Zijin-Continental Gold’s Buriticá Project is the most advanced underground gold mining operation in Colombia. The Project is located in the Municipality of Buriticá, in Northwestern Antioquia.
Buriticá is one of the world’s largest high-grade gold projects, with production scheduled to begin in 2020. Mineral reserves are estimated to be 3.7 million ounces of gold with 8.4 g/t of gold (13.7 million tons).
Updated mineral resource estimates include 5.32 million ounces of gold with 10.32 g/t of gold (16 million tons), which are Indicated and Measured, and 6.02 million ounces of gold with 8.56 g/t of gold (21.9 million tons), which are Inferred.
Mine construction is advancing according to schedule with strict compliance of all related requirements. International best practices are being observed in construction, environmental issues, sustainability, and external relations.
Buriticá is a high-grade flagship project which is entirely owned by the Company. It operates with all required licenses and permissions. Its high-grade tenor of gold mineralization, combined with size, simple metallurgy, excellent infrastructure, and growth potential, makes it particularly attractive.
The Company published an updated independent technical report on March 18, 2019, indicating that the Project will have lower production costs than predicted (in the lowest quartile), and will be economically robust mine. Once commercial production begins, the mine will significantly contribute to Colombia’s goal of doubling its formal gold production, and will likely become the largest gold mine in the country.
In joint efforts with several Colombian Government organizations, the Company will be the first mine to formalize small-scale mining associations in the country. This opens up new doors for implementing legal and responsible small-scale mining operations within the Buriticá Project.
The Company has also operated a 30 TPD small-scale mine in Buriticá since 2007 and is one of the largest employers in Northwest Antioquia. The Company strives to provide a safe working environment and to partner with communities to develop critical local and regional social projects.