April 08, 2021

Post in News by Gabriel Catalani

ROAD TOWN, British Virgin Islands, April 8, 2021 – Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (“Aura” or the “Company”) is pleased to announce the preliminary production results for the first quarter of 2021.

Aura reached quarterly production of 66,782 gold equivalent ounces (“GEO”) [1] during the first quarter of 2021, compared to consolidated production of 39,735 GEO in the same period of 2020. The first quarter results for 2021 represent the second highest consolidated production (measured in GEO) in the Company’s history for a single quarter, just behind the 68,964 GEO reported in Q4 2020, where temporary access to high grades from the Ernesto mine at the Company’s EPP project contributed to record results.

Rodrigo Barbosa, the Company’s President and CEO, noted, “Under our consolidated operational plan, we expected the first two quarters of 2021 to have the lowest grades and production. Despite this, we achieved the Company’s second highest quarterly consolidated production, just behind Q4 2020. Aranzazu reached production of 100,000 tons at the mine in March and is moving towards full capacity of 100,000 tons at the plant. Moreover, the Company expects to reach higher grades at the Ernesto mine at EPP during Q3 2021, with continued access to higher grades expected in Q4 2021.”

Production Volume


Preliminary GEO production volume for the three months ended March 31, 2021, when compared to the previous quarter and the same period of 2020 were recorded by each operating mine as follows:


For the three months ended March 31, 2021 For the three months ended December 31, 2020 For the three months ended March 31, 2020 % change vs. Q4 2020 % change vs. Q1 2020
Ounces produced (GEO)  
   San Andres 21,082 18,768 14,363 12% 47%
   EPP Mines[2] 16,359 26,332 11,604 -38% 41%
   Aranzazu 25,013 19,073 13,768 31% 82%
   Gold Road 4,328 4,791 -10%
Total GEO produced –
current prices
66,782 68,964 39,735 -3% 68%


A summary of the performance by each operating mine is explained below:


  • San Andres: The Company realized better grades in Q1 2021 at San Andres as a consequence of access to higher grade areas at Esperanza and East Ledge North zones. Plant feed was 23% higher in Q1 2021 compared to the same period of 2020 due to the operational interruptions in March 2020 because of the Covid-19 pandemic. Improvements in operational processes also contributed to better performance in Q1 2021.
    • EPP Mines: Production in EPP was 41% higher than the same period of 2020 due to start of production in Nosde and some ore from Ernesto in the beginning of this quarter. Weather conditions were favorable considering lower volume of rain within the period in the region.
  • Gold Road: Production continues to ramp up, with January reaching 1,351 ounces, February 1,422 Oz, and March 1,607 Oz. Improvements in infrastructure to increase haulage capacity and overall productivity should be completed during the next quarter.
  • Aranzazu: The Company reported higher throughput at the mine and the plant at Aranzazu during Q1 2021. The Company is close to achieving its target to increase capacity by 30% and reach 100,000 tons per month at the plant. In March, production at the mine reached 99,958 tons and at the plant 98,487 tons. The Company had recovery and grades in line with previous quarter.


The table below shows production by each type of metal at Aranzazu. Production increased for all types of metal when compared to the previous quarter and to the same period of 2020:


  For the three months ended March 31, 2021 For the three months ended December 31, 2020 For the three months ended March 31, 2020 % change vs. Q4 2020 % change vs. Q1 2020
Gold Production (oz) 6,425 5,231 3,962 23% 62%
Silver Production (oz) 105,167 102,811 87,687 2% 20%
Copper Production (klbs) 7,946 6,929 5,668 15% 40%
Total GEO produced –
current prices
25,013 19,073 13,768 31% 82%
Total GEO produced –
constant prices
25,013 21,588 17,395 16% 44%


Qualified Person

Farshid Ghazanfari, P.Geo., Geology and Mineral Resources Manager for Aura Minerals Inc. has reviewed and confirmed the scientific and technical information contained within this news release and serves as the Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements”, as defined in applicable securities laws (collectively, “forward-looking statements”) which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the Company’s expectations regarding increased production across its operations, including access to higher grades and related production results at the Company’s EPP project, increased production at Aranzazu, and productivity improvements at Gold Road. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.

Known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s ability to predict or control could cause actual results to differ materially from those contained in the forward-looking statements. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation, copper and gold or certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the mineral exploration and development industry. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect the forward-looking statements.

All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.


About Aura 360° Mining

Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.

Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a -Pique gold mine in Brazil, the Aranzazu copper-gold-silver mine in Mexico and the Gold Road gold mine in the United States. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.

For further information, please visit Aura’s website at www.auraminerals.com or contact:

Rodrigo Barbosa

President & CEO



[1] Gold equivalent ounces, or GEO, is calculated by converting the production of silver and copper into gold using a ratio of the prices of these metals to that of gold. The prices used to determine the gold equivalent ounces are based on the weighted average price of silver and copper realized from sales at the Aranzazu Complex during the relevant period.

[2] Includes capitalized ounces from pre-commercial Nosde mine