VANCOUVER, BC, Aug. 12,
2024 /CNW/ - Aris Mining Corporation (Aris Mining or
the Company) (TSX: ARIS) (NYSE-A: ARMN) announces the results
received to date from its ongoing 2024 exploration drilling program
at its Segovia Operations in Colombia, which is now 70% complete.
Neil Woodyer, CEO of Aris Mining,
commented "Our drilling program continues to deliver high grade
intersections, confirming the continuity and extension of the large
scale veins at depth and along strike, and supporting Segovia's
status as one of the highest grade gold operations in the world.
The identification of new, near mine mineral resources are expected
to progressively lengthen the currently defined mine life, and to
provide future low development cost mill feed to supplement the
processing plant expansion currently underway. We are especially
excited by the results of our ongoing data verification and new
drilling programs at Cristales, which are expected to result in
significant additions to inferred mineral resources and have the
potential to connect the Cristales vein with the substantial vein
systems at El Silencio".
Exploration Program
The intersections provided in this news release include results
received since the Company's previous exploration news release
dated August 16, 2023, which had a
data cut-off date of July 31, 2023,
up to validated sample assays available as of April 1, 2024. These results are expected to be
included in the Company's updated mineral resource and reserve
estimates expected in the fourth quarter of 2024.
The Segovia vein system is extensive, with three of the four
operating mines following relatively flat lying vein systems
ranging between 1.5 and 2.8 kilometres (km) along strike and
extending down dip for between 2.0 and 2.7 km. To date,
80 different veins and vein splays have been identified from
both surface and underground drilling and underground channel
sampling. Most of these large scale structures remain open along
strike and down dip. The majority of the exploration drilling is
undertaken from within the existing underground mine development
and support infrastructure, targeting vein extensions that require
relatively lower expenditures to develop and produce. As the vein
splays are located in the footwall and hangingwall of the main
veins, most of the drillholes intersect multiple veins, providing a
high value per drill metre in terms of identifying new mineral
resources, and often results in the discovery of new vein
structures.
Vein intersection grades remain high after diluting the vein
width to the planned mining widths for extraction using narrow vein
mining methods. In addition to exploration drilling, ongoing
channel samples of the veins at the actively advancing work faces
also continue to provide new data to upgrade mineral resources to
mineral reserves.
Exploration Drilling Results
Cristales is a historic operation that is currently being
operated by a third party contractor for processing at Segovia's
plant. The drilling strategy is to prove the extension of the
Cristales vein at depth, which could potentially connect to an
existing crosscut at El Silencio, opening up a new mining front.
The new drillholes are located approximately 200 metres (m) to the
south of the historic Cristales mine workings over an area of
approximately 250 m by 200 m, and supplement over 3,700 newly validated
historic vein intersections. These vein intersections are expected
to result in new high grade inferred mineral resources. The new
drillhole highlights1 include:
- 0.32 m at 25.80 g/t Au in hole
CR-ES-075
- 0.47 m at 7.48 g/t Au in hole
CR-ES-080
- 0.31 m at 15.54 g/t Au in hole
CR-ES-083
- 0.25 m at 137.78 g/t Au in hole
CR-ES-086
Elsewhere, near mine drillholes strategically located
approximately 100 m to the east and
above existing vein workings at El Silencio over an area of
approximately 300 m by 120 m confirm the continuity of high grade veins
and were successful in extending the main vein in this area for
another 500 m down dip. These
intersections are expected to drive growth of high grade mineral
resources, which are important for operations in the medium term.
Drilling in this location was also successful in identifying a new
vein in the hangingwall and intersected other new veins with
orientations oblique to the main structures. These new veins will
be a high priority for definition in our next drilling programs.
Highlights include:
- 0.12 m at 45.19 g/t Au in hole
ES-MH14
- 0.23 m at 55.22 g/t Au in hole
ES-MH14-01
- 0.30 m at 61.50 g/t Au in hole
ES-MH11-03
- 0.48 m at 61.82 g/t Au in hole
ES-MH12-02
- 0.39 m at 28.34 g/t Au in hole
ES-MH12-04
Infill and extensional drillholes over a strike of 250 m located to the northwest of El Silencio
were also successful in demonstrating continuity of the high grade
veins, and are expected to result in new high grade mineral
resources and reserves, adding new production areas to the
operations. Two new veins were discovered in the footwall and
hangingwall, and two other new veins related to a different
structural trend were also discovered. These new discoveries have
been added to the list of high priority targets for definition in
our next drilling programs. Highlights include:
- 0.25 m at 15.20 g/t Au in hole
ES-IU-182
- 0.20 m at 65.70 g/t Au in hole
ES-IU-183
- 0.26 m at 715.99 g/t Au and
0.13 m at 93.34 g/t Au in hole
ES-IU-191
- 0.20 m at 56.14 g/t Au in hole
ES-IU-195
- 0.49 m at 118.75 g/t Au in hole
ES-IU-202
- 0.14 m at 99.87 g/t Au in hole
ES-IU-208
_____________________
|
1 All
intersection widths are corrected for true vein width
|
Surface drilling targeting a particularly rich vein located in
shallower areas of the mine near the existing operations over a
strike distance of 240 m was successful in confirming
continuity of the vein from the surface. New mine development is
now underway based on these successful drilling results, and with
the support of an updated geological interpretation, are expected
to convert to high grade mineral resources and reserves. Highlights
include:
- 0.29 m at 536.75 g/t Au in hole
MAN-ES-017A
- 0.39 m at 178.24 g/t Au in hole
MAN-ES-020
- 0.19 m at 812.16 g/t Au in hole
MAN-ES-021
Underground drillholes were strategically planned at that same
high grade vein target over a strike distance of 200 m to identify new mineral resources adjacent
to the current mine infrastructure and to confirm continuity at
depth. This drilling was successful and is expected to extend our
high grade mineral resources, in addition to discovering a new vein
in the hangingwall and two new veins in the footwall. Highlights
include:
- 0.40 m at 137.80 g/t Au in hole
ES-EU-141
- 0.37 m at 15.37 g/t Au in hole
ES-EU-145
- 0.28 m at 13.13 g/t Au in hole
ES-EU-154
- 0.50 m at 26.93 g/t Au in hole
ES-EU-158
Finally, a series of infill holes designed to upgrade and expand
existing mineral resources at the Providencia mine were drilled to
test the downdip extension of a major high grade vein, with
successful results that are expected to drive the short and medium
term mine production plans. Highlights include:
- 0.28 m at 29.61 g/t Au in hole
MAR-IU-034
- 0.29 m at 11.10 g/t Au in hole
MAR-IU-041
- 0.16 m at 207.79 g/t Au in hole
MAR-IU-052
Technical Disclosure
All samples comprise half diamond drill core and were prepared
and assayed by the commercial laboratory SGS (ISO 9001:2008)
located in MedellĂn, 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.
The scientific and technical information contained in this news
release was approved by Pamela De
Mark, P.Geo., Senior Vice President, Geology and Exploration
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 gold producer in the Americas, currently
operating two mines with expansions underway in Colombia. The Segovia Operations and the
Marmato Upper Mine produced 226,000 ounces of gold in 2023. Aris
Mining is targeting a production rate of approximately 500,000
ounces of gold per year in the second half of 2026, following a
ramp-up period after the Segovia mill expansion scheduled for
completion in Q1 2025 and the Marmato Lower Mine's first gold pour
in late 2025. Aris Mining also operates the 51% owned Soto Norte
joint venture, where Feasibility level studies are underway on a
new, smaller scale development plan, with results expected in early
2025. In Guyana, Aris Mining is
advancing Toroparu, a gold/copper project. Aris Mining intends to
pursue acquisitions and other growth opportunities to unlock value
through scale and diversification.
Aris Mining promotes the formalization of traditional miners
into contract mining partners 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, www.sedarplus.ca, and on www.sec.gov.
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 results being expected to continue to drive
annual growth in Segovia's mineral resources, the identification of
new mine mineral resources being expected to lengthen mine life and
to provide future mill feed, drilling programs being expected to
result in significant additions to inferred mineral resources, the
Company's expected updated mineral resource and reserve estimates
at the Segovia Operations and the timing thereof, the Company's
targeted production rate of approximately 500,000 ounces per year
in 2026 and the details 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". The material factors or assumptions used to develop
forward looking information or statements are disclosed throughout
this news release.
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 those
factors discussed in the section entitled "Risk Factors" in Aris
Mining's annual information form dated March
6, 2024 which is available on SEDAR+ at www.sedarplus.ca and
in the Company's filings with the SEC at www.sec.gov. These factors
should be considered carefully, and readers should not place undue
reliance on the Company's forward-looking statements. The Company
has no intention and undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
This news release contains information that may constitute
future-orientated financial information or financial outlook
information (collectively, FOFI) about the Company's prospective
financial performance, financial position or cash flows, all of
which is subject to the same assumptions, risk factors, limitations
and qualifications as set forth above. Readers are cautioned that
the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may
prove to be imprecise or inaccurate and, as such, undue reliance
should not be placed on FOFI. The Company's actual results,
performance and achievements could differ materially from those
expressed in, or implied by, FOFI. The Company has included FOFI in
order to provide readers with a more complete perspective on the
Company's future operations and management's current expectations
relating to the Company's future performance. Readers are cautioned
that such information may not be appropriate for other purposes.
FOFI contained herein was made as of the date of this news release.
Unless required by applicable laws, the Company does not undertake
any obligation to publicly update or revise any FOFI statements,
whether as a result of new information, future events or
otherwise.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/aris-mining-announces-high-grade-drill-results-from-ongoing-segovia-operations-exploration-program-302220298.html
SOURCE Aris Mining Corporation