• Published 2 months ago

Gold Rim Exploration Inc. Looks to Extend the Mine Life of Carmen de Andacollo Project in Chile

Gold Rim Exploration Inc. has confirmed that they have received permits for two further deposits at its Carmen de Andacollo Project in Chile that will allow it to extend the life of the mine by at least a further 6 years, which will potentially see the mine operating beyond 2040.

The permits will enable the development of two areas, named CDA6 and CDA7, which were previously identified as having 'considerable deposits' following extensive exploration throughout 2024.

"The two new areas will eventually replace the existing operation at Carmen de Andacollo," said Mr. Devon Bissette, Co-Founder & CFO of Gold Rim Exploration Inc. in an interview with Mining Weekly. He continued, "We expect the first production at CDA6 to be in a position to start production around this time next year."

"The project only went into production a few years ago and originally had a mine life of maybe five to eight years, so these new permits allowing us to mine known considerable deposits in two new zones has added another six years, if not eight to the mine's life, which could see us maintaining production until 2040, and possibly beyond," Mr. Bissette added.

The company have announced that services and earthworks around the CDA6 with mining of the zone expected to start within twelve to fourteen months.

The two new zones are collectively forecast to produce up to 15,000 ounces of additional gold over the mine's life, expecting to generate over USD $40 million of additional revenue to me project.

Furthermore, the company believe what also sets them apart from other "non-major" gold companies is the their use of an in-house autoclave at the mine's processing plant, which has been in operation since 2022, allowing it to process ore at about USD $9 per ton, a figure that is nearly half the cost of comparable processing plants.

Gold Rim Exploration Inc. is also moving forward with its environmental management strategy, which targets an emissions' reduction goal to achieve of net-zero emissions from all its operations within 13 years. The company believes that their ESG [Environmental and Social Governance] performance has become increasingly important to investors in the mining industry, which the company is continually seeking to better align its approach with to address its investors and stakeholders' needs.

The company will make further announcements with regard to further developments over the coming weeks.