ARIS MINING REPORTS Q3 2024 GOLD PRODUCTION, UPDATES SEGOVIA RESERVE AND RESOURCE ESTIMATES AND EXPANSION MILESTONES
Phase 1 of the
Gold production from
As announced in our
_________________________ |
1 See news release dated |
Marmato expansion updates
As of
_____________________________ |
2 See Tables 1 and 2 for the full breakdown of tonnes, grade, and ounces by category and the "Technical Disclosure and Qualified Person" section below for full disclosure of technical and scientific details. |
3 See the "Technical Disclosure and Qualified Person" section below for full disclosure of technical and scientific details. |
Technical Disclosure
The table below summarizes the 2024 mineral resource estimate (the 2024 MRE) together with the disclosure of several years of previous mineral resource estimates.
Table 1 - Segovia Operations mineral resource estimates4
Effective date |
Measured |
Indicated |
Measured & Indicated |
Inferred |
||||||||
Tonnes (kt) |
|
|
Tonnes (kt) |
|
|
Tonnes (kt) |
|
|
Tonnes (kt) |
|
|
|
31–Jul-2024 |
3,637 |
16.03 |
1,875 |
2,943 |
16.07 |
1,521 |
6,580 |
16.05 |
3,396 |
5,138 |
15.38 |
2,541 |
30–Sep-2023 |
4,114 |
14.31 |
1,893 |
3,754 |
14.38 |
1,736 |
7,869 |
14.34 |
3,629 |
4,682 |
12.11 |
1,823 |
|
405 |
15.39 |
200 |
4,569 |
10.16 |
1,492 |
4,974 |
10.58 |
1,692 |
5,325 |
9.44 |
1,616 |
|
462 |
14.00 |
208 |
4,123 |
10.65 |
1,412 |
4,585 |
10.99 |
1,620 |
5,349 |
9.90 |
1,703 |
|
327 |
19.78 |
208 |
3,640 |
10.40 |
1,217 |
3,967 |
11.17 |
1,425 |
3,661 |
10.28 |
1,210 |
Notes: • Mineral resources are inclusive of mineral reserves. • Mineral resources are not mineral reserves and have no demonstrated economic viability. • There are no known environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the mineral resource estimate. • Totals may not add due to rounding. 2024 MRE Notes:
• A gold price of • The 2024 MRE utilized a gold cut-off grade of between 2.84 g/t and 3.81 g/t depending on mineral resource area. The cut-off grade values were applied to vein grades diluted to a minimum mining width of one vertical metre.
• The 2024 MRE was prepared by Previous MRE Notes:
• The mineral resource estimate used a US$ gold price of |
_____________________________ |
4 See the "Technical Disclosure and Qualified Person" section below for full disclosure of technical and scientific details. |
Table 2 below summarizes the 2024 mineral reserve estimate together with several years of previous mineral reserve estimates.
Table 2 - Segovia Operations mineral reserve estimates5
Effective date |
Proven |
Probable |
Proven & Probable |
||||||
Tonnes (kt) |
|
|
Tonnes (kt) |
|
|
Tonnes (kt) |
|
|
|
31–Jul-2024 |
1,886 |
11.25 |
682 |
1,989 |
10.33 |
660 |
3,875 |
10.78 |
1,343 |
30–Sep-2023 |
1,515 |
12.25 |
597 |
2,017 |
11.16 |
723 |
3,531 |
11.63 |
1,320 |
|
229 |
10.92 |
81 |
2,132 |
9.84 |
675 |
2,361 |
9.95 |
755 |
|
204 |
12.00 |
79 |
2,087 |
9.93 |
666 |
2,290 |
10.11 |
745 |
|
187 |
13.86 |
83 |
2,009 |
8.51 |
550 |
2,196 |
8.96 |
633 |
Notes: • There are no known mining, legal, political, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the mineral reserve estimate. • Totals may not add due to rounding. 2024 Mineral Reserve Notes:
• A gold price of • The 2024 mineral reserve estimate utilized a gold cut-off grade of between 3.11 g/t and 4.18 g/t depending on mineral resource area. The cut-off grade values were applied to vein grades diluted to a minimum mining width that varies according to the mining area.
• The 2024 mineral reserve estimate was prepared by Previous Mineral Reserve Notes:
• The mineral reserve estimate used a US$ gold price per ounce of |
The technical information in this news release was reviewed and approved by
___________________________ |
5 See the "Technical Disclosure and Qualified Person" section below for full disclosure of technical and scientific details. |
Unless otherwise indicated, the mineral resource and reserve estimates, scientific disclosure, and technical information included in this news release are based upon information included in the following documents and NI 43-101 compliant technical reports:
- for the annual gold production at Marmato, the technical report entitled "Technical Report for the
Marmato Gold Mine ,Caldas Department ,Colombia , PFS of theLower Mine Expansion Project " datedNovember 23, 2022 and effective as ofJune 30, 2022 , and prepared by SRK, Ausenco,Piteau Associates , andAris Mining ; - for the mineral resource and reserve estimate effective
December 31, 2020 , the technical report entitled "NI 43-101 Technical Report, Prefeasibility Study Update,Segovia Project ,Department of Antioquia ,Colombia " datedMay 13, 2021 and effective as ofDecember 31, 2020 and prepared by SRK; - for the mineral resource and reserve estimate effective
December 31, 2021 , the technical report entitled "NI 43-101 Technical Report, Prefeasibility Study,Segovia Project , Antioquia,Colombia " datedMay 6, 2022 and effective as ofDecember 31, 2021 and prepared by SRK; - for the mineral resource and reserve estimate effective
December 31, 2022 , the mineral reserve estimates of the Segovia Operations are summarized, derived, or extracted from the news release of the Company datedMarch 3, 2023 ; and - for the mineral resource and reserve estimate effective
September 30, 2023 , the technical report entitled "NI 43-101 Technical Report for the Segovia Operations, Antioquia,Colombia " datedDecember 6, 2023 and effective as ofSeptember 30, 2023 and prepared byAris Mining .
All of the documents referenced in this news release are available for review on the Company's website at www.aris-mining.com and on the Company's profile on SEDAR+ at www.sedarplus.ca.
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Forward-Looking Information
This news release contains "forward-looking information" or "forward-looking statements" within the meaning of Canadian and
Statements concerning mineral resources and mineral reserve estimates may also be deemed to constitute forward looking information to the extent that they involve estimates of the mineralization that will be encountered.
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
Differences in
This press release has been prepared in accordance with the requirements of the securities laws in effect in
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