Name of the Project
Marmato lower mine construction.

Location
Marmato gold district in the Caldas Department, in Colombia.

Project Owner/s
Aris Gold.

Project Description
The lower mine expansion project will include the construction of a new decline, mine workings, a 4 000 t/d carbon-in-pulp plant, dry stack tailings, and a project camp. 

Aris has elected to use a mining contractor rather that acquiring an owner-mining fleet. By using a mining contractor, the company expects to accelerate the development of the lower mine ramp and increase overall efficiencies.

A 2020 prefeasibility study (PFS) forecasts gold production profile averages of about 165 000 oz/y from 2024 to 2033 once the lower mine is in full production.

On the basis of increases to the mineral resources estimate released in June 2021, the updated gold production profile is expected to extend by several years beyond 2033.

Measured and indicated resources are estimated at 5.8-million ounces of gold, comprising  56.9-million tonnes at 3.2 g/t gold. Inferred mineral resources are estimated at 2.6-million ounces of gold, comprising 30.8-million tonnes at 2.6 g/t gold.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
The 2020 prefeasibility estimated capital expenditure of $270-million after factoring in Aris Gold’s decision to use a mining contractor rather than acquiring an owner-mining fleet.

Planned Start/End Date
First gold production from the lower mine is expected in the fourth quarter of 2023.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Aris Gold, email info@arisgold.com.