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Aris Gold Announces 2020 Financial Results
VANCOUVER, BC, March 31, 2021 /CNW/ - Aris Gold Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX: ALLXF) announces fourth quarter (Q4) and full year 20
About this update from Aris Mining Corp
[{"type":"text","content":" VANCOUVER, BC, March 31, 2021 /CNW/ - Aris Gold Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX: ALLXF) announces fourth quarter (Q4) and full year 2020 financial results from its wholly owned Marmato mine in Colombia. The Company's 2020 Management's Discussion and Analysis (MD&A) and Financial Statements have been filed under the Company's profile on SEDAR at www.sedar.com and are available on the Company's website at www.arisgold.com. 2020 Achievements Since the launch of the Company in February 2020, significant achievements and rapid progress has been made, including: Completed a Preliminary Feasibility Study (PFS) for the expansion of the Marmato mine, which focused on the development of the Marmato Deep Zone (MDZ) mineralization, construction of a new 4,000 tonne per day (tpd) plant, new dry stack tailings storage facilities and the use of efficient mechanized mining methods. Established a new Life of Mine plan for the Marmato mine based on a total Mineral Reserve1 of 2.0 million contained ounces (oz) gold from exploration drilling results to mid-March 2020. Launched a 35,000-metre drill program at Marmato which commenced in May 2020, with the principal objective of converting Inferred Mineral Resources to Indicated Mineral Resources while also testing several newly discovered areas. Drilling results during 2020 included high-grade mineralization over broad widths demonstrating potential to extend the 13-year mine life outlined in the PFS. As of March 2021, this drill program was approximately 50% complete. Acquired the Juby Gold Project in July 2020, an advanced stage exploration project in northeastern Ontario, and completed an updated Mineral Resource Estimate (the Juby MRE). which is included in the Juby Technical Report (as defined below). The Juby MRE included Indicated Resources of 770,000 contained oz gold based on 21.3 million tonnes at an average grade of 1.13 g/t and Inferred Resources of 1,488,000 contained oz of gold based on 47.1 million tonnes at an average grade of 0.98 g/t. Completed three financings for gross proceeds of $186.5 million, which included: C$50.0 million ($37.4 million) bought deal financing $83.1 million senior secured Gold-Linked Notes (GLN) financing C$85.0 million ($66.0 million) private placement led by the current Board and management Arranged a $110.0 million precio...