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VANCOUVER, BC, March 14, 2023 /PRNewswire/ - Aris Mining Corporation ("Aris Mining" or the "Company") (TSX: ARIS) (OTCQX: TPRFF) announces an updated mineral resource estimate for the Toroparu Project in Guyana, effective February 10, 2023 (the "2023 MRE"). Aris Mining will file an updated technical report in support of the 2023 MRE within 45 days of this news release.
Neil Woodyer, CEO of Aris Mining, commented: "Following completion of the GCM Mining and Aris Gold merger in September 2022, Aris Mining started a re-evaluation process for the Toroparu Project and reduced the previously planned expenditures until the development plan is fully defined. Today, we are reporting the results of the updated mineral resource estimate which is based on a new detailed structural analysis and updated geological model. The Aris Mining team has confirmed that Toroparu is a large-scale gold-copper deposit with an updated measured and indicated resource estimate of 5.4 million ounces of gold and 118 thousand tonnes of copper, and an inferred resource estimate of 1.2 million ounces of gold. We are progressing additional studies to update, fully define, and optimize the development plan."
2023 Mineral Resource Estimate Update
Table 1 summarizes the 2023 MRE effective February 10, 2023. The full break down of the 2023 MRE, including estimates related to copper and silver, is provided in Table 2.
Table 1: Summary of the Toroparu 2023 MRE
Measured | Indicated | Measured & Indicated | Inferred | |||||||||
Tonnes | Grade Au | Oz Au | Tonnes | Grade Au | Oz Au | Tonnes | Grade Au | Oz Au | Tonnes | Grade Au | Oz Au | |
(Mt) | (g/t) | (koz) | (Mt) | (g/t) | (koz) | (Mt) | (g/t) | (koz) | (Mt) | (g/t) | (koz) | |
2023 MRE | 42.4 | 1.45 | 1,975 | 72.6 | 1.46 | 3,398 | 115.0 | 1.45 | 5,373 | 21.2 | 1.71 | 1,168 |
Notes: | |
1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Totals may not add due to rounding. The 2023 MRE is based on a gold price of US$1,650 per ounce. | |
2. See "Qualified Person and Technical Information" below. | |
Table 2: Toroparu Mineral Resources, effective February 10, 2023
Area | Category | Tonnes (Mt) | Grade Au (g/t) | Grade Cu (%) | Grade Ag (g/t) | Contained Au (koz) | Contained Cu (kt) | Contained Ag (koz) |
Open Pit | Measured | 42.3 | 1.45 | 0.14 | 1.8 | 1,967 | 61 | 2,455 |
Indicated | 69.0 | 1.42 | 0.08 | 1.3 | 3,159 | 55 | 2,817 | |
Measured + Indicated | 111.3 | 1.43 | 0.10 | 1.5 | 5,126 | 116 | 5,272 | |
Inferred | 9.7 | 1.29 | 0.04 | 0.8 | 404 | 4 | 255 | |
Underground | Measured | 0.1 | 1.89 | 0.03 | 0.4 | 8 |
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