SOMA GOLD Corp. Announces Q2 GOLD Production and Blockade at the Cordero MINE and El Bagre GOLD Complex
SOMA GOLD CORP. ANNOUNCES Q2 GOLD
PRODUCTION AND BLOCKADE AT THE
CORDERO MINE AND EL BAGRE GOLD
COMPLEX
VANCOUVER, BC
,
July 8, 2024
/CNW/ -
Soma Gold Corp.
(TSXV: SOMA) (WKN: A2P4DU) (OTC:
SMAGF) (the "
Company
" or "
Soma
") announces a temporary suspension of mining and processing
activities at its el Bagre mine and mill in Antioquia,
Colombia
, due to a community blockade. This
action by the local community has restricted access for employees and supplies, leading to a Care
and Maintenance status for the site. The blockade began on
Wednesday, July 3
, driven by
community frustration over delays in local road maintenance and paving. Despite ongoing efforts by
Soma and municipal authorities to address these concerns through a cost-sharing plan for paving
approximately 3.5 km of regional road, the community has expressed dissatisfaction with the pace of
progress.
Soma has successfully negotiated with the community to allow access for critical supplies, security,
and maintenance crews, ensuring essential operations continue. Discussions between all parties are
ongoing, with a mutual goal of resolving the situation promptly.
Soma recently completed a planned maintenance shutdown of the el Bagre mill, which included a
successful rebuild of the ball mill. Operations resumed on schedule in late June.
Q2 2024 gold production was 6,590 AuEq ounces, with 7,209 AuEq ounces sold. Total AuEq ounces
sold for the first half of the year amounted to 14,233, representing 99.7% of the planned 14,277
AuEq ounces for the period.
Geoff Hampson
, Soma's President and CEO, states, "We are actively collaborating with the local
community and are confident that a solution will be achieved in the coming days. While the blockade
has caused a temporary production halt, we anticipate accessing a higher-grade area of the mine in
the second half of the year and remain optimistic about meeting our full-year production targets at
Cordero."
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.
With a solid commitment to sustainability and community engagement, Soma Gold Corp. is
dedicated to achieving excellence in all aspects of its operations.
The Company also owns an exploration property near Tucuma, Para State,
Brazil
that is currently
under option to Ero Copper Corp.
On behalf of the Board of Directors
"Geoff Hampson"
Chief Executive Officer and President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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.
SOURCE
Soma Gold Corp.
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For further information:
For further information, please contact Andrea Laird, telephone: +1-604-
259-0302
CO: Soma Gold Corp.
CNW 06:15e 08-JUL-24