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CALDAS GOLD PROVIDES AN UPDATE ON COVID-19

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CALDAS GOLD PROVIDES AN UPDATE ON COVID-19

 

 

 

 

 

Caldas Gold Corp. (TSX-V: CGC) announced that it is continuing to monitor the impact of the novel COVID-19 virus globally. To date, COVID-19 has not impacted production or product shipments at the Company’s mine nor has there been any significant negative impact on, or disruption of, the Company’s supply chain. However, the Company has activated its business continuity program at its mine site in Colombia in response to a national quarantine announced on March 21, 2020 by the Colombian Government that is expected to go into effect on March 25, 2020 and continue through to April 13, 2020.

 

Commenting on the situation, Lombardo Paredes, President of Caldas Gold, stated “We have activated our business continuity program at Marmato in light of the forthcoming national quarantine. We expect that our mine will continue to operate during the quarantine period, leveraging stockpiled material and supported by a contingent of employees who will remain isolated within the mine camp during the quarantine period to carry out mine, plant and other operations. Throughout this situation, we have been maintaining strict measures and we are leveraging Gran Colombia’s experience gained during the 42-day civil disruption at its Segovia Operations in 2017 to ensure we keep our operations going. While we have a strong balance sheet, we have taken steps to slow down non-discretionary operating and capital expenditures to preserve our liquidity during this unusual situation. We are also working closely with the Mayor of Marmato to provide aid required by the local community during the quarantine period.”

 

Caldas Gold will continue to monitor developments in the situation and revise its response plans accordingly.

 

About Caldas Gold Corp.

 

Caldas Gold is a Canadian junior mining company currently advancing a prefeasibility study for a major expansion and modernization of its underground mining operations at its Marmato Project in the Department of Caldas, Colombia with mineral resources of 2.0 million ounces of gold in the Measured and Indicated categories and 3.3 million ounces in the Inferred category. A Preliminary Economic Assessment study (Preliminary Economic Assessment Report, Marmato Project, Colombia, dated February 6, 2020 completed by SRK Consulting (U.S.), Inc.,) is available on the Company’s SEDAR profile at www.sedar.com.

 

Posted March 23, 2020

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