Caldas Gold Reports Third Quarter and First Nine Months 2020 Results

About this update from Aris Mining Corp

[{"type":"text","content":" TORONTO, Nov. 11, 2020 (GLOBE NEWSWIRE) -- Caldas Gold Corp. (TSX-V: CGC: OTCQX: ALLXF) announced today the release of its unaudited interim condensed consolidated financial statements and accompanying management’s discussion and analysis (MD&A) for the three and nine months ended September 30, 2020. All financial figures contained herein are expressed in U.S. dollars (“USD”) unless otherwise noted. Serafino Iacono, Chairman and CEO of Caldas Gold, commenting on the Company’s latest results, said, “We are pleased with the significant progress we have made since we announced the Preliminary Feasibility Study (the “2020 PFS”) results for our Marmato Project in early July. Our third quarter production rebounded after a challenging second quarter affected by the COVID-19 situation and we are on track to meet our revised production guidance for this year. Over the last few months, we have completed three financings, raising total gross proceeds of $230.5 million, including the announcement last week that we have executed the Wheaton stream agreement. We are now positioned to move forward with the planned expansion of mining operations in the Marmato Deep Zone (“MDZ”). Drilling results announced earlier this week continue to build our sense of excitement as the New Zone continues to deliver robust gold grades over significant lengths that start to demonstrate continuity and a developing high-grade zone similar to the adjacent Main Zone. In addition, the 300 meters strike extension for the Main Zone provides us with another zone ready for infill drilling to continue to grow the underground mining expansion at Marmato. The discovery of the Fortaleza Zone opens up a prospective new area to the north. All in all, our Marmato Project continues to demonstrate its prowess as a rare world-class system, both in terms of its size and grades.” Third Quarter and First Nine Months 2020 Highlights Caldas Gold is continuing to progress in its plan to build Colombia’s next major gold mine. In July 2020, the Company announced the results of the 2020 PFS for its Marmato Project. On July 29, 2020, the Company completed a CA$50 million bought deal of Special Warrants which were exercised on September 28, 2020. On August 26, 2020 the Company completed a private placement offering of subscription receipts for gross proceeds of $83.1 million. The Compa...

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