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Aris Gold becomes operator of Soto Norte, Colombia

13th April 2022

By: Creamer Media Reporter

     

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Toronto-listed Aris Gold has closed the acquisition of a 20% joint venture interest in the Soto Norte gold project in Colombia, with the option to acquire a further 30% interest.

Soto Norte will produce more than 450 000 oz/y at an average all-in sustaining cost of $471/oz from a five-million-ounce mineral reserve.

"Soto Norte is a large-scale gold project that is well-aligned with our core strengths as mine operators in Colombia. The construction of Soto Norte is expected to follow the expansion of our 100%-owned Marmato gold mine in Colombia,” said CEO Neil Woodyer.

Aris also announced that it had upsized the existing precious metals stream at the 100%-owned Marmato mine by $65-million and arranged a $35-million debenture that is convertible into common shares of the company.

Edited by Creamer Media Reporter

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