Name of the Project
Soto Norte gold project.

Location
California – Vetas mining area, in Colombia.

Project Owner/s
Aris Gold has entered into a definitive agreement with MDC Industry Holding Company (Mubadala), a wholly owned subsidiary of the Abu Dhabi-based investment company Mubadala Investment Company, to acquire a 20% joint venture interest in the Soto Norte gold project, with the option to acquire a further 30% interest.

Aris Gold is the operator of the project.

Project Description
The Soto Norte gold project is one of the world’s biggest feasibility-stage projects with high-grade mineral reserves, low capital intensity, low operating costs and district-scale potential.

The project hosts indicated mineral resources of 48.1-million tonnes at 5.47 g/t of gold, 35.8 g/t of silver and 0.18% of copper, containing 8.5-million ounces of gold, 55.3-million ounces of silver and 193-million pounds of copper, inclusive of mineral reserves.

Inferred mineral resources are estimated at 27.3-million tonnes at 4.06 g/t of gold, 25.9 g/t of silver and 0.18% of copper, containing 3.6-million ounces of gold, 22.8-million ounces of silver and 107-million pounds of copper.

Soto Norte has a 14-year mine life, based on probable mineral reserves of 24.8-million tonnes at 6.22 g/t of gold, 34.4 g/t of silver and 0.18% copper, containing five-million ounces of gold, 27.4-million ounces of silver and 107-million pounds of copper. The project has been designed as an underground mine with a 2.6-million-tonne-a-year processing capacity, producing about production of 450 000 oz/y of gold.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a base case gold price of $1 675/oz, the project has an after-tax net present value, at a 5% discount rate, of $1.5-billion and an internal rate of return of 20.8%,

Capital Expenditure
Soto Norte has an estimated $1.2-billion initial capital cost, including contingency and preproduction costs.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

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