Make Kitco Your Homepage

Aris Mining increases gold reserves at Segovia operations in Colombia

Kitco News

(Kitco News) - Aris Mining (TSX: ARIS) today announced updated mineral resource and reserve estimates for the Segovia gold operations in Colombia, effective December 31, 2022, which includes full replacement of gold ounces mined during 2022.

The company said that updated proven and probable mineral reserves amounted to 755.2 thousand ounces of gold from 2.4 million tonnes at 9.95 g/t gold. This compares to 744.7 thousand ounces from 2.3 million tonnes at 10.1 g/t gold as of December 31, 2021.

Aris also reported updated measured and indicated mineral resources of 1.7 million ounces of gold (2021 – 1.6 million ounces) from 5.0 million tonnes at 10.60 g/t gold and inferred mineral resources of 1.6 million ounces of gold (2021 – 1.7 million ounces) from 5.3 million tonnes at 9.44 g/t gold.

CEO Neil Woodyer commented, "Segovia is a high-grade gold operation that has been producing gold for more than 150 years. Following the 2022 in-mine and near-mine drilling campaign, we are pleased to report another year of replacing mined ounces with new reserves and resources.

“For 2023, we have planned an exploration drilling program of 84,500 metres at Segovia focussed on increasing the mineral reserves and life of mine plan, extending the known resources at the four producing mines, and further exploring strategic high priority vein targets located adjacent to the current mining operations."

In Colombia, Aris Mining operates several high-grade underground mines at its Segovia operations and the Marmato mine, which together produced 235,000 ounces of gold in 2022. Aris Mining also operates the Soto Norte joint venture, where environmental licensing is advancing to develop a new underground gold, silver and copper mine.

In Guyana, Aris Mining is advancing the Toroparu project, a gold/copper project. The company said it plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.