ARIS MINING ANNOUNCES UPDATED MINERAL RESOURCE ESTIMATE FOR THE TOROPARU PROJECT IN GUYANA
Aris Mining Corporation (TSX: ARIS) has announced an updated mineral resource estimate (2023 MRE) for the Toroparu Project in Guyana, effective February 10, 2023. The estimate includes a measured and indicated resource of 5.4 million ounces of gold and 118,000 tonnes of copper, along with an inferred resource of 1.2 million ounces of gold. This update follows a strategic review post the GCM Mining and Aris Gold merger in September 2022, resulting in reduced expenditures until the development plan is defined. An updated technical report will be filed within 45 days. The mineral resource estimates are based on a gold price of US$1,650 per ounce.
- Updated measured and indicated resource of 5.4 million ounces of gold and 118,000 tonnes of copper.
- Inferred resource estimate of 1.2 million ounces of gold.
- The 2023 MRE based on new detailed structural analysis and geological model.
- Mineral resources are not mineral reserves and lack demonstrated economic viability.
- The company has reduced previously planned expenditures until the development plan is fully defined.
2023 Mineral Resource Estimate Update
Table 1 summarizes the 2023 MRE effective
Table 1: Summary of the Toroparu 2023 MRE
Measured | Indicated | Measured & Indicated | Inferred | |||||||||
Tonnes | Grade | Tonnes | Grade | Tonnes | Grade | Tonnes | Grade | |||||
(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 | |
2. See "Qualified Person and Technical Information" below. |
Table 2: Toroparu Mineral Resources, effective
Area | Category | Tonnes | Grade | Grade | Grade | Contained | Contained | Contained Ag |
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 |
3. | Totals may not add up due to rounding. |
4. | |
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
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
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
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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FAQ
What is the updated mineral resource estimate for Aris Mining's Toroparu Project?
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