Aguia Resources Limited (AGR:ASX) has announced the commencement of gold sales from its Santa Barbara Gold Project in Colombia, generating approximately A$193,000 in revenue. This milestone follows a stringent government certification process, streamlining future sales. A similar sale is anticipated within the next week, sourced from already produced gold. The company is in discussions with both local and international refineries and has initiated an export license application to diversify its sales options.
Executive Chairman Warwick Grigor expressed satisfaction with the initial sales, anticipating an expanding income stream as the project ramps up. He highlighted the ongoing development plans and drilling activities, marking a transition for Aguia from exploration to production.
The Santa Barbara Gold Project has been undergoing recommissioning since December, involving the development of underground workings, mining of mineralized veins, and processing through a 30 tpd plant. Four additional agitation tanks are being installed to increase the plant’s capacity to 50 tpd. The company is focused on enhancing underground productivity by optimizing mining methodologies and incorporating equipment such as scrapers and improved ventilation.
Expansion plans include the construction of a new adit on the Mariana vein system, complementing existing operations. Furthermore, Aguia is exploring options to increase feed to the plant beyond 50 tpd through flotation test work on Santa Barbara material. Initial findings suggest that flotation, due to the fine-grained nature of the gold and its association with sulphide minerals, could produce a gold-rich concentrate. If successful, a flotation section will be added ahead of agitation, potentially increasing the processing facility’s capacity.
