Global Gold Exploration Snapshot: Eight juniors seeking the yellow metal

Gold is a mainstay of exploration, and the price of the yellow metal has been creeping up amid geopolitical and economic uncertainty. Here are eight companies searching for the precious metal in South America, Australia, Canada, the U.S. and West Africa.

Cerrado Gold

Toronto-based Cerrado Gold (TSXV: CERT; US-OTC: CRDOF) is nearing completion on a feasibility study for the Serra Alta deposit at its Monte Do Carmo project’s Serra Alta deposit in Brazil. The study is expected to significantly increase resources based on assay results from a 193-hole drill program in 2022. The current open pit and underground indicated resource totals 9.1 million tonnes grading 1.85 grams gold per tonne for 541,000 oz., with inferred resources at 13.2 million tonnes grading 1.84 grams gold for 780,000 oz. Cerrado is currently working on mine engineering, process plant design, tailings facilities and associated infrastructure in anticipation of a production decision.

The company is already a gold miner with operations in Argentina and Brazil and expects to almost double 2022 production of 53,672 oz. of gold at its Minera Don Nicolas mine in Santa Cruz, Argentina by mid-2024. The production increase will come from the development and operation of two heap leach projects and the mining of high-grade underground resources.

Cerrado has secured all of the necessary environmental permits for its Las Calandrias heap leach project at Minera Don Nicolas with first ore expected to be stacked in April and the first gold pour scheduled before the end of May. An amended metals purchase agreement with Sprott Private Resource Streaming and Royalty announced Mar. 3 includes production from Las Calandrias and a $10-million advance on future production.

Mining at the 3,333.4-sq.-km property occurs at two open pits feeding a 1,000-tonne-per-day carbon-in-leach gold recovery plant.