit shells for each period of mining:
- Maximize ROM recovery;
- Define access routes to attain shorter average transport distances.

Final Pit Design Parameters:
- Overall Slope - Angle 55°;
- Face Angle - 78°;
- Bench Height - 10 m;
- Berm Width - 5 m;
- Road Ramp Width 15 m;
- Road Ramp Gradient - 10%;
- Curves Radius - 22 m.

Mine Operation
Mine operation will begin on the South portion of the pit. Drilling and blasting of the fresh rock, mostly represented by granites, will be necessary to allow rock handling as materials classified as sedimentary are mainly situat ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 1311,049
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Annual processing capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
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Reserves at July 21, 2021:
Economic cut-off grades 0.30 g/t Au (Open Pit) and 1.10 g/t (Underground).

CategoryOreTypeTonnage CommodityGradeContained Metal
Indicated In-Situ (OP) 9,063 kt Gold 1.85 g/t 539 koz
Indicated In-Situ (UG) 45 kt Gold 1.66 g/t 2 koz
Indicated Total 9,108 kt Gold 1.85 g/t 541 koz
Inferred In-Situ (OP) 12,128 kt Gold 1.82 g/t 708 koz
Inferred In-Situ (UG) 1,069 kt Gold 2.1 g/t 72 koz
Inferred Total 13,197 kt Gold 1.84 g/t 780 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
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Operating Costs:

Units2021
OP mining costs ($/t mined) USD 1.75 *
Processing costs ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2021 study.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Working capital $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 207.8
G&A costs $M USD 31.5
Total OpEx $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Heavy Mobile Equipment:

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2022
....................... Subscription required ....................... Subscription required Subscription required Jul 21, 2021
....................... Subscription required ....................... Subscription required Subscription required Jul 21, 2021
....................... Subscription required ....................... Subscription required Subscription required Nov 4, 2022
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Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
Technical Report 2018
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News:

NewsDate
Cerrado Gold Completes Feasibility Infill Drill Program and Is Finalizing Plans for an Aggressive Exploration Program at Its Monte Do Carmo Project in Brazil January 31, 2023
Cerrado Gold Reports Additional Infill Drill Results From the Serra Alta Deposit at Its Monte Do Carmo Project in Brazil December 15, 2022
Cerrado Gold Reports Strong Progress at Its Minera Don Nicolas Mine and Positive Advances at Its Monte Do Carmo Project December 13, 2022

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