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Aris Gold Announces Q2 2021 Financial and Operating Results
VANCOUVER, BC, Aug. 11, 2021 /CNW/ - Aris Gold Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX: ALLXF) reports financial and operating results for the
About this update from Aris Mining Corp
[{"type":"text","content":" VANCOUVER, BC, Aug. 11, 2021 /CNW/ - Aris Gold Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX: ALLXF) reports financial and operating results for the three and six months ended June 30, 2021 (Q2 2021 and H1 2021, respectively). All amounts are in US dollars, unless otherwise indicated. Q2 2021 Highlights During Q2 2021 Aris Gold continued to advance the Lower Mine project at the Marmato mine in Colombia, with notable developments including: In April, Aris Gold awarded the engineering, procurement and construction management contract to Wood PLC, a global leader in consulting and engineering with extensive experience delivering mining projects across Latin America. In April, Aris Gold received $34 million of the $110 million precious metals purchase agreement stream financing from Wheaton Precious Metals International Ltd (WPM). The remaining $76 million will be received in three additional installments as the development of the Lower Mine progresses. In May, Aris Gold submitted the updated Environmental Management Plan (PMA) to the regional environmental authority, Corpocaldas, which addresses the environmental impacts of the Lower Mine development. Aris Gold continued with the 35,000-metre exploration drill program at Marmato. Consistent with previous results, drilling continued to show high-grade mineralization over broad widths demonstrating potential to extend the 13-year mine life outlined in the Company's 2020 technical report for the Marmato project. As of August 2021, this drill program is approximately 85% complete. Aris Gold strengthened its operating and construction teams at Marmato with the addition of two senior operations executives in Colombia. Expenditures of $8.0 million incurred for the Lower Mine, including $3.2 million related to the 35,000-metre drilling campaign and $4.8 million related to early works, land acquisitions, technical studies and other related costs. The Marmato Upper Mine performance optimization activities included a comprehensive review of operations management, administrative and organizational structures. The implementation of several initiatives is now under way, including a program that prioritizes the needs of the underground mine workers with preferred access to accommodation at the site camp. In addition, Aris Gold launched an initial 10,000-metre drill program at th...