Business
Aris Gold Completes Soto Norte Joint Venture Investment and Becomes Operator
All amounts in US dollars, unless otherwise indicated VANCOUVER, BC, April 12, 2022 /CNW/ - Aris Gold Corporation (Aris Gold or the Company) (TSX: ARIS) ( OTCQX
About this update from Aris Mining Corp
[{"type":"text","content":" All amounts in US dollars, unless otherwise indicated VANCOUVER, BC, April 12, 2022 /CNW/ - Aris Gold Corporation (Aris Gold or the Company) (TSX: ARIS) ( OTCQX: ALLXF) announces that, further to the Company's news release of March 21, 2022, it has closed the acquisition of a 20% joint venture interest in the Soto Norte gold project in Colombia, with the option to acquire a further 30% interest. Aris Gold has also upsized the existing precious metals stream at the 100%-owned Marmato Mine by $65 million and arranged a $35 million debenture (the Debenture) that is convertible into common shares of Aris Gold at a conversion price of US$1.75 (approximately C$2.211). Aris Gold CEO Neil Woodyer stated: \"Soto Norte is a large-scale gold project that is well-aligned with our core strengths as mine operators in Colombia. The construction of Soto Norte is expected to follow the expansion of our 100%-owned Marmato gold mine in Colombia. We look forward to engaging with the Soto Norte communities and developing a mine that implements sustainable mining practices to ensure protection of the environment and the local ecosystem.\" Soto Norte Highlights Soto Norte hosts Indicated mineral resources of 8.5 million ounces (Moz) of gold and Inferred mineral resources of 3.6 Moz of gold Indicated mineral resources of 48.1 million tonnes (Mt) at 5.47 grams per tonne (g/t) of gold, 35.8 g/t of silver, and 0.18% copper containing 8.5 Moz of gold, 55.3 Moz of silver, and 193 million pounds (Mlb) of copper, inclusive of mineral reserves Inferred mineral resources of 27.3 Mt at 4.06 g/t of gold, 25.9 g/t of silver, and 0.18% copper containing 3.6 Moz of gold, 22.8 Moz of silver, and 107 Mlb of copper Soto Norte Feasibility Study2 demonstrates production of over 450,000 gold ounces per year at average AISC of $471/oz from 5.0 Moz Mineral Reserve 14-year mine life, based on Probable mineral reserves of 24.8 Mt at 6.22 g/t of gold, 34.4 g/t of silver, and 0.19% copper, containing 5.0 Moz of gold, 27.4 Moz of silver, and 103 Mlb of copper Project NPV5% is $1.5 billion and IRR is 20.8%, at base case gold price of $1,675 per ounce Project NPV5% is $2.0 billion and IRR is 24.4%, at gold price of $1,925 per ounce Aris Gold will provide a new and informed approach to environmental permitting: Following detailed technical feedback from the Colombia...