Location and History

The Marmato mine is located in the Marmato gold district in the Caldas Department, a mountainous region approximately 80 kilometres south of Medellin, Colombia.

The Marmato gold district has been mined since pre-Colonial times by the Quimbaya people. The gold resource was so significant that Simon Bolivar, the revolutionary leader who liberated much of South America from Spanish rule, used the gold as collateral with British banks to secure funding for a war of independence against Spain. The current mine on the Zona Baja property has been in operation since 1993.

The Marmato mine is supported by excellent infrastructure, located by the Pan American Highway and with access to the national electricity grid, which runs near the property.

Geology and Mineralization

The discovery of the Lower Mine, below 950 metres elevation, 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.

Mine Site Layout

The Lower Mine expansion project will include the construction of a second decline access, mine workings, 4,000 tpd CIP plant, dry stack tailings, and a project camp. The Marmato mine is supported by excellent infrastructure with access to the Pan American highway and the national electricity grid.

Marmato Expansion Highlights


@ 3.2 g/t

P&P gold Reserves


@ 3.0 g/t

M&I gold Resources


@ 2.4 g/t

Inferred gold Resources

20 year

Mine life

Based on P&P Reserves



Processing capacity


Per year

Gold production


Per oz

LOM average AISC



Lower Mine development capex