en.Wedoany.com Reported - Aguia Resources is advancing mine development and cost control at its Santa Barbara gold project in Colombia, with operational progress achieved in May. Company CEO Timothy Hosking stated that production expectations have been adjusted, but ore grades and recovery rates continue to improve.
Following optimization recommendations made in April, Aguia Resources has adopted new mining methods for high-grade narrow veins. Work has focused on horizontal development along two sublevels and one raise on Vein 2.
As development work continued in May, the company maintained target recovery rates while keeping the head grade of the production area above 10 grams of gold per ton. Nine months ago, the average head grade at the Santa Barbara project was 3 to 4 grams of gold per ton, and the company previously noted a significant improvement in grades before reaching current levels.
The two planned shafts are 30 meters apart, and construction of the main drift on Vein 1 has been completed. Production has begun at the sublevel located 6 meters below the main haulage drift. A total of nine mining faces have been opened during the development phase, which will continue to extend laterally, with plans to sink a third shaft to further deepen to the second sublevel, supporting future stope preparation.
Last month, the operations team focused on strict capital allocation and core mine development, with management prioritizing underground development and capital works over short-term extraction volumes. Hosking stated that the mine development and capital works carried out have laid the foundation for future production growth, and the company's continued high focus on cost control has strengthened confidence in the project.
Aguia Resources is a multi-commodity exploration company with phosphate assets in Brazil and gold assets in Colombia.
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