Project Overview
The Marmato Project, owned by Aris Gold (formally Caldas Gold), is located by the Pan American Highway with access to Medellin to the North and Manizales to the South, and has access to the national electricity grid, which runs near the property. Marmato comprises the existing producing underground gold and silver mine (Upper Mine), which has been in operation since 1991 and the Marmato Lower Mine project, both of which are covered by the Precious Metals Stream.
Mineralization within the Upper Mine is characterized by narrow veins where an existing operation mines material using conventional cut-and-fill stope methods and processes the ore in a 1,200 tpd plant.
Mineralization in the Lower Mine, includes wider porphyry mineralization that will be mined using longhole stoping methods and processed in a newly constructed plant as part of the Marmato mine expansion project. The Lower Mine remains open at depth and to the east where recent drilling resulted in the discovery of the New Zone.
Stream Details
| Date of Contract |
5-Nov-2020 (Amended Q1 2022) |
| Term |
Life of Mine |
| Stream |
10.5% of gold until 310 koz of gold, then 5.25% thereafter and 100% of silver production until 2.15 Moz of silver received, 50% thereafter |
| Upfront Consideration |
$175M |
| Per Unit Production Payment |
18% of spot gold and silver until the uncredited portion of the upfront payment is reduced to zero, 22% of spot gold and silver price thereafter |
| Cost Quartile |
Third |
For more information on the Marmato mine, please visit: www.aris-mining.com (opens in new tab)