Produced 4,020 AuEq Ounces in Q2 2021
July 8, 2021, Vancouver, British Columbia, - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the “Company” or “Soma”) is pleased to announce that it is participating in a program initiated by leading Colombian companies in cooperation with the Colombian Government to provide Covid-19 vaccinations to its employees working at the Company’s El Bagre mine site and their families. This program includes acquiring, importing and administering the vaccines at a clinic in El Bagre.
The Company also announces that during the second quarter ending June 30, 2021, it produced 4,020 AuEq ounces and sold 3,799 AuEq ounces.
Construction progress at the Fenix and Athena portals accelerated during the quarter, with the Fenix decline expected to reach the vein at Level 2 at the southern end of the deposit by the end of July and the Athena decline scheduled to reach Level 2 at the northern end of the deposit by September 2021. Full production of 400 TPD from the Cordero mine is expected before the end of the year. The grade at Cordero is expected to be between 6.5 and 8.5 gpt Au.
Javier Cordova, Soma’s President and CEO, states, “The Company has managed well through the Covid-19 pandemic with rigid health and safety protocols and is very pleased to be able to offer its employees and their families access to the vaccine. We are thankful to the Colombian Government and our other business partners for making this cooperative program possible. It will be a great relief for all when the team in Colombia is fully vaccinated.” Mr. Cordova also states, “We are pleased with the significant progress made on accessing the Cordero deposit. The 400 TPD we plan to mine at Cordero will supplement the 300-350 TPD we are presently mining at the Mangos Mine. It should allow the Company to increase throughput to 650 TPD in the first half of 2022 by re-starting the El Limon mill. In addition, the average grade will increase as the grade at Cordero is more than 50% higher than the grade at Mangos. These accomplishments are anticipated to have a dramatic and positive effect on AuEq production and profitability.”
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.
The Company also owns an exploration and development property near Tucuma, Para State, Brazil.
On behalf of the Board of Directors
“Javier Cordova Unda” Chief Executive Officer and President
For further information, please contact Andrea Laird, telephone: +1-604-259-0302
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All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.