Caldas Gold Extends Main Zone More Than 300 Meters Along Strike; Announces Record Intercept of 5.73 g/t Au Over 63.20 Meters in New Zone

About this update from Aris Mining Corp

[{"type":"text","content":" TORONTO, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Caldas Gold Corp. (TSX-V: CGC; OTCQX: ALLXF) is pleased to announce additional higher-grade gold intercepts over broad widths from the ongoing 2020-2021 drilling program at its Marmato Project in Caldas, Colombia. The current drill program is designed to in-fill higher-grade gold mineralization in the recently discovered New Zone (“NZ”) and expand and in-fill the strike extension of the Main Zone (“MZ”) to the southeast to be included in an update of the mineral resource and reserve estimates in 2021, with the aim of significantly increasing the life of the mine. New drill results released today are from ten diamond drill holes (6,067 meters) drilled mainly in the MZ and in the NZ, both part of the Marmato Deeps Zone (“MDZ”). This initial phase of the 2020-2021 drilling program was successful in proving high-grade mineralization over broad widths in the recently discovered NZ, and it has extended the MZ along strike by more than 300 meters, where it remains open. Both zones are anticipated to be accretive to overall global resource growth as this mineralization lies either outside the boundary of the current mineral resource estimate block model for the MZ or in areas that were previously estimated to be below the cut-off grade due to lack of drill hole information. Drill hole MT-IU-076 in the NZ delivered the highest-grade intersection to date with 63.20 m at 5.73 g/t Au and 5.2 g/t Ag. As part of the ongoing drilling program, two wildcat drill holes, MT-IU-068 and MT-IU-071A, were completed to explore the Fortaleza Zone north of the MDZ for structural traps interpreted as dilational jogs such as those related to the MZ and NZ. Both were successful in intersecting broad zones of low-grade gold mineralization, which opens a new area that requires additional drilling to fully evaluate its potential. Serafino Iacono, Executive Chairman and CEO of Caldas Gold, commented, “Our sense of excitement continues to build as the NZ continues to deliver robust gold grades over significant lengths that start to demonstrate continuity and a developing high-grade zone similar to the adjacent MZ. In addition, the 300 meters strike extension for the MZ provides us with another zone ready for infill drilling to continue to grow the underground mining expansion at Marmato. The discovery of the Fortaleza ...

More updates from Aris Mining Corp