VANCOUVER, BC, March 3 2023
/CNW/ - Aris Mining Corporation ("Aris Mining" or the "Company)
(TSX: ARIS) (OTCQX: TPRFF) announces updated mineral resource
and reserve estimates for the Segovia Operations in Colombia, effective December 31, 2022 (the "2022 MRE"). The
2022 MRE includes full replacement of gold ounces mined during
2022.
Highlights of the Segovia Operations 2022 MRE include:
- Proven and probable mineral reserves of 755.2 thousand ounces
(koz) of gold (Au) from 2.4 million tonnes (Mt) at 9.95 grams per
tonne (g/t) Au. This compares to 744.7 koz from 2.3 Mt at 10.1 g/t
Au as of December 31, 2021
- Measured and indicated mineral resources of 1.7 million ounces
of gold (Moz) from 5.0 Mt at 10.60 g/t Au
- Inferred mineral resources of 1.6 Moz of gold from 5.3 Mt at
9.44 g/t Au
- Extended growth history of mineral resources, net of depletion,
since 2010 (see Figure 1)
Neil Woodyer, CEO of Aris Mining,
commented "Segovia is a high-grade gold operation that has been
producing gold for more than 150 years. Following the 2022 in-mine
and near-mine drilling campaign, we are pleased to report another
year of replacing mined ounces with new reserves and resources. For
2023, we have planned an exploration drilling program of 84,500
metres at Segovia focussed on increasing the mineral reserves and
life of mine plan, extending the known resources at the four
producing mines, and further exploring strategic high priority vein
targets located adjacent to the current mining operations."
Tables 1 and 2 include the full breakdown of the 2022 MRE.
Table 1: Segovia Operations Mineral Reserves effective
December 31, 2022
Classification
|
Deposit
|
Tonnes (kt)
|
Grade Au (g/t)
|
Contained Au (koz)
|
Proven
|
Providencia
|
204.1
|
11.22
|
73.6
|
Sandra K
|
25.2
|
8.46
|
6.8
|
Total Proven
|
229.3
|
10.92
|
80.5
|
Probable
|
Providencia
|
198.9
|
8.11
|
51.8
|
Sandra K
|
462.2
|
7.42
|
110.3
|
El Silencio
|
1,369.3
|
11.01
|
484.6
|
Carla
|
101.3
|
8.57
|
27.9
|
Total
Probable
|
2,131.7
|
9.84
|
674.7
|
Proven + Probable
|
Total
|
2,361.0
|
9.95
|
755.2
|
Notes:
|
1. The mineral reserve
estimate was prepared under the supervision of, or was reviewed by,
Pamela De Mark, P.Geo, Senior Vice President Technical Services of
Aris Mining, who is a Qualified Person as defined by National
Instrument 43-101 ("NI 43-101").
2. Totals may not add up due to rounding.
3. Mineral reserves are reported within scheduled mine designs
using a cut-off grade of between 2.86 and 3.44 g/t Au depending on
deposit, based on a gold price of US$1,7000 per ounce,
metallurgical recovery of 94%, and costs of between US$147 and
US$177 per tonne depending on deposit, including consideration for
concentrate credits.
4. There are no known legal, political, environmental, or other
risks that could materially affect the mineral reserves.
|
Table 2: Segovia Operations Mineral Resources effective
December 31, 2022
Classification
|
Deposit
|
Tonnes (kt)
|
Grade Au (g/t)
|
Contained Au (koz)
|
Measured
|
Providencia
|
369
|
15.71
|
187
|
Sandra K
|
35
|
11.96
|
14
|
Total
Measured
|
405
|
15.39
|
200
|
Indicated
|
Providencia
|
398
|
10.30
|
132
|
Sandra K
|
708
|
9.67
|
220
|
El Silencio
|
3,292
|
10.35
|
1,095
|
Carla
|
163
|
8.07
|
42
|
Vera
|
9
|
10.22
|
3
|
Total
Indicated
|
4,569
|
10.16
|
1,492
|
Measured +
Indicated
|
Providencia
|
768
|
12.91
|
319
|
Sandra K
|
743
|
9.78
|
234
|
El Silencio
|
3,292
|
10.35
|
1,095
|
Carla
|
163
|
8.07
|
42
|
Vera
|
9
|
10.22
|
3
|
Total Measured + Indicated
|
4,974
|
10.58
|
1,692
|
Inferred
|
Providencia
|
756
|
14.68
|
357
|
Sandra
K
|
1,032
|
12.24
|
406
|
El
Silencio
|
2,146
|
7.65
|
528
|
Carla
|
238
|
6.25
|
48
|
Vera
|
771
|
7.10
|
176
|
Verticales
|
118
|
5.87
|
22
|
Cristales
|
263
|
9.40
|
80
|
Total Inferred
|
5,325
|
9.44
|
1,616
|
Notes:
|
1. Mineral resources
are inclusive of mineral reserves.
2. Mineral resources are not mineral reserves and have no
demonstrated economic viability.
3. The mineral resource estimate was prepared under the supervision
of, or was reviewed by, Pamela De Mark, P.Geo, Senior Vice
President, Technical Services of Aris Mining, who is a Qualified
Person as defined by NI 43-101. Ms. De Mark has reviewed and
verified the drilling, sampling, assaying, and QAQC protocols and
results, and is of the opinion that the sample recovery,
preparation, analyses, and security protocols used for the mineral
reserve estimate and the mineral resource estimate are reliable for
that purpose.
4. Totals may not add up due to rounding.
5. Mineral resources are reported using a cut-off grade of 2.65 g/t
Au over a 1.0 m mining width, based on a gold price of US$1,850 per
ounce, metallurgical recovery of 94%, and costs of US$148 per
tonne, including consideration for concentrate credits.
6. There are no known legal, political, environmental, or other
risks that could materially affect the mineral
resources.
|
Qualified Person and Technical
Disclosure
The technical information in this news release was reviewed and
approved by Pamela De Mark, P.Geo,
Senior Vice President, Technical Services of Aris Mining, who is a
Qualified Person as defined by NI 43-101.
About Aris Mining
Aris Mining is a Canadian company led by an executive team with
a track record of creating value through building globally relevant
mining companies. In Colombia,
Aris Mining operates several high-grade underground mines at its
Segovia Operations and the Marmato Mine, which together produced
235,000 ounces of gold in 2022. Aris Mining also operates the Soto
Norte joint venture, where environmental licensing is advancing to
develop a new underground gold, silver and copper mine. In
Guyana, Aris Mining is advancing
the Toroparu Project, a gold/copper project. Aris Mining plans to
pursue acquisition and other growth opportunities to unlock value
creation from scale and diversification.
Aris Mining promotes the formalization of small-scale mining as
this process enables all miners to operate in a legal, safe and
responsible manner that protects them and the environment.
Additional information on Aris Mining can be found at
www.aris-mining.com and www.sedar.com.
Cautionary Language
This news release contains "forward-looking information" or
forward-looking statements" within the meaning of Canadian
securities legislation. All statements included herein, other than
statements of historical fact, including, without limitation,
statements relating to the results of the 2022 MRE and the nature
of such results, the 2023 exploration program and the details and
timing thereof, and the Company's plans and strategies are
forward-looking. Generally, the forward-looking information and
forward looking statements can be identified by the use of forward
looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate",
"will continue" or "believes", or 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". Statements concerning mineral reserve estimates and
mineral resource estimates may also be deemed to constitute forward
looking information to the extent that they involve estimates of
the mineralization that will be encountered. The material factors
or assumptions used to develop forward looking information or
statements are disclosed throughout this presentation.
Forward looking information and forward looking statements,
while based on management's best estimates and assumptions, are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Aris Mining to be materially different from
those expressed or implied by such forward-looking information or
forward looking statements, including but not limited to: local
environmental and regulatory requirements and delays in obtaining
required environmental and other licenses, changes in national and
local government legislation, taxation, controls, regulations and
political or economic developments, uncertainties and hazards
associated with gold exploration, development and mining, risks
associated with tailings management, risks associated with
operating in foreign jurisdictions, risks associated with capital
cost estimates, dependence of operations on infrastructure, costs
associated with the decommissioning of the Company's properties,
fluctuations in foreign exchange or interest rates and stock market
volatility, operational and technical problems, the ability to
maintain good relations with employees and labour unions,
competition; reliance on key personnel, litigation risks,
uncertainties relating to title to property and mineral resource
and mineral reserve estimates, risks associated with acquisitions
and integration, risks associated with the Company's ability to
meet its financial obligations as they fall due, volatility in the
price of gold, or certain other commodities, risks that actual
production may be less than estimated, risks associated with
servicing indebtedness, additional funding requirements, risks
associated with general economic factors, risks associated with
secured debt, changes in the accessibility and availability of
insurance for mining operations and property, environmental,
sustainability and governance practices and performance, risks
associated with climate change, risks associated with the reliance
on experts outside of Canada, ,
pandemics, epidemics and public health crises, potential conflicts
of interest, uncertainties relating to the enforcement of civil
labilities outside of Canada,
cyber-security risks, risks associated with operating a joint
venture, volatility of the share price, the ability to pay
dividends in the future, as well as those factors discussed in the
section entitled "Risk Factors" in Aris Mining's most recent AIF
available on SEDAR at www.sedar.com.
Although Aris Mining has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information and forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such information or statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information or statements. The Company has and
continues to disclose in its Management's Discussion and Analysis
and other publicly filed documents, changes to material factors or
assumptions underlying the forward-looking information and
forward-looking statements and to the validity of the information,
in the period the changes occur. The forward-looking statements and
forward-looking information are made as of the date hereof and Aris
Mining disclaims any obligation to update any such factors or to
publicly announce the result of any revisions to any of the
forward-looking statements or forward-looking information contained
herein to reflect future results. Accordingly, readers should not
place undue reliance on forward-looking statements and
information.
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SOURCE Aris Mining Corporation