Las Calandrias

Cerrado Gold Inc.
Santa Cruz




2017 / 07 / 03




2.0% NSR

The Las Calandrias property contains a low-sulfidation epithermal system located in the eastern part of the Santa Cruz province in southern Argentina. The property is in the Deseado Massif, a 60,000 sq km area which hosts numerous low-sulfidation epithermal vein and vein-breccia deposits. Producing mines in the Deseado Massif include Newmont’s Cerro Negro mine, AngloGold Ashanti’s Cerro Vanguardia mine and Pan American Silver Corp.’s Cerro Moro mine.

The principal area of the property that has been explored is the Las Calandrias zone consisting of Calandria Sur and Calandria Norte. Calandria Sur is a bulk tonnage rhyolite dome-hosted deposit and Calandria Norte is a vein/breccia system that has been drilled along a 400 metre strike length.

A September 2018 Mineral Resource estimate was published for the Las Calandrias zone and totaled 7.4 Mt of Indicated material at grades of 1.3 g/t gold and 24.65 g/t silver at Calandria Sur, and 0.6 Mt at 3.1 g/t gold and 8.2 g/t silver at Calandria Norte (0.8 g/t to 1.5 g/t Au cut-off).

The Morena vein breccia system lies immediately to the northwest of Calandria Norte and has seen only limited drilling. Outcrops along the vein system have returned gold grades ranging from below detection to a high of 116 g/t gold. The northern extension of the Morena vein has chalcedonic silica exposed on surface, similar to the northern part of the Calandria Norte vein, and remains completely untested.

The Refugio target lies approximately 6 km west of Calandria Norte, and consists of a 1.5 km-long, sub-cropping vein breccia system with high anomalous molybdenum concentrations. Scout drilling at Refugio will form part of the current drill program.

Recent Activity

    September 2023

    Mining and ore placement on the heap leach pad continues to ramp up to full capacity. To date, over 280,000 tonnes of ore have been placed on the pad and irrigation capacity continues to expand as the pad is developed. The heap leach is currently producing at a rate of 25 ounces per day and is expected to ramp up to 100 ounces per day.

    July 2023

    The first gold pour from the heap leach gold production project was achieved at Las Calandrias. Mining and stacking operations are at planned capacity, and gold production is expected to steadily increase as the retention period for the stacked ore is reached, allowing the project to reach design capacity during the third quarter of 2023.

    December 2022

    Development of the initial heap leach pad has begun with construction underway and a second pad planned to begin construction at the Martinetas area in 2023. The addition of the heap leach operations is expected to add 20,000–25,000 oz per year over a period of four years.

Use the link below to browse a list of available technical reports for the projects within Sandstorm’s portfolio. For the most up-to-date information on each project, please refer to the project operator or developer.

Investor Presentation

Download the latest Investor Presentation to learn why Sandstorm is a gold investment that stands out from the rest.


Asset Handbook

With 250 royalties acquired since 2009, we offer an exciting investment opportunity in a diverse portfolio of royalty assets. Discover all of Sandstorm’s royalties around the globe.


Annual Report

Our 2023 Annual Report includes our annual Financial Statements and Management Discussion & Analysis and a letter from Sandstorm’s President & CEO.


Sustainability Report

Learn more about Sandstorm’s approach to sustainability including our due diligence process, mining partnerships, and employee engagement.