VANCOUVER, BC, June 6, 2023
/CNW/ - Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU)
(OTC: SMAGF) (the "Company" or "Soma") is pleased to
announce that the Company produced 3,035 AuEq ounces and sold 3,139
AuEq ounces of gold during the month of May. Gold recovery for the
month was 88.0%. The trend of improving gold recovery rates
continues, with a progression from 86.7% in 2021, 87.2% in 2022, to
the current year-to-date rate of 88.6% in 2023.
Javier Cordova, Soma's President
and CEO, states, "The Cordero Mine is operating according to the
planned production schedule while maintaining development work one
year ahead of mining activities. We are also making good progress
on our objective of improving recovery by increasing the rate at
the mill by nearly 2% during the past two years. We have committed
to an ongoing program that aims to achieve a recovery rate
exceeding 90% by the end of 2024. Improving recovery generates a
considerable return to the bottom line. The enhancements made over
the past year are projected to contribute approximately 700
additional ounces of total gold production in 2023, all achieved at
a negligible incremental cost."
ABOUT SOMA GOLD
Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold
production and exploration. The Company owns two adjacent mining
properties in Antioquia, Colombia
with a combined milling capacity of 675 tpd. (Permitted for 1,400
tpd). The El Bagre Mill is currently operating and producing.
Internally generated funds are being used to finance a regional
exploration program.
The Company also owns an exploration property near Tucuma, Para
State, Brazil that is currently
under option to Ero Copper Corp.
On behalf of the Board of Directors
"Javier Cordova Unda"
Chief Executive Officer and President
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
All statements, analysis and other information contained in
this press release about anticipated future events or results
constitute forward-looking statements. Forward-looking statements
are often, but not always, identified by the use of words such as
"seek", "anticipate", "believe", "plan", "estimate", "expect" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. Forward-looking statements are subject to business and
economic risks and uncertainties and other factors that could cause
actual results of operations to differ materially from those
contained in the forward-looking statements. Forward-looking
statements are based on estimates and opinions of management at the
date the statements are made. The Company does not undertake any
obligation to update forward-looking statements even if
circumstances or management's estimates or opinions should change
except as required by applicable laws. Investors should not place
undue reliance on forward-looking statements.
SOURCE Soma Gold Corp.