VANCOUVER, BC, Aug. 16,
2023 /PRNewswire/ - Aris Mining Corporation
(Aris Mining or the Company) (TSX: ARIS) (OTCQX: TPRFF) announces
the results received to date from its ongoing 2023 exploration
program at its Segovia Operations in Colombia. The 84,500 metre (m) exploration
drilling program is now 58% complete.
Neil Woodyer, CEO of Aris Mining,
commented "Our program encompasses the exciting work of discovering
new high grade vein structures near existing mine infrastructure.
Drilling this year has successfully intersected 32 different
mineralized vein structures at strategically spaced drill points.
Additionally, given the widths and grades of vein intersections
near active mining operations, this work is expected to convert
mineral resources into mineral reserves and to continue Segovia's
history of growth and reserve replacement. Segovia has an
impressive legacy of high grade gold production from numerous large
scale, narrow quartz-sulfide veins for more than 150 years. Our
exploration investment continues to result in new high quality
ounces and we eagerly await the results of the next phases of this
program."
The Segovia Operations exploration drilling program is a
comprehensive undertaking with 17 drill rigs operating in the El
Silencio, Sandra K, Providencia, and Carla mines from 21 surface
and underground drilling chambers. As of a cut-off date of
July 31, 2023, the Company has
completed 48,964 m of drilling. The
2023 exploration program at the Segovia Operations has been
designed to target the following objectives: reserve replacement
(29,000 m budgeted), expanding
resources at existing operations (39,000
m budgeted) and testing high priority exploration targets
outside the current resource area but near mine infrastructure
(16,500 m budgeted).
Highlights include:
El Silencio – 450 Vein
- 0.48 m1 at 647 grams per tonne (g/t) gold (Au)
in hole ES-MH10-04
- 0.19 m at 216 g/t Au in hole ES-EU-095
- 0.49 m at 62 g/t Au in hole ES-MH10-02
- 0.23 m at 126 g/t Au in hole ES-EU-102
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1 All
intersection widths are corrected for true vein width
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El Silencio – Manzanillo Vein
- 0.32 m at 109 g/t Au in hole MAN-IU-03
- 0.55 m at 26 g/t Au in hole MAN-EU-016
- 0.50 m at 21 g/t Au in hole MAN-IU-003
- 0.45 m at 15 g/t Au in hole MAN-EU-005
El Silencio - Reliquia Vein
- 0.69 m at 152 g/t Au in hole MAN-IU-005
- 0.43 m at 144 g/t Au in hole MAN-IU-001
- 0.74 m at 25 g/t Au in hole MAN-EU-008
- 0.57 m at 32 g/t Au in hole MAN-EU-010
Sandra K – Sandra K Techo Vein
- 0.25 m at 99 g/t Au in hole SK-EU-011
- 0.51 m at 41 g/t Au in hole SK-IU-233
- 0.64 m at 32 g/t Au in hole SK-IU-232A
- 0.53 m at 33 g/t Au in hole SK-IU-240
Providencia – Marmajito Vein
- 0.60 m at 71 g/t Au in hole MAR-IU-007
- 0.46 m at 57 g/t Au in hole MAR-EU-036
- 0.56 m at 18 g/t Au in hole MAR-IU-005
- 0.24 m at 23 g/t Au in hole MAR-EU-029
Carla – La Gran Colombia Vein
- 0.72 m at 62 g/t Au in hole CA-IU-001
- 0.61 m at 19 g/t Au in hole CA-IU-013
- 0.30 m at 38 g/t Au in hole CA-IU-005
- 0.47 m at 21 g/t Au in hole CA-IU-004
Drilling context
At the El Silencio Mine, 81 drillholes with full sample
assays have been completed during 2023. At the 450 Vein, 16 holes
with an average vein width and grade of 0.8
m at 34.09 g/t Au have been drilled into inferred
mineral resource volumes. These holes are located adjacent to
existing mine workings and represent an example of high impact
exploration targets that can be accessed for incremental
development capital. The drilling at the 450 Vein includes four
wider spaced expansion holes (100 by 45 m apart), and 10
closer spaced resource conversion holes on a 40 by 40 m grid. The majority of the holes with grades
and thicknesses above the economic mining cut-off assumptions at El
Silencio are spatially continuous and are expected to convert
inferred mineral resources to indicated resources when active
mining advances to those locations. Also at the El Silencio Mine,
five drillholes tested the west of the upper, western perimeter of
the mine into the brownfield Manzanillo vein target. This target
was mined historically on four levels and has had only 45 holes
drilled by the Company since 2021. These holes were completed on a
five dice pattern 100 m along strike
and 45 m wide, with an average vein
width and grade of 0.9 m at 17.04 g/t
Au.
Additionally, the 2023 campaign includes 18 drillholes covering
an 80 m wide grid pattern over a strike distance of
200 m. This work intersected the
brownfield Reliquia vein target, which is located 130 m above the Manzanillo vein. Drilling at
Reliquia returned an average vein width and grade of 0.7 m at 21.83 g/t Au.
At the Sandra K Mine, 32 drillholes have been completed.
The 2023 program included 15 holes targeting inferred mineral
resource volumes of the Sandra K Techo vein. The average vein width
and grade of these holes is 0.6 m at
13.94 g/t Au. These holes are located down dip and to the east of
the current mine workings and significantly expand the down dip
potential of the Sandra K Techo vein. Nearly all the drillholes
have sample lengths and widths above the economic mining
assumptions for Sandra K and are expected to convert inferred
mineral resources to indicated resources when active mining
advances to those locations.
At the Providencia Mine, 23 holes have been completed. A
key target is the downdip extension of the historically mined
Marmajito vein, located in the hangingwall of the Providencia vein
and where 51 drillholes have been completed by the Company since
2021. These holes have an average vein width and grade of
0.5 m at 13.14 g/t Au and are located
on the edge of and outside inferred mineral resources, on a
100 m wide grid for 200 m along strike, with intersections completed
at a 25 m by 25 m grid spacing. Most of the holes have grades
and thicknesses above the mineral resource cut-off assumptions for
Providencia and are expected to convert to inferred mineral
resources.
At the Carla Mine, 46 drillholes have been completed. 19
holes have been completed in the La Gran Colombia vein over a
200 m strike length with an average
vein width and grade of 1.2 m at 7.10
g/t Au. These holes are located to the southeast of the current
mine workings, spaced between 15 and 100
m from the mining operations, with intersections completed
at a 25 m by 25 m grid spacing, and are expected to convert an
area of inferred resources around 85
m long by 70 m wide to indicated resources as well as
provide greater accuracy of the vein location in other areas for
the mine production teams.
Technical disclosure
All samples comprise half diamond drill core and were prepared
and assayed by the commercial laboratory SGS (ISO 9001:2008)
located in Medellín, Colombia
utilizing fire assay with atomic absorption finish and with
gravimetric finish for assays greater than 10 g/t Au. Aris Mining
implements an industry standard quality assurance and quality
control program comprised of one certified standard and one blank
submitted with every 20 samples, and one field, one coarse, and one
pulp duplicate every 50 samples. There are no known drilling,
sampling, recovery, or other factors that could materially affect
the accuracy or reliability of the samples disclosed in this news
release.
Click here to see a table of sample depths, true width
lengths, and grades.
Click here to see a table of the location, azimuth, and dip
of the drillholes.
Click here to see a representative selection of photographs
of the drillhole intersections.
The scientific and technical information contained in this news
release was approved 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. Ms. De Mark has reviewed the drilling, sampling,
and assay protocols, reviewed the diamond drill core, and reviewed
the logging, sampling, and QAQC databases to support the
information contained in this news release.
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 is currently advancing
the Marmato Lower Mine Expansion project, which will provide access
to wider porphyry mineralization below the current Upper Mine.
Following completion and ramp up of the Marmato Lower Mine
Expansion project in 2025, the Marmato Mine is expected to deliver
average production of 162,000 ounces per year over a nearly 20-year
mine life from the existing mineral reserves2. Aris
Mining also operates the Soto Norte Project 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 artisanal and
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.sedarplus.ca.
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2 Scientific
and technical information concerning the Marmato Mine is
summarized, derived, or extracted from the technical report
entitled "Technical Report for the Marmato Gold Mine, Caldas
Department, Colombia, Pre-Feasibility Study of the Lower Mine
Expansion Project" dated November 23, 2022 with an effective date
of June 30, 2022, prepared by Ben Parsons, MAusIMM (CP), Anton
Chan, Peng, Brian Prosser, PE, Joanna Poeck, SME-RM, Eric J. Olin,
SME-RM, MAusIMM, Fredy Henriquez, SME, ISRM, David Hoekstra, PE,
NCEES, SME-RM, Mark Allan Willow, CEM, SME-RM, Vladimir Ugorets,
MMSA, Colleen Crystal, PE, GE, Kevin Gunesch, PE, Tommaso Roberto
Raponi, P.Eng, David Bird, PG, SME-RM, and Pamela De Mark, P.Geo.,
each of whom is a "Qualified Person" as such term is defined
in NI 43-101, and with the exception of Pamela De Mark of Aris
Mining, are independent of the Company within the meaning of NI
43-101, and is 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
securities legislation. All statements included herein, other than
statements of historical fact, including, without limitation,
statements relating to: the Company's prioritization of exploration
drilling, the expectation that the Company's drilling work will
lead to conversions to mineral reserves or mineral resources or the
replacement of mineral reserves, the objectives of the 2023
exploration program at the Segovia Operations, and the Company's
plans and strategies are forward-looking. 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. When used herein, forward looking terminology such as
"expect", "plan", "anticipate", "estimate", "may", "will",
"should", "intend", "believe", and similar expressions, are
intended to identify forward-looking statements. Forward-looking
statements are based on estimates and assumptions made by the
Company in light of its experience and its perception of historical
trends, current conditions and expected future developments, as
well as other factors that the Company believes are appropriate in
the circumstances. Many factors could cause the Company's actual
results, performance or achievements to differ materially from
those expressed or implied by the forward-looking statements,
including those described in the "Risk Factors" section of
the Company's Annual Information Form for the year ended
December 31, 2022 and in the
Management's Discussion and Analysis for the three and six months
ended June 30, 2023, which are
available on the Company's profile on SEDAR+ at
www.sedarplus.ca.
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