ARIS MINING REPORTS Q3 2024 GOLD PRODUCTION, UPDATES SEGOVIA RESERVE AND RESOURCE ESTIMATES AND EXPANSION MILESTONES
Aris Mining (TSX: ARIS) (NYSE-A: ARMN) reports Q3 2024 gold production of 53,608 ounces, a 9% increase from Q2 2024. Segovia produced 47,493 oz and Marmato Upper Mine 6,115 oz. The company has made significant progress on expansion projects:
1. Segovia Expansion: Phase 1 completed with expanded receiving area commissioned. Phase 2 on track for Q1 2025 completion.
2. Marmato Lower Mine: Construction advancing on schedule, crossed 25% spend threshold.
3. Updated Segovia mineral resource and reserve estimates as of July 31, 2024, showing growth in resources and full replacement of reserves.
Aris Mining targets Segovia gold production of 185,000-195,000 oz in 2024, 250,000 oz in 2025, and over 300,000 oz in 2026. The company aims to achieve an annual gold production rate of approximately 500,000 oz by H2 2026.
Aris Mining (TSX: ARIS) (NYSE-A: ARMN) riporta una produzione di oro nel Q3 2024 di 53.608 once, con un aumento del 9% rispetto al Q2 2024. Segovia ha prodotto 47.493 once e la Miniera Marmato Upper 6.115 once. L'azienda ha fatto progressi significativi nei progetti di espansione:
1. Espansione di Segovia: Fase 1 completata con l'area di ricezione ampliata in funzione. La Fase 2 è prevista per il completamento nel Q1 2025.
2. Miniera Marmato Lower: La costruzione avanza secondo programma, superando la soglia di spesa del 25%.
3. Stime aggiornate delle risorse minerarie e delle riserve di Segovia al 31 luglio 2024, che mostrano una crescita nelle risorse e una piena sostituzione delle riserve.
Aris Mining prevede una produzione di oro a Segovia di 185.000-195.000 once nel 2024, 250.000 once nel 2025 e oltre 300.000 once nel 2026. L'azienda mira a raggiungere un tasso di produzione annuale di circa 500.000 once entro il secondo semestre del 2026.
Aris Mining (TSX: ARIS) (NYSE-A: ARMN) informa sobre una producción de oro de 53,608 onzas en el Q3 2024, un aumento del 9% en comparación con el Q2 2024. Segovia produjo 47,493 onzas y la Mina Marmato Upper 6,115 onzas. La compañía ha logrado un progreso significativo en los proyectos de expansión:
1. Expansión de Segovia: Fase 1 completada con el área de recepción ampliada en funcionamiento. La Fase 2 está programada para finalizar en el Q1 2025.
2. Mina Marmato Lower: La construcción avanza según lo programado, habiendo superado el umbral de gasto del 25%.
3. Estimaciones actualizadas de recursos minerales y reservas de Segovia al 31 de julio de 2024, mostrando un crecimiento en los recursos y una completa sustitución de reservas.
Aris Mining tiene como objetivo una producción de oro en Segovia de 185,000-195,000 onzas en 2024, 250,000 onzas en 2025 y más de 300,000 onzas en 2026. La compañía aspira a alcanzar una tasa de producción anual de aproximadamente 500,000 onzas para el segundo semestre de 2026.
Aris Mining (TSX: ARIS) (NYSE-A: ARMN)은 2024년 3분기 금 생산량이 53,608온스이라고 보고하며, 이는 2024년 2분기 대비 9% 증가한 수치입니다. 세고비아는 47,493온스를 생산하였고 마르마토 상부 광산은 6,115온스를 생산하였습니다. 회사는 확장 프로젝트에서 중요한 성과를 거두었습니다:
1. 세고비아 확장: 1단계가 완료되어 확장된 수취 지역이 가동 중입니다. 2단계는 2025년 1분기 완공을 목표로 하고 있습니다.
2. 마르마토 하부 광산: 건설이 예정대로 진행되고 있으며, 지출이 25%를 초과했습니다.
3. 2024년 7월 31일 기준 세고비아의 업데이트된 광물 자원 및 매장량 추정치는 자원 증가와 매장량의 전면적 대체를 보여줍니다.
Aris Mining은 2024년 세고비아에서 금 생산량을 185,000-195,000온스, 2025년에 250,000온스, 2026년에 300,000온스 이상으로 목표하고 있습니다. 회사는 2026년 하반기까지 연간 500,000온스의 금 생산 속도를 달성하는 것을 목표로 하고 있습니다.
Aris Mining (TSX: ARIS) (NYSE-A: ARMN) annonce une production d'or de 53 608 onces au T3 2024, ce qui représente une augmentation de 9 % par rapport au T2 2024. Segovia a produit 47 493 onces et la mine supérieure Marmato 6 115 onces. L'entreprise a fait des progrès significatifs dans les projets d'expansion :
1. Expansion de Segovia: Phase 1 terminée avec une zone de réception agrandie mise en service. La phase 2 est prévue pour être achevée d'ici le T1 2025.
2. Mine inférieure Marmato: La construction avance comme prévu, ayant dépassé le seuil de dépenses de 25 %.
3. Estimations mises à jour des ressources minérales et des réserves de Segovia au 31 juillet 2024, montrant une croissance des ressources et un remplacement complet des réserves.
Aris Mining vise une production d'or à Segovia de 185 000 à 195 000 onces en 2024, de 250 000 onces en 2025, et de plus de 300 000 onces en 2026. L'entreprise vise à atteindre un taux de production annuel d'environ 500 000 onces d'ici le second semestre 2026.
Aris Mining (TSX: ARIS) (NYSE-A: ARMN) berichtet von einer Goldproduktion im Q3 2024 von 53.608 Unzen, was einem Anstieg von 9 % gegenüber Q2 2024 entspricht. Segovia produzierte 47.493 Unzen und die Marmato Upper Mine 6.115 Unzen. Das Unternehmen hat bedeutende Fortschritte bei den Expansionsprojekten gemacht:
1. Segovia-Expansion: Phase 1 abgeschlossen, mit erweitertem Empfangsbereich in Betrieb. Phase 2 liegt im Zeitplan für den Abschluss im Q1 2025.
2. Marmato Lower Mine: Der Bau schreitet planmäßig voran, 25 % der Ausgaben wurden überschritten.
3. Aktualisierte mineralische Ressourcen- und Reserveschätzungen für Segovia zum 31. Juli 2024, die ein Wachstum der Ressourcen und eine vollständige Ersetzung der Reserven zeigen.
Aris Mining hat sich zum Ziel gesetzt, die Goldproduktion in Segovia 2024 auf 185.000-195.000 Unzen, 2025 auf 250.000 Unzen und 2026 auf über 300.000 Unzen zu steigern. Das Unternehmen strebt an, bis zum zweiten Halbjahr 2026 eine jährliche Goldproduktionsrate von etwa 500.000 Unzen zu erreichen.
- Q3 2024 gold production increased 9% from Q2 2024 to 53,608 ounces
- Segovia Expansion Phase 1 completed and commissioned
- Segovia Expansion Phase 2 on track for Q1 2025 completion
- Marmato Lower Mine construction advancing on schedule
- Updated Segovia mineral resource estimates show growth
- Segovia mineral reserves fully replaced
- Targeting increased gold production: 185,000-195,000 oz in 2024, 250,000 oz in 2025, and over 300,000 oz in 2026 for Segovia
- Aiming for 500,000 oz annual gold production rate by H2 2026
- None.
Insights
The Q3 2024 gold production of
The updated mineral resource and reserve estimates show significant growth, supporting the expansion strategy. The
With a market cap of
The Segovia expansion is progressing well, with Phase 1 complete and Phase 2 on track for Q1 2025 completion. The new ball mill will significantly enhance throughput and processing efficiency. The updated mineral resource estimate shows impressive growth, with Measured & Indicated resources increasing to 3,396,000 oz at
The mineral reserve replacement and growth are particularly encouraging, increasing to 1,343,000 oz at
The Marmato Lower Mine project reaching the
Neil Woodyer, CEO of Aris Mining, commented "We are pleased to share the continued progress of our
Phase 1 of the
Gold production from
As announced in our August 2024 exploration drilling results news release1,
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1 See news release dated August 12, 2024 titled "Aris Mining Announces High Grade Drill Results from Ongoing Segovia Operations Exploration Program". |
Marmato expansion updates
The Marmato Lower Mine expansion is progressing on schedule, with the site access road and portal face now complete and the contractor preparing to initiate work on the twin declines. Both the SAG and ball mill fabrication are progressing on schedule for completion before the end of 2024. Annual gold production from the Marmato Upper and Lower mines is expected to grow to an average of 162,000 ounces over a 20-year mine life once the Lower Mine is operational3.
As of September 30, 2024, the project reached the "
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2 See Tables 1 and 2 for the full breakdown of tonnes, grade, and ounces by category and the "Technical Disclosure and Qualified Person" section below for full disclosure of technical and scientific details. |
3 See the "Technical Disclosure and Qualified Person" section below for full disclosure of technical and scientific details. |
Technical Disclosure
The table below summarizes the 2024 mineral resource estimate (the 2024 MRE) together with the disclosure of several years of previous mineral resource estimates.
Table 1 - Segovia Operations mineral resource estimates4
Effective date | Measured | Indicated | Measured & Indicated | Inferred | ||||||||
Tonnes (kt) | Grade Au (g/t) | Oz Au (koz) | Tonnes (kt) | Grade Au (g/t) | Oz Au (koz) | Tonnes (kt) | Grade Au (g/t) | Oz Au (koz) | Tonnes (kt) | Grade Au (g/t) | Oz Au (koz) | |
31–Jul-2024 | 3,637 | 16.03 | 1,875 | 2,943 | 16.07 | 1,521 | 6,580 | 16.05 | 3,396 | 5,138 | 15.38 | 2,541 |
30–Sep-2023 | 4,114 | 14.31 | 1,893 | 3,754 | 14.38 | 1,736 | 7,869 | 14.34 | 3,629 | 4,682 | 12.11 | 1,823 |
31-Dec-2022 | 405 | 15.39 | 200 | 4,569 | 10.16 | 1,492 | 4,974 | 10.58 | 1,692 | 5,325 | 9.44 | 1,616 |
31-Dec-2021 | 462 | 14.00 | 208 | 4,123 | 10.65 | 1,412 | 4,585 | 10.99 | 1,620 | 5,349 | 9.90 | 1,703 |
31-Dec-2020 | 327 | 19.78 | 208 | 3,640 | 10.40 | 1,217 | 3,967 | 11.17 | 1,425 | 3,661 | 10.28 | 1,210 |
Notes: • Mineral resources are inclusive of mineral reserves. • Mineral resources are not mineral reserves and have no demonstrated economic viability. • There are no known environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially affect the mineral resource estimate. • Totals may not add due to rounding. 2024 MRE Notes: • A gold price of • The 2024 MRE utilized a gold cut-off grade of between 2.84 g/t and 3.81 g/t depending on mineral resource area. The cut-off grade values were applied to vein grades diluted to a minimum mining width of one vertical metre. • The 2024 MRE was prepared by Pamela De Mark, P.Geo., Senior Vice President of Geology and Exploration of Aris Mining, who is a Qualified Person as defined by NI 43-101. Previous MRE Notes: • The mineral resource estimate used a US$ gold price of |
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4 See the "Technical Disclosure and Qualified Person" section below for full disclosure of technical and scientific details. |
Table 2 below summarizes the 2024 mineral reserve estimate together with several years of previous mineral reserve estimates.
Table 2 - Segovia Operations mineral reserve estimates5
Effective date | Proven | Probable | Proven & Probable | ||||||
Tonnes (kt) | Grade Au (g/t) | Oz Au (koz) | Tonnes (kt) | Grade Au (g/t) | Oz Au (koz) | Tonnes (kt) | Grade Au (g/t) | Oz Au (koz) | |
31–Jul-2024 | 1,886 | 11.25 | 682 | 1,989 | 10.33 | 660 | 3,875 | 10.78 | 1,343 |
30–Sep-2023 | 1,515 | 12.25 | 597 | 2,017 | 11.16 | 723 | 3,531 | 11.63 | 1,320 |
31-Dec-2022 | 229 | 10.92 | 81 | 2,132 | 9.84 | 675 | 2,361 | 9.95 | 755 |
31-Dec-2021 | 204 | 12.00 | 79 | 2,087 | 9.93 | 666 | 2,290 | 10.11 | 745 |
31-Dec-2020 | 187 | 13.86 | 83 | 2,009 | 8.51 | 550 | 2,196 | 8.96 | 633 |
Notes: • There are no known mining, legal, political, metallurgical, infrastructure, permitting, or other relevant factors that could materially affect the mineral reserve estimate. • Totals may not add due to rounding. 2024 Mineral Reserve Notes: • A gold price of • The 2024 mineral reserve estimate utilized a gold cut-off grade of between 3.11 g/t and 4.18 g/t depending on mineral resource area. The cut-off grade values were applied to vein grades diluted to a minimum mining width that varies according to the mining area. • The 2024 mineral reserve estimate was prepared by Aris Mining technical staff under the supervision of and reviewed by Miguel Marcelo Roldán, FAusIMM, Technical Services Manager, Segovia Operations, of Aris Mining, who is a Qualified Person as defined by NI 43-101. Previous Mineral Reserve Notes: • The mineral reserve estimate used a US$ gold price per ounce of |
The technical information in this news release was reviewed and approved by Pamela De Mark, P.Geo, Senior Vice President, Geology and Exploration of Aris Mining, who is a Qualified Person as defined by NI 43-101. Ms. De Mark has fully verified the sampling, analytical, and test data as well as the geological interpretation underlying the information or opinions disclosed in this news release by way of analysis of the data and the geological interpretations while preparing the 2024 MRE and reviewing the mineral reserve estimate.
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5 See the "Technical Disclosure and Qualified Person" section below for full disclosure of technical and scientific details. |
Unless otherwise indicated, the mineral resource and reserve estimates, scientific disclosure, and technical information included in this news release are based upon information included in the following documents and NI 43-101 compliant technical reports:
- for the annual gold production at Marmato, the technical report entitled "Technical Report for the Marmato Gold Mine, Caldas Department,
Colombia , PFS of the Lower Mine Expansion Project" dated November 23, 2022 and effective as of June 30, 2022, and prepared by SRK, Ausenco, Piteau Associates, and Aris Mining; - for the mineral resource and reserve estimate effective December 31, 2020, the technical report entitled "NI 43-101 Technical Report, Prefeasibility Study Update, Segovia Project, Department of Antioquia,
Colombia " dated May 13, 2021 and effective as of December 31, 2020 and prepared by SRK; - for the mineral resource and reserve estimate effective December 31, 2021, the technical report entitled "NI 43-101 Technical Report, Prefeasibility Study, Segovia Project, Antioquia,
Colombia " dated May 6, 2022 and effective as of December 31, 2021 and prepared by SRK; - for the mineral resource and reserve estimate effective December 31, 2022, the mineral reserve estimates of the Segovia Operations are summarized, derived, or extracted from the news release of the Company dated March 3, 2023; and
- for the mineral resource and reserve estimate effective September 30, 2023, the technical report entitled "NI 43-101 Technical Report for the Segovia Operations, Antioquia,
Colombia " dated December 6, 2023 and effective as of September 30, 2023 and prepared by Aris Mining.
All of the documents referenced in this news release are 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.
About Aris Mining
Aris Mining is a gold producer in the
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 and
Statements concerning mineral resources and mineral reserve estimates may also be deemed to constitute forward looking information to the extent that they involve estimates of the mineralization that will be encountered.
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.
Differences in
This press release has been prepared in accordance with the requirements of the securities laws in effect in
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SOURCE Aris Mining Corporation
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