Aguia Resources (ASX:AGR) increased gold production and recoveries at the Santa Barbara Gold Project in Colombia in February 2026.
The company reports its best production rate last month with 470 grams of gold produced with an average grade of 4 grams per tonne.
Aguia says gold yields per tonne processed over the last three months have “consistently” set new monthly records.
Recent figures have outperformed the six-month period prior to the company’s restructuring, which includes appointment of Tim Hosking as both CEO, in November 2025, and also to act as Managing Director on top of his existing duties, as reported by Mining.com.au.
Aguia has optimised the metallurgical process for Santa Barbara material, with batch recoveries performing consistently above 85%. Equipment for crushing has arrived at the site and is expected to be assembled this month for full mechanisation of the plant.
CEO Tim Hosking explains that improved process efficiencies provide the company with confidence for the Santa Barbara Project to “deliver positive cash flow shortly”, although current revenue is modest.
“Minimal capital expenditure is required for full mechanisation, as all necessary equipment is already onsite,” Hosking says.
“In Q2 CY2026, we aim to optimise underground mining methods and processing plant head grade so we can resume exploration activities and demonstrate the extent of what we believe is a much larger mineralised system. This will better reflect the project’s true value.”
Aguia has calibrated the ball mill setup to work at the current scale of the project, with Ball Mill #2 achieving 90% to pass at 325 microns.
The company says the Merrill-Crowe precipitation system is expected to be fully operational this month. Gold recovery will increase by up to 5% after precipitation, allowing a shortened batch processing time.
Aguia Resources is a multi-commodity explorer with phosphate assets in Brazil and gold assets in Colombia.
Write to Maddison Elliott at Mining.com.au
Images: Aguia Resources
