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Colombia
Marmato DZ Expansion Project (Marmato Upper Zone)

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 Location:
85 km S from Medellín, Colombia
  Project Contacts:
Calle 4 Sur No 43A-195 Centro Ejecutivo
oficina 230B
Medellin
Colombia
050021
Phone  ...  Subscription required
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
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  • Filings & News
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Overview

StageConstruction
Mine TypeUnderground
Commodities
  • Gold
  • Silver
Mining Method
  • Longhole open stoping
  • Paste backfill
Production Start...
Mine Life13 years (as of Jan 1, 2022)
Marmato Project refers to the mining assets principally comprising the existing producing underground gold mine, the existing 1,200 tonnes per day (t/d) processing plant defined as the Upper Zone, and the area encompassing the Marmato Deep Zone (MDZ) mineralization, all located within the mining license area referred to as Zona Baja.

Owners

Source: p. 1-2
CompanyInterestOwnership
Aris Mining Corp. 100 % Indirect
Caldas Gold Marmato S.A.S. (operator) 100 % Direct
Marmato Project (Marmato Project) owned by Caldas Gold Marmato S.A.S. (CGM or the Company), an indirect, wholly-owned subsidiary of Aris Gold (Formerly Caldas Gold).
GCM Mining Corp. (Formerly Gran Colombia Gold Corp.) now owns approximately 44.3% of Aris Gold.

On September 26, 2022, GCM Mining Corp. and Aris Gold Corporation completed the business combination previously announced on July 25, 2022. The combined entity has been renamed Aris Mining Corporation.

At closing, GCM Mining was renamed Aris Mining Corporation and Aris Gold amalgamated with 1373945 B.C. Ltd. to form Aris Mining Holdings Corp. (Aris Holdings), which is now a wholly owned subsidiary of Aris Mining.

Contractors

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Deposit Type

  • Mesothermal
  • Vein / narrow vein
  • Epithermal

Summary:

The Marmato gold deposit consists of a structurally controlled epithermal vein system with a mineral assemblage dominated by pyrite, arsenopyrite, black iron (Fe) rich sphalerite, pyrrhotite, chalcopyrite and electrum in the Upper Zone (UZ), and a mesothermal veinlet system with a mineral assemblage dominated by pyrrhotite, chalcopyrite, bismuth minerals and visible gold in the MDZ.

The MDZ mineralization consists of a network of thin, less than 5 centimeters, sulfide veinlets, mainly pyrrhotite+chalcopyrite, hosted in weak argillic and deeper potassic alteration which is related to a previous event and rimmed by a thin sodium-calcitic alteration halo, which is related to the mineralization. Recent geological reports on MDZ (Sillitoe, 2019) concluded:

• Gold grade distribution in the Zona Baja (MDZ) mineralized orebody is unrelated to the presence of distinct porphyry phases and is entirely dependent on the intensity of structurally localized veinlets;
• Potassic alteration, represented chiefly by biotite, is progressively better preserved at depth in the Zona Baja, raising the possibility that early potassic alteration could also be gold bearing, but further work is required to confirm this theory;
• Gold distribution appears to be exclusively a product of veinlet intensity and orientation related to structural controls during orogenesis. The veinlets responsible for much of the Zona Baja gold are those containing quartz, pyrrhotite and tra ........

Mining Methods

  • Longhole open stoping
  • Paste backfill

Summary:

For this PFS, there are three different mining methods, separated into three distinct zones as follows:
- The first zone is the mineralized vein material between 950 m elevation to 1,300 m elevation, referred to as the Veins. This is the current mine and will be mined using the current conventional cut and fill stope method.
- The second zone is the wider porphyry material between 950 m elevation and 1,050 m elevation, referred to as the Transition Zone. A modified longhole stoping method will be used in this area. The stope size is 15 m wide by 15 m high with varying length of up to 26 m. These stopes are mined in a primary-secondary sequence with paste backfill for the primary stopes and unconsolidated waste rockfill for the secondary stopes. Where waste rock is unavailable, hydraulic sand fill will be used to fill the secondary stopes.
- The third zone is the porphyry material below 950 m elevation, referred to as MDZ. There is a 10 m sill pillar left in situ between the MDZ and the UZ (Veins plus Transition area). The MDZ material can be mined using a longhole stoping method with stope sizes that are 10 m wide by 30 m high, with varying lengths of up to 30 m. The MDZ area is currently not developed.

The first two zones (Veins and Transition) are considered the UZ, and the material is processed in the existing processing facility. The third zone is considered the MDZ and the material is envisioned to be sent to a new processing facility. Separate ........

Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.

Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 1751,865
Silver oz  ......  Subscription required
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual mining rate  ......  Subscription required
^ Guidance / Forecast.
* According to 2020 study.
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Reserves at June 30, 2021:
Mineral resources are reported above a cut-off grade of 1.4 g/t Au.
Mineral reserves are reported above cut-off grades of 1.61 g/t Au.

CategoryTonnage CommodityGradeContained Metal
Probable 14,556 kt Gold 2.9 g/t 1,333 koz
Probable 14,556 kt Silver 3.8 g/t 1,799 koz
Measured 0.1 Mt Gold 5.7 g/t 18 koz
Measured 0.1 Mt Silver 22.3 g/t 69 koz
Indicated 43.2 Mt Gold 2.7 g/t 3,753 koz
Indicated 43.2 Mt Silver 3.6 g/t 5,027 koz
Measured & Indicated 43.3 Mt Gold 2.7 g/t 3,771 koz
Measured & Indicated 43.3 Mt Silver 3.7 g/t 5,096 koz
Inferred 29.2 Mt Gold 2.6 g/t 2,407 koz
Inferred 29.2 Mt Silver 2.6 g/t 2,409 koz

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Gold USD  ......  Subscription required&nbs
Total cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2020 study / presentation.
† Net of By-Product.
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2020 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Expansion CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 270.4
G&A costs $M USD 190.9
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Operating margin, %  ......  Subscription required
Operating margin (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax NPV @ 10% $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 10% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.
Pipelines
TypeMaterialDiameterLengthDescription

Proposed Heavy Mobile Equipment as of March 17, 2020:
HME TypeModelSizeQuantity
Bolter ....................... Subscription required 110 kW ....................... Subscription required
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Mar 17, 2020
....................... Subscription required ....................... Subscription required Subscription required Mar 17, 2020
....................... Subscription required ....................... Subscription required Subscription required Mar 17, 2020
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2020

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Corporate Presentation 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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