May 7, 2025 – Vancouver, BC — In a game-changing development for Colombian gold exploration, Quimbaya Gold Inc. (CSE: QIM) has signed a 50:50 joint venture letter of intent with Denarius Metals Corp. (OTCQX: DNRSF).
Unlike most junior mining explorers with no revenue, this strategy will allow Quimbaya Gold to generate a revenue stream through artisanal mining and accelerate drilling at its Tahami Project, located in the heart of the Segovia Gold District, one of the richest gold-producing areas in Latin America.
At the centre of this partnership is mine building legend Serafino Iacono, Executive Chairman of Denarius and one of the most influential mine builders in Colombian mining history.
Iacono made his mark by transforming his Segovia gold project—once in liquidation in 2010—into one of the highest-grade, most productive gold mines in Latin America through his leadership at Gran Colombia Gold.
He also led the discovery of the Deep Zone at the Marmato Mine (now owned by billionaire Frank Giustra’s company – Aris Mining), another key Colombian asset.
Iacono’s legacy continued as Gran Colombia evolved into GCM Mining, which later merged with Aris Gold in September 2022 to form Aris Mining (TSX: ARIS; OTC: TPRFF)—now Colombia’s largest gold producer and one of the top gold mining companies in the Americas.
Importantly, Aris Mining owns 10% of Denarius, creating a strategic triangle: Aris Mining’s flagship Segovia operations directly border Quimbaya’s Tahami Project, where an aggressive drilling campaign is about to begin. This proximity, coupled with the backing of Iacono and his experienced team, positions Quimbaya for both near-term production and long-term discovery potential.
Potential JV Highlights:
- 50:50 production JV: All joint venture costs pre-financed by Denarius.
- Formalization of artisanal mining: Structured integration of small-scale mining aligned with proven models.
- Immediate cash flow potential: Monetizing current operations while drilling continues.
- Drilling underway: A 4,000-meter campaign at Tahami South is already advancing.
“This is a pivotal step for Quimbaya. Partnering with one of the most experienced mining teams in Colombia will allow us to leverage existing opportunities while delivering on our community commitments and driving exploration forward.” – said Alexandre P. Boivin, CEO of Quimbaya Gold.
Why It Matters:
This JV isn’t just a collaboration—it’s a strategic alliance with a mining pioneer who has repeatedly delivered transformative results in Colombia.
With the Segovia district already proving its high-grade potential, and Aris Mining as a nearby anchor and stakeholder in Denarius, Quimbaya is perfectly positioned to ride the next wave of Colombian gold growth.
[READ OUR RECENT QUIMBAYA GOLD ARTICLE & ANALYSIS]
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