Aris Mining Increases Segovia Gold Mineral Reserves By +75% To 1.3 Moz And Announces Plant Expansion To Increase Production Rate

About this update from Aris Mining Corp

[{"type":"text","content":" VANCOUVER, BC, Nov. 27, 2023 /CNW/ - Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS) (NYSE-A: ARMN) announces updated mineral reserve estimates for its Segovia Operations in Colombia effective September 30, 2023 (the \"2023 Mineral Reserve\"). This updated mineral reserve estimate follows the updated mineral resource estimate announced on November 2, 2023 (See News Release from November 2, 2023). Aris Mining is also increasing the capacity of the Maria Dama processing plant within the Segovia Operations from 2,000 to 3,000 tonnes per day (tpd). As we have an existing unutilized ball mill on site, the costs for the plant expansion are estimated at $11.0 million and completion is expected by early 2025. Neil Woodyer, CEO of Aris Mining, commented \"We are pleased to announce a 75% increase to the high-grade mineral reserves at the Segovia Operations to 1.3 million ounces of gold at 11.63 grams per tonne. Based on our current operating profile, the updated estimate extends the reserve-only mine life to nearly seven years. Like other operations with extensive vein systems within a large mining title, we expect to continue to extend mine life through ongoing exploration programs. Based on the increased mineral resource and reserve estimates, we are implementing a small-scope project to increase the processing capacity by 50% to 3,000 tpd at the Maria Dama plant by utilizing a previously purchased ball mill that is already on-site. This creates the potential to gradually increase annual gold production from 200,000 to 300,000 ounces, as we fill the extra capacity by increasing our mining rates. A portion of this extra capacity will be allocated to our artisanal and small-scale mining partners, offering processing solutions to them, while mitigating the environmental impacts of informal mining in Segovia.\" Segovia Operations – Maria Dama processing plant expansion The capacity of the Maria Dama processing plant is currently 2,000 tpd following an expansion project from 1,500 tpd completed in 2022. The plant includes crushing, grinding, gravity concentration, gold flotation and regrind, cyanidation, Merrill-Crowe precipitation, and smelting of the precipitate and gravity concentrate to produce gold-silver doré. The current project to expand to 3,000 tpd includes a previously purchased ball mill which is already o...

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