Highlights
- Installation License Application to be Filed in Early August
- Serra Alta Feasibility Completion Postponed for Approximately Three Months due to Material Opportunities That Require Changes in Scope
Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF) announced that it intends to file its License of Installation (“LI”) application with the Instituto Natureza do Tocantins or NATURATINS, the state environmental regulatory authority, on or around August 10, 2023, for the development of the Serra Alta deposit at the Monte Do Carmo project. Subject to acceptance of the application, the Company anticipates it will be granted the Installation License approximately three months thereafter, which will allow for construction activities to commence at the project.
In addition, the Cerrado is also updating the expected completion schedule for the Feasibility Study (“FS”) for the Serra Alta deposit at its Monte Do Carmo project in Brazil. In finalizing various components of the FS, Cerrado has identified material new opportunities that require changes in scope to ensure they are captured within the project economics. This will require approximately three additional months to complete the FS. As such, the updated completion is now targeted by the end October 2023.
