# Update on Construction of Calcatreu Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/update-on-construction-of-calcatreu-project--42a0127d-acd3-40a0-ae93-ac27a5eb10f3 Original source: https://money.tmx.com/en/quote/PGDC/news/5636307882412371/update-on-construction-of-calcatreu-project Publisher: tmx Original announcement: 2025-12-29T09:41:40.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Patagonia Gold Corp. - Ticker: PGDC - Exchange: TSX - Region: Rio Negro, Argentina - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Resource update, Production - Extracted: 2026-09-12 18:54:57 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Patagonia Gold Corp. provided a construction update for the Calcatreu gold-silver project in Argentina, noting that mining has commenced and first leaching is expected in Q1 2026. The company also restated its measured and indicated mineral resources of 9.84 Mt at 2.11 g/t Au and 19.8 g/t Ag. Reasoning: The company is providing a construction update for its flagship project, showing steady progress toward first leaching, though some downstream components will lag behind initial operations. - Positive factor: Construction progress towards first leaching in Q1 2026 - Positive factor: Mining activities already commenced - Positive factor: Key infrastructure like chemical storage and explosives magazine completed - Positive factor: Resource figures provided for context - Negative factor: Downstream plant components will not be operational for ~6 months after start of operations - Negative factor: Temporary reliance on tolling for carbon processing Facts used in scoring: 2 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document provides an update on the project status and restates mineral resource figures. Evidence · text > Update on Construction of Calcatreu Project ## Extracted facts Stored fact records: 2. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/update-on-construction-of-calcatreu-project--42a0127d-acd3-40a0-ae93-ac27a5eb10f3#fact-resource-facts-0) gold #### Identity - Commodity: gold - Region: argentina - Reported Region: Rio Negro, Argentina - Ticker: PGDC #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:5972c72222760166d36c - Deposit or zone: Calcatreu - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 9840000 - Grade: 2.11 - Grade Unit: g/t - Contained Metal: 669 - Contained Unit: koz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-29T00:00:00.000Z Reasoning: Resource figures provided as part of a construction update; likely a restatement of existing data. Evidence · text > total measured and indicated mineral resources are estimated at 9.84 million tonnes at an average grade 2.11 g/t Au and 19.8 g/t Ag, yielding 669 thousand ounces of gold #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/update-on-construction-of-calcatreu-project--42a0127d-acd3-40a0-ae93-ac27a5eb10f3#fact-resource-facts-1) silver #### Identity - Commodity: silver - Region: argentina - Reported Region: Rio Negro, Argentina - Ticker: PGDC #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:5972c72222760166d36c - Deposit or zone: Calcatreu - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 9840000 - Grade: 19.8 - Grade Unit: g/t - Contained Metal: 6.3 - Contained Unit: moz #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-12-29T00:00:00.000Z Reasoning: Resource figures provided as part of a construction update; likely a restatement of existing data. Evidence · text > 9.84 million tonnes at an average grade 2.11 g/t Au and 19.8 g/t Ag, yielding 669 thousand ounces of gold and 6.3 million ounces of silver #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.