Soma Gold updates on progress of Fenix portal at Cordero mine; full daily production expected by end of 2021

Soma Gold Corp has updated investors on the progress towards beginning full mining operations at its Cordero mine in Colombia, saying the Fenix portal has now reached level 2 and encountered the vein. This means mining can begin at the asset although some additional development work is needed to access the stopes and begin full mining operations. This will be completed in August this year. The Fenix portal will then also hit the vein at Level 3, which is 310 meters away and is expected to be completed in September this year. READ: Soma Gold says El Bagra project joins Colombian coronavirus vaccination program  Ultimately, the Fenix portal will be connected to the Atena portal at the other end of the deposit, and the full daily tonnage of production will be achieved. Completion of the Fenix portal is an important milestone for Soma as the gold miner transitions to mechanized mining, Soma CEO Javier Cordova told shareholders. "The Cordero mine production rate will increase to 400 TPD by Q4 2021, which will supplement the current 325 TPD production from the La Ye and Mangos mines, The additional ore will allow Soma to fully utilize its installed milling capacity of 650-700 TPD. The ore from Cordero mine is higher grade than the ore from Mangos and La Ye mines resulting in a higher average grade and a doubling of through-put,"  the CEO said in a statement. "We expect a strong finish to 2021 and excellent prospects for 2022 and beyond. Mining activities at the company's 100% owned Nechi mine is expected by mid-2022, extending the expected life of mine beyond 2030," he added. Soma Gold owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tonnes per day (tpd) and is permitted for 1,400 tpd. Its El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.  Soma also owns an exploration and development property near Tucuma, Para State, Brazil. Contact the author at giles@proactiveinvestors.com