Ms. Meghan Brown reports
ARIS GOLD ANNOUNCES INITIAL 10,000-METRE DRILL PROGRAM AT JUBY PROJECT IN THE ABITIBI GREENSTONE BELT, ONTARIO
Aris Gold Corp. has commenced 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 chief executive officer 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 Oct. 5, 2020, and having an effective date of July 14, 2020. The report is available on the company's website and under the company's SEDAR profile.
The Juby project contains a within-pit mineral resource estimate (MRE) that includes 773,000 ounces indicated mineral resources of gold based on 21.3 million tonnes at an average grade of 1.13 grams per tonne, and 1,488,000 ounces 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 $1,450 (U.S.) per ounce. 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.
Fieldwork 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.
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 Oct. 5, 2020, with an effective date of July 14, 2020, and prepared by Joe Campbell, BSc, PGeo, Alan Sexton, MSc, PGeo, Duncan Studd, MSc, PGeo, and Allan Armitage, PhD, PGeo, 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, PGeo, 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.
About Aris Gold
Aris Gold is a Canadian mining company. The company is led by an executive team with a demonstrated 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 under way, 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.
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