Patagonia Gold reaches US$8 million in Calcatreu production

Patagonia Gold has completed three shipments of doré from its Calcatreu mining project near Ingeniero Jacobacci, Argentina. Total production has reached 2,208 gold-equivalent ounces, with an estimated value between US$8.4 million and US$10 million based on recent international market prices.

The production sequence included an initial shipment of approximately 518 gold-equivalent ounces in June, a second shipment of 694 ounces, and a third, larger shipment of 996 gold-equivalent ounces at the end of August. The most recent shipment specifically contained about 980 ounces of gold and 1,099 ounces of silver.

The project's start involved overcoming operational challenges, including a suspension and subsequent agreement with the provincial government. The extraction process utilizes controlled blasting, leaching with a cyanide solution, and electrowinning to produce the doré bars.