VANCOUVER, BC, May 4, 2021 /PRNewswire/ - Aris Gold
Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX:
ALLXF) announces the commencement of an initial 10,000-metre drill
program at its Juby Project in the Abitibi greenstone belt of
Ontario. The Juby Project covers
14,000 acres over a 10-kilometre strike length of the
west-northwest trending Tyrrell Shear
Zone. Drilling is anticipated to begin in Q3 2021.
Aris Gold CEO Neil Woodyer
commented: "Juby is located in a prolific gold region of
Canada with many senior mining and
junior exploration companies active in the area. The Juby Project
has not benefited from an active exploration program since
2018."
The initial 2021 drill program will target an extension between
the Golden Lake and Big Dome
deposits and test the known high-grade mineralized zones. The
planned work program is based on recommendations in the Juby
Technical Report dated October 5,
2020 and having an effective date of July 14, 2020. The report is available on the
Company's website a www.arisgold.com and under the Company's SEDAR
profile at www.sedar.com.
The Juby Project contains a within pit Mineral Resource Estimate
(MRE) that includes 773,000 ounces (oz) indicated mineral resources
of gold based on 21.3 million tonnes at an average grade of 1.13
grams per tonne (g/t) , and 1,488,000 oz inferred mineral resources
of gold based on 47.1 million tonnes at an average grade of 0.98
g/t. The MRE used a cut-off grade of 0.4 g/t gold and a gold price
of US$1,450 per oz. The MRE is based
on 379 drill holes totalling 105,861 metres. All deposits at the
Juby Project are associated with well-defined gold mineralization
trends and models and are open along strike and at depth.
Field Work and COVID-19 Protocols
The health and safety of personnel at site and the communities
in which the Company operates are of paramount importance to Aris
Gold. All personnel are conducting operations according to the most
recent government of Ontario
protocols on COVID-19 restrictions, ensuring the health and safety
of everyone involved at the Juby Project.
Technical Information
The scientific disclosure and technical information included in
this news release is based on information included in the technical
report entitled "Technical Report on the Updated Mineral Resource
Estimate for the Juby Gold Project" dated October 5, 2020 with an effective date of
July 14, 2020 and prepared by
Joe Campbell, B.Sc., P.Geo.,
Alan Sexton, M.Sc., P.Geo.,
Duncan Studd, M.Sc., P.Geo. and
Allan Armitage, Ph.D., P.Geo., each
of whom is independent of the Company within the meaning of NI
43-101 and is a "Qualified Person" as such term is defined in NI
43-101. The Juby Technical Report was prepared in compliance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects.
The technical information in this news release was reviewed and
approved by Alan Sexton, P.Geo.,
technical consultant for Aris, who is an independent qualified
person for the technical disclosure as defined by National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects (NI 43-101).
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 and expansion program is underway, 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.
Additional information on Aris Gold can be found at
www.arisgold.com and www.sedar.com.
Forward-looking Information
This news release contains "forward-looking information" or
forward-looking statements" within the meaning of Canadian
securities legislation. All statements included herein, other than
statements of historical fact, including without
limitation statements relating to the planned drill program
are forward-looking. Generally, the forward-looking information and
forward looking statements can be identified by the use of forward
looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate",
"will continue" or "believes", or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Statements concerning mineral resource estimates may
also be deemed to constitute forward looking information to the
extent that they involve estimates of the mineralization that will
be encountered. The material factors or assumptions used to develop
forward looking information or statements are disclosed throughout
this presentation.
Forward looking information and forward looking statements,
while based on management's best estimates and assumptions, are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Aris Gold to be materially different from those
expressed or implied by such forward-looking information or forward
looking statements, including but not limited to: the ability of
the Aris Gold management team to successfully integrate with the
current operations, risks related to international operations,
risks related to general economic conditions, uncertainties
relating to operations during the COVID-19 pandemic, actual results
of current exploration activities, availability of quality assets
that will add scale, diversification and complement Aris Gold's
growth trajectory; changes in project parameters as plans continue
to be refined; fluctuations in prices of metals including gold; the
ability to convert mineral resources to mineral reserves;
fluctuations in foreign currency exchange rates, increases in
market prices of mining consumables, risks associated with holding
derivative instruments (such as credit risks, market liquidity risk
and mark-to-market risk), possible variations in mineral reserves,
grade or recovery rates; failure of plant, equipment or processes
to operate as anticipated; changes in national and local government
legislation, taxation, controls, regulations, regulations and
political or economic developments in Canada or Colombia, accidents and operations, labour
disputes, title disputes, claims and limitations on insurance
coverage and other risks of the mining industry; delays in
obtaining governmental approvals including obtaining required
environmental and other licenses, or in the completion of
development or construction activities, changes in national and
local government regulation of mining operations, tax rules and
regulations, and political and economic developments in countries
in which the Company operates, as well as those factors discussed
in the section entitled "Risk Factors" in Aris Gold's most recent
AIF available on SEDAR at www.sedar.com.
Although Aris Gold has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information and forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such information or statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information or statements. The Company has and
continues to disclose in its Management's Discussion and Analysis
and other publicly filed documents, changes to material factors or
assumptions underlying the forward-looking information and
forward-looking statements and to the validity of the information,
in the period the changes occur. The forward-looking statements and
forward-looking information are made as of the date hereof and Aris
Gold disclaims any obligation to update any such factors or to
publicly announce the result of any revisions to any of the
forward-looking statements or forward-looking information contained
herein to reflect future results. Accordingly, readers should not
place undue reliance on forward-looking statements and
information.
This announcement does not constitute an offer of securities for
sale in the United States, nor may
any securities referred to herein be offered or sold in
the United States absent
registration or an exemption from registration as provided in the
U.S. Securities Act of 1933 as amended (the "Securities Act") and
the rules and regulations thereunder. The securities referred to
herein have not been registered pursuant to the Securities Act and
there is no intention to register any of the securities in
the United States or to conduct a
public offering of securities in the
United States.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/aris-gold-announces-initial-10-000-metre-drill-program-at-juby-project-in-the-abitibi-greenstone-belt-ontario-301282933.html
SOURCE Aris Gold Corporation