- Gold Assets in Colombia sold in 2015 for $5M
- $3M Payable by Production Royalty
- Long Term Production Goal of 25,000oz per Year
Located in Northwest Colombia near the town of Zaragoza, Antioquia, the site is part of the Zaragoza Gold District, which hosts a number of primary underground gold mines and is considered one of the most prolific gold zones in Colombia.
The El Limon mine and Mill are operated by Soma Gold Corporation, a junior gold miner listed on the TSX Venture Exchange, and the concessions cover some 22,990 hectares.
Soma has paused El Limon production until Q4 of 2020 in order to drill out a Resource and conclude the acquisition of various mining licenses and permits, while ramping up processing of small miner production.
Exploration targets an initial 746,000 oz at 5.9 g/t.
The El Limon mine is historically one of the highest grade mines in the Bagre-Nechi gold mining district, which is believed to have produced over 60m oz of gold historically, mainly from alluvial workings, but with only limited modern exploration.
Mine production is expected to resume in Q4 of 2020, targeting a 6 g/t plant throughput.
More information may be found regarding current operations at the plant and mine from http://www.somagoldcorp.com.
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