PGDM

World Class Hub & Spoke Gold Mining Operation in Central Brazil

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PGDM (Pilar de Goiás Desenvolvimento Mineral), situated in Goiás state of Brazil, is the company’s flagship gold producing business. Acquired from Equinox Gold in April 2021, it consists of four mines both producing and in development stages – three underground and one open pit. The metallurgical plant can process up to 4,500 tonnes per day with a 96% extraction rate. The company is endowed with US$300 million worth of world class infrastructure.

It is currently producing approximately 45,000 oz Au/ year, with a plan to rapidly expand over the coming years through exploration and development.

Mine Locations

  • PGDM is located in Pilar de Goiás, Brazil

  • 3 underground mines: Pilar, Maria Lázara & Caiamar

  • 1 open pit development project: Três Buracos

  • Located on Goiás greenstone belt

  • Large exploration potential

  • Additional satellite deposits in Goiás to form part of Hub & Spoke Strategy

Infrastructure - Summary

  • 4,500 tonnes per day plant

  • Excellent working condition

  • High gold recoveries of 92-93%

  • TSF with spare capacity

  • Full mechanical infrastructure

Underground - Pilar

  • Core producing area for Pilar Gold, in operation since 2013A

  • Pilar mineralization is an orogenic gold system type, in metasedimentary rocks of Pilar Greenstone Belt.

  • Mining in Pilar is concentrated in two mineralized zones:

  • HG1: Fault and fill veins with hydrothermal halo in chlorite and graphite schists. Thickness between 0.8m and 1.5m.  Mine Method: Room and Pilar and Modified Room and Pilar with Long-hole.

  • HG2: Hydrothermal altered chlorite schists with quartz veining. Thickness between 0.5m and 30m, average of 10m. Mining Method:  Blind sublevel.

  • HG1 and HG2 mineralisations are set in a very continuous context, covering an area with a strike length of 3.3km, a width of 2.6km.  Mineralization system is opened to SE and down-dip.

Underground - Maria Lazara

  • Core producing area for Pilar Gold, in operation since 2013A

  • Pilar mineralization is an orogenic gold system type, in metasedimentary rocks of Pilar Greenstone Belt.

  • Mining in Pilar is concentrated in two mineralized zones:

  • HG1: Fault and fill veins with hydrothermal halo in chlorite and graphite schists. Thickness between 0.8m and 1.5m.  Mine Method: Room and Pilar and Modified Room and Pilar with Long-hole.

  • HG2: Hydrothermal altered chlorite schists with quartz veining. Thickness between 0.5m and 30m, average of 10m. Mining Method:  Blind sublevel.

  • HG1 and HG2 mineralisations are set in a very continuous context, covering an area with a strike length of 3.3km, a width of 2.6km.  Mineralization system is opened to SE and down-dip.

Underground - Caiamar

  • Gold mineralization at Caiamar occurs in four parallel zones and in a set of small ore shoot-like structures related to a transpressional shear zone. 

  • Diamond drilling has outlined zones of steeply plunging gold mineralization within an area with a strike length of approximately 1.4 km, a vertical extent measuring 600m, and thicknesses ranging from one metre to 20m.

  • Yamana feasability study from 2013 has identified 230 koz@ 3.3 g/t and reserves of 75 koz@ 3g/t Au

  • Higher grade, open potential

  • Caiamar expected to restart in late 2024

Open Pit - Tres Buracos (under development)

  • Tres Buracos open-pit deposit comprises the Pilar HG2 mine structure outcropping

  • Conventional low-cost open pit mining method 

  • Gold is mineralized over a strike length of approximately 1.7km, a width of 1.0km, and a thickness of between 25m and 60m

  • Very similar metallurgical characteristics to: Pilar and Maria Lazara

Resource & Exploration

  • Total resource estimate 4.07 Moz M,I&I

  • Multiple targets identified for further exploration

  • Potential to significantly increase resource with more drilling

  • Very large system