VANCOUVER, BC, March 14,
2023 /CNW/ - Aris Mining Corporation ("Aris Mining"
or the "Company") (TSX: ARIS) (OTCQX: TPRFF) announces an updated
mineral resource estimate for the Toroparu Project in Guyana, effective February 10, 2023 (the "2023 MRE"). Aris
Mining will file an updated technical report in support of the 2023
MRE within 45 days of this news release.
Neil Woodyer, CEO of Aris Mining,
commented: "Following completion of the GCM Mining and Aris Gold merger in September 2022, Aris Mining started a
re-evaluation process for the Toroparu Project and reduced the
previously planned expenditures until the development plan is fully
defined. Today, we are reporting the results of the updated mineral
resource estimate which is based on a new detailed structural
analysis and updated geological model. The Aris Mining team has
confirmed that Toroparu is a large-scale gold-copper deposit with
an updated measured and indicated resource estimate of 5.4 million
ounces of gold and 118 thousand tonnes of copper, and an inferred
resource estimate of 1.2 million ounces of gold. We are
progressing additional studies to update, fully define, and
optimize the development plan."
2023 Mineral Resource Estimate Update
Table 1 summarizes the 2023 MRE effective February 10, 2023. The full break down of the
2023 MRE, including estimates related to copper and silver, is
provided in Table 2.
Table 1: Summary of the Toroparu 2023 MRE
|
Measured
|
Indicated
|
Measured &
Indicated
|
Inferred
|
|
Tonnes
|
Grade
Au
|
Oz Au
|
Tonnes
|
Grade
Au
|
Oz Au
|
Tonnes
|
Grade
Au
|
Oz Au
|
Tonnes
|
Grade
Au
|
Oz Au
|
|
(Mt)
|
(g/t)
|
(koz)
|
(Mt)
|
(g/t)
|
(koz)
|
(Mt)
|
(g/t)
|
(koz)
|
(Mt)
|
(g/t)
|
(koz)
|
2023
MRE
|
42.4
|
1.45
|
1,975
|
72.6
|
1.46
|
3,398
|
115.0
|
1.45
|
5,373
|
21.2
|
1.71
|
1,168
|
Notes:
|
|
1. Mineral resources
are not mineral reserves and do not have demonstrated economic
viability. Totals may not add due to rounding. The 2023 MRE is
based on a gold price of US$1,650 per ounce.
|
|
2. See "Qualified
Person and Technical Information" below.
|
Table 2: Toroparu Mineral Resources, effective February 10, 2023
Area
|
Category
|
Tonnes
(Mt)
|
Grade
Au (g/t)
|
Grade
Cu (%)
|
Grade
Ag (g/t)
|
Contained
Au (koz)
|
Contained
Cu (kt)
|
Contained Ag
(koz)
|
Open Pit
|
Measured
|
42.3
|
1.45
|
0.14
|
1.8
|
1,967
|
61
|
2,455
|
Indicated
|
69.0
|
1.42
|
0.08
|
1.3
|
3,159
|
55
|
2,817
|
Measured +
Indicated
|
111.3
|
1.43
|
0.10
|
1.5
|
5,126
|
116
|
5,272
|
Inferred
|
9.7
|
1.29
|
0.04
|
0.8
|
404
|
4
|
255
|
Underground
|
Measured
|
0.1
|
1.89
|
0.03
|
0.4
|
8
|
<1
|
2
|
Indicated
|
3.6
|
2.08
|
0.05
|
0.7
|
239
|
2
|
76
|
Measured +
Indicated
|
3.7
|
2.07
|
0.05
|
0.7
|
247
|
2
|
78
|
Inferred
|
11.5
|
2.07
|
0.04
|
0.7
|
764
|
5
|
262
|
Total
|
Measured
|
42.4
|
1.45
|
0.14
|
1.8
|
1,975
|
61
|
2,457
|
Indicated
|
72.6
|
1.46
|
0.08
|
1.2
|
3,398
|
57
|
2,893
|
Measured +
Indicated
|
115.0
|
1.45
|
0.10
|
1.5
|
5,373
|
118
|
5,350
|
Inferred
|
21.2
|
1.71
|
0.04
|
0.8
|
1,168
|
9
|
517
|
Notes:
|
1.
|
Mineral resources are
not mineral reserves and have no demonstrated economic
viability.
|
2.
|
The mineral resource
estimate was prepared by Ekow Taylor, FAusIMM (CP) and Maria Muñoz,
MAIG (QP), both of Mining Plus, who are Qualified Persons as
defined by NI 43-101. Ms. Muñoz 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 resource estimate are
reliable for that purpose.
|
3.
|
Totals may not add up
due to rounding.
|
4.
|
Open Pit mineral
resources are reported above a cut-off grade of 0.5 g/t Au within
an optimized pit shell using a gold price of $1,650 per ounce.
Underground mineral resources are reported within Mineable Stope
Optimizer shapes generated at a cut-off grade of 1.5 g/t Au and is
inclusive of material below 1.5 g/t Au within those
shapes.
|
5.
|
There are no known
legal, political, environmental, or other risks that could
materially affect the potential development of the mineral
resources.
|
6.
|
See "Qualified Person
and Technical Information" below.
|
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 2023 MRE, the nature of
the results of the 2023 MRE, the filing of the technical report in
support of the 2023 MRE and the 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 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: changes
in national and local government legislation, taxation, controls,
regulations and political or economic developments, local
environmental and regulatory requirements and delays in obtaining
required environmental and other licenses, 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, risks associated with holding derivative instruments,
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