Cerrado Gold Reports 21% Year-Over-Year Increase in Q3 2026 Production Results at Minera Don Nicolas
Original announcement by jmn on
- Company
- Cerrado Gold Inc.
- Ticker
- CERT
- Exchange
- TSXV
- Region
- Santa Cruz Province, Argentina
- Primary commodity
- Gold
- Secondary commodities
- Silver
- Document categories
- Production, Metallurgy
- Extracted
- 2026-10-19 10:18:19 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Cerrado Gold reported a 21% year-over-year increase in Q3 2026 Gold Equivalent Ounces (GEO) production at its Minera Don Nicolas mine in Argentina, reaching 16,685 GEO. This strong performance was attributed to operational improvements and the strategic routing of high-grade ore to the CIL plant, which achieved higher recoveries. The company expects to meet the upper end of its annual guidance of 50,000 to 60,000 GEO for 2026.
Reasoning: Cerrado Gold reported strong Q3 2026 production results at Minera Don Nicolas, with a 21% year-over-year increase in Gold Equivalent Ounces, driven by operational improvements and strategic routing of high-grade ore to the CIL plant for higher recoveries. The company is on track to meet the upper end of its annual guidance.
Positive factors
- production_increase
- operational_improvement
- strategic_ore_routing
- higher_commodity_price
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 25
Classification and evidence
Production Increasepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: Q3 2026 production of 16,685 GEO is up 21% from Q3 2025 production of 13,832 GEO.
Evidence · text
“Q3 production of 16,685 GEO, up 21% from 13,832 GEO in Q3 2025.”
Operational Improvementpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company reports operational improvements completed over the past year, including a new crushing plant undergoing commissioning, a new tailings dam operating, and a new heap leach pad expected to be completed.
Evidence · text
“Operations in Q3 2026 delivered continued strong production, reflecting improvements completed over the past year. Heap leach operations continued to benefit from the resolution of prior irrigation issues and improvements to the crushing circuit. The new crushing plant is undergoing commissioning and is expected to support increased feed delivery to the pad. The new tailings dam is now operating and provides approximately five years of capacity at planned operating rates. The new heap leach pad is expected to be completed by late Q1 2027 and will provide 12 million tonnes of additional capacity.”
High Recoverypositive · Story-specific tag
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: Selected high-grade material routed to the CIL mill achieved gold recoveries of up to 95% in laboratory bottle-roll testing.
Evidence · text
“selected material achieving gold recoveries of up to 95%”
QP/CP Signedpositive · Story-specific tag
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The scientific and technical information in this press release has been reviewed and approved by Andrew Croal, P.Eng., Chief Technical Officer for Cerrado Gold, who is a Qualified Person as defined in National Instrument 43-101.
Evidence · text
“The scientific and technical information in this press release has been reviewed and approved by Andrew Croal, P.Eng., Chief Technical Officer for Cerrado Gold, who is a Qualified Person as defined in National Instrument 43-101.”
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: the document describes a heap_leach route ("heap leach")
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("CIL")
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("Falcon")
Extracted facts
Stored fact records: 19. Some facts used in scoring do not have a stored record.
Metallurgical Results (19)
Fact 1Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Heap leach production remained steady, benefiting from operational improvements.
Positive factors
- operational_improvement
Evidence · table
“9,649”
Context: Gold Geo Produced
Fact 2Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: CIL production increased due to strategic routing of high-grade feed.
Positive factors
- production_increase
- strategic_ore_routing
Evidence · table
“7,036”
Context: Gold Geo Produced
Fact 3Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported head grade for heap leach operations.
Evidence · table
“0.89”
Context: Head Grade Au
Fact 4Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Higher head grade for CIL operations due to strategic routing of high-grade material.
Positive factors
- strategic_ore_routing
Evidence · table
“2.29”
Context: Head Grade Au
bottle rollMinera Don Nicolas · goldRecovery: 95 %View all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Program Status
- preliminary
- Test Type
- bottle roll
- Processing Route
- mill_cil
Recovery
- Recovery
- 95 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: High gold recovery achieved in laboratory bottle-roll tests for selected high-grade material, indicating strong potential for CIL processing.
Positive factors
- high_recovery
Negative factors
- bench_scale_only
- single_domain_only
Evidence · text
“selected material achieving gold recoveries of up to 95%”
Tags used in scoring
High Recoverypositive
Recovery at or above the exceptional band for the commodity and processing route.
Why it applies: 95% is at or above the exceptional band (95%)
Fact 6Minera Don Nicolas · goldRecovery: 33 %View all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Recovery
- Recovery
- 33 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported gold recovery for heap leach operations.
Evidence · table
“33%”
Context: Recovery Au
Tags used in scoring
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 33% is below the weak band (80%)
Fact 7Minera Don Nicolas · goldRecovery: 90 %View all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Recovery
- Recovery
- 90 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported gold recovery for CIL operations.
Evidence · table
“90%”
Context: Recovery Au
Fact 8Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported ore mined for heap leach operations.
Evidence · table
“1,150”
Context: Ore Mined
Fact 9Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported ore mined for CIL operations.
Evidence · table
“24”
Context: Ore Mined
Fact 10Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported strip ratio for heap leach operations.
Evidence · table
“0.97”
Context: Strip ratio
Fact 11Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported strip ratio for CIL operations.
Evidence · table
“1.00”
Context: Strip ratio
Fact 12Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported mining rate for heap leach operations.
Evidence · table
“24,630”
Context: Mining rate
Fact 13Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported mining rate for CIL operations.
Evidence · table
“525”
Context: Mining rate
Fact 14Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported PAD throughput for heap leach operations.
Evidence · table
“9,945”
Context: PAD Throughput
Fact 15Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported mill throughput for CIL operations.
Evidence · table
“1,093”
Context: Mill Throughput
Fact 16Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported gold ounces produced from heap leach operations.
Evidence · table
“8,453”
Context: Gold ounces produced
Fact 17Minera Don Nicolas · goldView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- gold
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported gold ounces produced from CIL operations, contributing to overall increase.
Positive factors
- production_increase
Evidence · table
“6,607”
Context: Gold ounces produced
Fact 18Minera Don Nicolas · silverView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- silver
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- heap_leach
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported silver equivalent ounces produced from heap leach operations.
Evidence · table
“1,196”
Context: Silver equivalent ounces produced
Fact 19Minera Don Nicolas · silverView all detailsHide details
Identity
- Project
- Minera Don Nicolas
- Commodity
- silver
- Region
- argentina
- Reported Region
- Santa Cruz Province, Argentina
- Ticker
- CERT
Test Work
- Processing Route
- mill_cil
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-19T00:00:00.000Z
Reasoning: Reported silver equivalent ounces produced from CIL operations.
Evidence · table
“430”
Context: Silver equivalent ounces produced
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.