VANCOUVER, BC, March 9, 2021 /PRNewswire/ - Aris Gold
Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX:
ALLXF) announces high-grade gold intercepts over broad widths at
the Marmato mine in Colombia.
The 2020-2021 drill program that began in May 2020 at Marmato comprises 60 holes totalling
35,000 metres and is now approximately 50% complete. Drilling to
date has demonstrated high-grade mineralization over broad widths,
demonstrating potential to extend the 13-year mine life outlined in
the Company's Pre-Feasibility Study dated September 18, 2020 with an effective date of
March 17, 2020.
The principal objective of the drill campaign is to convert
Inferred Mineral Resources to Indicated Mineral Resources. In
addition to the Deep Zone, the campaign is also testing the newly
discovered Fortaleza Zones A and B to the north, which opens up a
new area that will require further drilling to evaluate its
potential.
Aris Gold CEO Neil Woodyer
commented, "Our ongoing drill program at Marmato continues to
deliver on our objective of adding to the already large gold
inventory and 13-year mine life. Drilling in the Deep Zone is
demonstrating potential for a larger, higher-grade system than
previously envisioned. In addition, drilling on the newly
discovered Fortaleza zones to the
north confirms a prospective new area worthy of additional
testing."
Highlights
The table below lists new intercepts greater than 1.0 g/t gold
received since the Caldas Gold news release of November 24, 2020. Results reported here include
six drill holes totalling 4,069 metres.
Hole
|
From
(m)
|
To
(m)
|
Intersection width
(m)
|
Au
(g/t)
|
True width
(m)
|
MT-IU-075*
|
338.00
|
600.00
|
262.00
|
1.56
|
104.0
|
including
|
389.55
|
429.30
|
39.75
|
2.35
|
16.3
|
including
|
481.23
|
503.07
|
21.84
|
2.07
|
8.6
|
including
|
514.53
|
534.43
|
19.90
|
1.94
|
7.7
|
including
|
586.83
|
600.00
|
13.17
|
3.35
|
5.0
|
MT-IU-077*
|
215.00
|
250.65
|
35.65
|
2.82
|
21.0
|
and
|
333.20
|
409.75
|
76.55
|
1.93
|
44.9
|
including
|
333.20
|
364.60
|
31.40
|
1.95
|
18.4
|
including
|
377.50
|
388.40
|
10.90
|
3.61
|
6.4
|
including
|
397.90
|
409.75
|
11.85
|
2.93
|
6.9
|
and
|
521.00
|
532.80
|
11.80
|
4.16
|
6.8
|
MT-IU-078*
|
376.65
|
403.10
|
26.45
|
2.83
|
5.0
|
and
|
591.55
|
627.75
|
36.20
|
3.68
|
7.2
|
and
|
747.40
|
798.80
|
51.40
|
2.46
|
11.3
|
MT-IU-079*
|
409.60
|
462.00
|
52.40
|
1.67
|
22.7
|
and
|
572.80
|
591.70
|
18.90
|
2.37
|
8.1
|
MT-MH01-01**
|
327.60
|
340.82
|
13.22
|
2.89
|
5.2
|
and
|
385.40
|
746.85
|
361.45
|
2.21
|
147.1
|
including
|
431.00
|
509.10
|
78.10
|
3.43
|
30.8
|
including
|
667.00
|
746.85
|
79.85
|
3.07
|
35.4
|
MT-MH02-01**
|
173.90
|
189.20
|
15.30
|
2.16
|
9.8
|
and
|
421.00
|
462.10
|
41.10
|
2.57
|
29.6
|
and
|
573.70
|
746.50
|
172.80
|
1.95
|
130.4
|
including
|
573.70
|
619.20
|
45.50
|
2.33
|
34.0
|
including
|
643.50
|
738.20
|
94.70
|
2.13
|
71.9
|
Notes:
|
* Denotes underground
drill holes drilled at -50 to -73 degrees from the horizontal. The
intersection widths do not represent true widths. The true widths
estimated from the geological model are also given. Sample lengths
average 1.60 metres but may be varied for geological and recovery
factors. Intersections were calculated using a cut-off grade of 0.5
g/t gold, and no more than 5.0 m of continuous internal dilution
for intervals up to 50 m, no more than 10 m of continuous internal
dilution for intervals of 50-200 m, and no more than 20 m of
continuous internal dilution for intervals greater than 201 m. Gold
grades were capped at 13.0 g/t gold which affects 14 samples of a
total of 2014 samples. Intervals greater than or equal to 1.0 g/t
are reported.
|
** Denotes
directional drilling mother and kick-off holes. The directional
drilling kick-off holes were drilled at -48 and -45 degrees from
the horizontal. The collar coordinates are for the kick-off point
in the mother hole.
|
The holes were
drilled from three purpose-built underground drill stations on
levels 20 and 21 of the mine.
|
The datum used for
the collar coordinates is the official Colombian Magna Sirgas
system. "masl": metres above mean sea level.
|
Drill collar location, elevation, azimuth and dip are as
follows:
Hole
|
Easting
|
Northing
|
Elevation
(masl)
|
Azimuth
|
Inclination
|
Length
(m)
|
MT-IU-075
|
1163641
|
1097817
|
997.09
|
231
|
-67
|
650.65
|
MT-IU-077
|
1163437
|
1097899
|
1052.98
|
50
|
-50
|
700.60
|
MT-IU-078
|
1163641
|
1097817
|
997.00
|
160
|
-73
|
800.30
|
MT-IU-079
|
1163437
|
1097899
|
1053.00
|
50
|
-60
|
709.40
|
MT-MH01-01
|
1163356
|
1098028
|
760.00
|
160
|
-48
|
524.65
|
MT-MH02-01
|
1163580
|
1098019
|
855.00
|
220
|
-45
|
683.50
|
Interpretation
The ongoing 2020-2021 drilling campaign has been successful in
showing higher-grade mineralization over broad widths in the Main
Zone (MZ) below the 500-metre level and in the New Zone (NZ) above
the 500-metre level, which strengthens the probability of adding a
significant amount of mineral resources to the current inventory.
The higher-grade shell is defined as greater than 2.5 g/t Au and
lies within the grade shell of 1.7 g/t Au used to build the
geological model of the Deep Zone (MDZ).
Infill drilling in the MZ has extended the higher-grade
mineralization over broad widths down to the 400-metre level, well
below the 500-metre level that is the bottom of the Indicated
Mineral Resource, and remains open at depth. Drill holes MT-IU-75
and MT-IU-078 confirm that the MZ is branching into three separate
bodies (A, B, C) to the southeast with the three reporting
higher-grade mineralization over broad widths. Drill hole MT-IU-075
intersected 39.75 m at 2.35 g/t Au in
the Main Zone A, 21.84 m at 2.07 g/t
Au and 19.90 m at 1.94 g/t Au in the
Main Zone B, and 13.17 m at 3.35 g/t
Au in the Main Zone C. Drill hole MT-IU-078 intersected
26.45 m at 2.83 g/t Au in the Main
Zone A, 36.20 m at 3.68 g/t Au in the
Main Zone B, and 51.40 m at 2.46 g/t
Au in the Main Zone C.
Two wildcat drill holes, MT-IU-077 and MT-IU-079, were
successful in intersecting higher-grade zones over broader widths
compared to previous drilling in the Fortaleza Zones A and B, which
opens a new area that requires further drilling to fully evaluate
its potential. Drill hole MT-IU-077 intersected 35.65 m at 2.82 g/t Au and 76.65 m at 1.93 g/t Au in Fortaleza Zones A and
B, including two vein-related intercepts that returned 10.90 m at 3.61 g/t Au and 11.85 m at 2.93 g/t Au, respectively, in the
Fortaleza Zone B. Drill hole MT-IU-079 intersected 52.40 m at 1.67 g/t Au and 18.90 m at 2.37 g/t Au in Fortaleza Zones A and
B.
Infill drilling in the NZ confirms higher-grade mineralization
over broad widths above the 500-metre level, which is the bottom of
the Indicated Mineral Resource. Kick-off drill hole MT-MH01-01
intersected 361.45 m at 2.21 g/t Au,
including 78.10 m at 3.43 g/t Au in
the NZ, and 79.85 m at 3.07 g/t Au in
the MZ. Kick-off drill hole MT-MH02-01 intersected 41.10 m at 2.57 g/t Au in the NZ, and
172.80 m at 1.95 g/t Au in the MZ,
including 45.50 m at 2.33 g/t Au and
94.70 m at 2.13 g/t Au.
The style of mineralization for the intersections associated
with the NZ and the Fortaleza Zone is the same as the MZ and is
characterized by very narrow veinlets of quartz-pyrrhotite-bismuth
tellurides-free gold with minor amounts of pyrite and chalcopyrite,
rimmed by a narrow halo of sodic-calcic alteration. The two
high-grade intersections in MT-IU-077 in the Fortaleza Zone are
associated with thick quartz veins, which is a different style of
mineralization that requires further investigation.
Most of the drill holes of this phase of drilling end within the
low-grade shell with the result that the MZ is open on the
southwest side. This is due to the location of underground drill
stations above and close to the steeply plunging low grade shell.
However, the holes achieved their objective of fully cutting the
high grade MZ.
Qualified Person
Dr. Stewart D. Redwood,
BSc(Hons), PhD, FIMMM, FGS, Senior Geologist providing
consulting services to the Company, is a qualified person as
defined by National Instrument 43-101 – Standards of Disclosure
or Mineral Projects and prepared and where applicable,
supervised the preparation of the scientific and technical
information in this press release. Dr. Redwood verified the data
disclosed in this news release which verification included a review
of the quality assurance and quality control samples, and review of
the applicable assay databases and assay certificates.
Sample Preparation, Analysis, Quality Assurance and Quality
Control
Core samples were prepared by SGS Laboratories Ltd. in
Medellin, Colombia and assayed in
their laboratory in El Callao, Lima,
Peru (ISO 9001:2008). SGS Laboratories Ltd. is independent
of the Company. Gold was assayed by 30 g fire assay with atomic
absorption spectrophotometer (AAS) finish and a detection range of
0.005 to 10 g/t. Samples over 10 g/t gold were re-assayed by 30 g
fire assay with gravimetric finish. Silver was assayed by aqua
regia digestion and AAS finish with a detection range of 0.3 to 100
ppm. Blank, standard and duplicate samples were routinely inserted
for quality assurance and quality control. There are no known
drilling, sampling, recovery or other factors that could materially
affect the accuracy or reliability of the data referred to in this
press release.
About Aris Gold
Aris Gold is a Canadian mining company listed on the TSX under
the symbol ARIS. The Company is led by an executive team with a
demonstrated track record of creating value through building
globally relevant gold mining companies. Aris Gold operates the
Marmato mine in Colombia, where a
modernization and expansion program is underway, and the Juby
project, an advanced exploration stage gold project in the Abitibi
greenstone belt of Ontario,
Canada. Aris Gold plans to pursue acquisition and other
growth opportunities to unlock value creation from scale and
diversification.
Additional information on Aris Gold can be found at
www.arisgold.com and www.sedar.com.
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 extending the mine-life
and potential for the Deep Zone 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 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 Gold to be materially different from those
expressed or implied by such forward-looking information or forward
looking statements, including but not limited to: the ability of
the Aris Gold management team to successfully integrate with the
current operations, risks related to international operations,
risks related to general economic conditions, uncertainties
relating to operations during the COVID-19 pandemic, actual results
of current exploration activities, availability of quality assets
that will add scale, diversification and complement Aris Gold's
growth trajectory; changes in project parameters as plans continue
to be refined; fluctuations in prices of metals including gold; the
ability to convert mineral resources to mineral reserves;
fluctuations in foreign currency exchange rates, increases in
market prices of mining consumables, risks associated with holding
derivative instruments (such as credit risks, market liquidity risk
and mark-to-market risk), possible variations in mineral reserves,
grade or recovery rates; failure of plant, equipment or processes
to operate as anticipated; changes in national and local government
legislation, taxation, controls, regulations, regulations and
political or economic developments in Canada or Colombia, accidents and operations, labour
disputes, title disputes, claims and limitations on insurance
coverage and other risks of the mining industry; delays in
obtaining governmental approvals including obtaining required
environmental and other licenses, or in the completion of
development or construction activities, changes in national and
local government regulation of mining operations, tax rules and
regulations, and political and economic developments in countries
in which the Company operates, as well as those factors discussed
in the section entitled "Risk Factors" in Aris Gold's most recent
AIF available on SEDAR at www.sedar.com.
Although Aris Gold 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
Gold 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.
This announcement does not constitute an offer of securities for
sale in the United States, nor may
any securities referred to herein be offered or sold in
the United States absent
registration or an exemption from registration as provided in the
U.S. Securities Act of 1933 as amended (the "Securities Act") and
the rules and regulations thereunder. The securities referred to
herein have not been registered pursuant to the Securities Act and
there is no intention to register any of the securities in
the United States or to conduct a
public offering of securities in the
United States.
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