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Aris Gold Announces Marmato Expansion Updates Including Award of EPCM Contract

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Aris Gold Corporation  (TSX: ARIS) (OTCQX: ALLXF) announces it has taken several key steps in advancing the Lower Mine project at the Marmato Mine in Colombia. These include:

 

  • EPCM award. Following the completion of a competitive tender process, Aris Gold has awarded the engineering, procurement and construction management contract to Wood, a global leader in consulting and engineering with extensive experience delivering mining projects across Latin America.
  • Receipt of US$34 million of the US$110 million stream financing. The Company has received the initial US$34 million of the US$110 million precious metals stream financing from Wheaton Precious Metals International Ltd. Under the terms of the agreement, the remaining US$76 million will be received in three installments as the development of the Lower Mine progresses.
  • Appointment of key project and operations management. Aris Gold has recently retained the services of Peter Burger and Greg Moss to strengthen its operating and construction team. Peter and Greg both have a long history with the Aris Gold team having previously worked in similar roles in Mexico and Brazil with Leagold Mining and in West Africa with Endeavour Mining. Peter and Greg will both be based in Colombia and primarily dedicated to the Marmato Upper Mine operations and the development of the Lower Mine.
  • Advancing community projects. The Company completed construction of a major new 850m2 municipal park in the community of Marmato in March 2021, and expects to complete construction in May 2021 of a modern new community centre which will provide a central location for education and training (see Photos 1 and 2). To address the challenges of COVID-19 in the neighbouring communities, Aris Gold continues to fund the distribution of medical supplies, face masks, cleaning kits and nutrition packages.

 

Aris Gold CEO Neil Woodyer commented: “Awarding the EPCM contract to Wood who is commencing the detailed front-end engineering and design work is a key step to ensure the successful development and construction of the Lower Mine at Marmato, with construction scheduled to start in Q4 2021. I am very pleased to welcome back Peter Burger and Greg Moss to our team with their extensive operations and mine building expertise, at this timely moment. Peter and Greg will also be able to support the modernization process of our current operations in the Marmato Upper Mine. With these steps, we are making steady progress advancing the Lower Mine project which will see Marmato develop into a major long-life mine in Colombia. We are also pleased to continue to support our local communities.”

 

About Aris Gold

 

Aris Gold is a Canadian mining company listed on the TSX under the symbol ARIS. The Company is led by an executive team with a demonstrated track record of creating value through building globally relevant gold mining companies. Aris Gold operates the Marmato mine in Colombia, where a modernization program is underway and new mine is in development, and the Juby project, an advanced exploration stage gold project in the Abitibi greenstone belt of Ontario, Canada. Aris Gold plans to pursue acquisition and other growth opportunities to unlock value creation from scale and diversification.

 

 

Marmato Municipal Park opening ceremony, March 2021 (CNW Group/Aris Gold Corporation)

 


Caldas Community Centre in construction (CNW Group/Aris Gold Corporation)

 

Posted April 26, 2021

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