ARIS MINING EXPANDS HIGH-GRADE SEGOVIA RESERVE AND RESOURCE ESTIMATES
Original announcement by tmx on
- Company
- Aris Mining Corporation
- Ticker
- ARIS
- Exchange
- TSX
- Region
- Colombia
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update, Other
- Extracted
- 2026-09-17 11:23:51 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Aris Mining has updated its Segovia gold project estimates, reporting a 7% increase in Measured and Indicated resources to 3.6 Moz and a 12% increase in Proven and Probable reserves to 1.5 Moz. The project maintains an exceptionally high-grade profile, with M&I resources averaging 15.3 g/t Au.
Reasoning: The update demonstrates substantial growth in both resource and reserve categories at a very high grade, driven by exploration success and successful conversion.
Positive factors
- Significant growth in M&I resources (+7%) and reserves (+12%)
- Exceptionally high-grade profile (15.3 g/t Au M&I)
- Successful conversion of resources to reserves
- Resource sensitivity analysis shows robustness to gold price changes
Facts used in scoring: 5
Classification and evidence
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: M&I resources increased by 7% and Inferred by 12% compared to the 2024 estimate.
Evidence · text
“Measured and indicated mineral resources increased by 7% to 3.6 million ounces of gold (Moz), up from 3.4 Moz in the 2024 estimate, while inferred resources increased by 12% to 2.9 Moz”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Proven and probable reserves increased by 12% (160,000 ounces) compared to the 2024 estimate.
Evidence · text
“proven and probable mineral reserves increased by 12% or 160,000 ounces, net of mined depletion”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Pamela De Mark, P.Geo. is named as the Qualified Person for the MRE.
Evidence · text
“The 2025 MRE was prepared by Pamela De Mark, P.Geo., Senior Vice President of Geology and Exploration of Aris Mining, who is a Qualified Person as defined by NI 43-101.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Cut-off grades for both resources and reserves are explicitly stated.
Evidence · text
“The 2025 MRE utilized a gold cut-off grade of between 2.04 g/t and 2.95 g/t”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The resource and reserve estimates are prepared under NI 43-101 standards.
Evidence · text
“who is a Qualified Person as defined by NI 43-101.”
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Resource Estimates (5)
indicatedSegovia · goldTonnes: 7371000Grade: 15.3Grade Unit: g/tContained Metal: 3626Contained Unit: kozView all detailsHide details
Identity
- Project
- Segovia
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- ARIS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-11-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pamela De Mark
- Resource group id
- resource:b3781d87df3bc7776f5a
- Mining method
- underground
Resource Data
- Category
- indicated
- Tonnes
- 7371000
- Grade
- 15.3
- Grade Unit
- g/t
- Contained Metal
- 3626
- Contained Unit
- koz
- Cutoff Grade
- 2.5
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-11-28
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-08T00:00:00.000Z
Reasoning: Strong M&I resource component with high grade.
Positive factors
- High grade (15.3 g/t)
- Significant tonnage
Evidence · table
“7,371”
Context: 7,371
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
inferredSegovia · goldTonnes: 6289000Grade: 14.13Grade Unit: g/tContained Metal: 2856Contained Unit: kozView all detailsHide details
Identity
- Project
- Segovia
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- ARIS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-11-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pamela De Mark
- Resource group id
- resource:041aaefa4f93b36b6a5a
- Mining method
- underground
Resource Data
- Category
- inferred
- Tonnes
- 6289000
- Grade
- 14.13
- Grade Unit
- g/t
- Contained Metal
- 2856
- Contained Unit
- koz
- Cutoff Grade
- 2.5
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-11-28
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-08T00:00:00.000Z
Reasoning: Large inferred component provides significant upside but lower confidence.
Positive factors
- Significant growth in inferred tonnes
Negative factors
- Inferred category limits economic confidence
Evidence · table
“6,289”
Context: 6,289
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
measuredSegovia · goldTonnes: 4050000Grade: 14.78Grade Unit: g/tContained Metal: 1925Contained Unit: kozView all detailsHide details
Identity
- Project
- Segovia
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- ARIS
Resource scope
- Estimate type
- resource
- Effective date
- 2025-11-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Pamela De Mark
- Resource group id
- resource:e650fbb5c33f65448844
- Mining method
- underground
Resource Data
- Category
- measured
- Tonnes
- 4050000
- Grade
- 14.78
- Grade Unit
- g/t
- Contained Metal
- 1925
- Contained Unit
- koz
- Cutoff Grade
- 2.5
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-11-28
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-08T00:00:00.000Z
Reasoning: High confidence measured component.
Positive factors
- High grade measured resource
Evidence · table
“4,050”
Context: 4,050
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
probableSegovia · goldTonnes: 4367000Grade: 10.7Grade Unit: g/tContained Metal: 1503Contained Unit: kozView all detailsHide details
Identity
- Project
- Segovia
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- ARIS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-11-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Miguel Marcelo Roldán
- Resource group id
- resource:c212a6741bcbec43ae3a
- Mining method
- underground
Resource Data
- Category
- probable
- Tonnes
- 4367000
- Grade
- 10.7
- Grade Unit
- g/t
- Contained Metal
- 1503
- Contained Unit
- koz
- Cutoff Grade
- 2.85
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-11-28
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-08T00:00:00.000Z
Reasoning: Successful conversion of resources to reserves.
Positive factors
- 12% increase in reserves
- Strong grade for reserves
Evidence · table
“4,367”
Context: 4,367
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
provenSegovia · goldTonnes: 1708000Grade: 9.92Grade Unit: g/tContained Metal: 545Contained Unit: kozView all detailsHide details
Identity
- Project
- Segovia
- Commodity
- gold
- Region
- colombia
- Reported Region
- Colombia
- Ticker
- ARIS
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-11-28T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Miguel Marcelo Roldán
- Resource group id
- resource:bb36cb140d218f874d01
- Mining method
- underground
Resource Data
- Category
- proven
- Tonnes
- 1708000
- Grade
- 9.92
- Grade Unit
- g/t
- Contained Metal
- 545
- Contained Unit
- koz
- Cutoff Grade
- 2.85
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2025-11-28
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-01-08T00:00:00.000Z
Reasoning: Solid proven reserve base.
Positive factors
- High grade proven reserve
Evidence · table
“1,708”
Context: 1,708
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.