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
Following the discovery of a large porphyry mineralised zone below the historic Marmato upper mine, Aris Gold proposes to build a modern long-life, low-cost, 175 000  oz/y gold operation in the lower mine.

The lower mine expansion will include the construction of a new decline, mine workings, a 5 500 t/d processing plant, dry stack tailings and a project camp. 

Aris has elected to use a mining contractor rather than 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.

The life-of-mine plan is based on a mineral reserve of two-million ounces of gold comprising 19.7-million tonnes at an average grade of 3.2 g/t gold. Based only on mineral reserves, Marmato has a 13-year mine life.

In November 2021, Aris reported estimated measured and indicated resources at 5.8-million ounces of gold comprising  56.9-million tonnes at 3.2 g/t gold. Inferred mineral resources were 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
Capital expenditure is estimated at $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.