Gran Colombia Gold Corp. (TSX:GCM) announced today that its 2018
exploration program at its Segovia Operations has identified a new
structure at the El Silencio mine, interpreted as a splay off the
Manto Vein and termed the 1320 Vein. The Company also provided an
update of the assay results from the surface and underground
diamond infill drilling program at the Providencia, El Silencio and
Sandra K mines. To-date, the Company has completed 64 holes,
totaling approximately 7,000 meters, of its planned 20,000 meters
to be drilled in 2018. Multiple high-grade results from the ongoing
underground sampling program in the deepest levels of the El
Silencio mine were also announced today.
Serafino Iacono, Executive Co-Chairman of Gran
Colombia, commented: "The drilling and sampling results announced
today continue to affirm our belief in the blue sky potential of
our high-grade Segovia Operations to add to our existing mineral
reserves and resources. The delineation of a new structure at El
Silencio is also very encouraging and we will be following up on
this discovery with some further drilling on the 1320 Vein to
incorporate it into our future development and production
plan."
A total of four drill rigs are currently
operating at Segovia with three rigs carrying out resource
definition within the underground developments of the Providencia
and El Silencio mines and one drill rig operating from surface at
Sandra K targeting peripheral extensions to the known vein
system.
- In-fill drilling at Providencia was mainly aimed to further
delineate one of the main high-grade orebodies on which sparse
previous surface drilling had intersected high gold grades.
Multiple high gold grades were intersected in 11 drill holes (764
metres) drilled from underground in the ongoing drilling program on
the main vein system with maximum grades of 712.48 g/t Au and 821.4
g/t Ag over 0.77 metres. In-fill drilling was also aimed to test
the Providencia vein system at the eastern end of the mine, close
to the northeast trending shear zone that delimits the mine
workings. Only two high-grade intercepts were generated from 19
drill holes (1,571 metres) on the main vein system with maximum
grades of 540.03 g/t Au and 383.8 g/t Ag over 0.28
metres.
- In-fill drilling at El Silencio was aimed to test the
down-plunge extension of the main ore-shoot located at the northern
end of the mine. Multiple high gold grades were generated from 17
drill holes (1,116 metres) drilled from underground in the ongoing
drilling program on the main vein system with maximum grades of
18.93 g/t Au and 88.3 g/t Ag over 0.85 metres. A secondary
ore-shoot to the south of the main one was also tested and returned
two high-grade intercepts with maximum grades of 25.45 g/t Au
and 19.1 g/t Ag over 0.31 metres.
- In-fill drilling at Sandra K was aimed to delineate and extend
two ore-shoots outlined by surface drilling carried out in early
2017. Multiple high gold grades were generated from 17 drill holes
(3,600 metres) drilled from surface in the ongoing drilling program
on the main vein system with maximum grades of 20.98 g/t Au and
65.7 g/t Ag over 1.50 metres.
- Underground channel samples were taken from vein exposures
within the underground developments at the bottom of the El
Silencio mine. A total of 424 channels were sampled, of which 168
channels were collected on the down-plunge extension of the north
ore-shoot and 256 channels were collected on the down-plunge
extension of the south ore-shoot. The average grade of the 168
channels of the north ore-shoot was 32.46 g/t Au and 42.3 g/t Ag
over 1.34 m, with sample grades ranging from trace up to 311.44 g/t
Au and up to 152.7 g/t Ag. Of these, 104 channels, or 62% of
the total, averaged over 10.0 g/t Au, and 55 channels, representing
33% of the total samples, averaged greater than 30.0 g/t Au. The
average grade of the 256 channels from the south ore-shoot was
43.71 g/t Au and 31.2 g/t Ag over 1.52 m, with sample grades
ranging from trace up to 330.13 g/t Au and up to 297.5 g/t Ag, with
187 channels, representing 73% of the total, averaging over 10.0
g/t Au, and 108 channels, representing 42% of the total samples,
averaging greater than 30.0 g/t Au.
Segovia Drilling Highlights and Key
Intercepts
- Drilling results from the Providencia mine confirm the
previously modelled high-grade nature, strong down-plunge
continuity of gold mineralization and the thickness of one of the
main orebodies currently in production on Level 14;
- In-fill drilling at the El Silencio mine was successful in
delineating a new structure, interpreted as a splay off the Manto
Vein and termed the 1320 Vein, and also confirmed the economic
potential of the Manto Vein in between the Pre-K and K faults;
- In-fill drilling at Sandra K was successful in delineating and
further extending down-plunge the two ore-shoots outlined by
drilling in early 2017;
- The in-fill drill programs continue to increase the confidence
in the geological models of the Providencia, El Silencio and Sandra
K orebodies through increased drill density.
- The in-fill drilling programs focused on providing increased
definition and confidence in the near and medium-term mine
operations and include the following key intercepts:
Hole ID |
From (m) |
To (m) |
Width (m) |
Vein |
Au (g/t) |
Au*Width |
Ag (g/t) |
Providencia Mine |
PV-IU-084* |
27.73 |
28.50 |
0.77 |
Providencia |
712.48 |
548.61 |
821.4 |
PV-IU-086* |
20.50 |
21.00 |
0.50 |
Providencia |
85.44 |
42.72 |
67.7 |
PV-IU-086* |
21.89 |
22.38 |
0.49 |
FW Providencia |
137.19 |
67.22 |
40.5 |
PV-IU-087* |
25.00 |
26.28 |
1.28 |
HW Providencia |
95.75 |
122.56 |
43.0 |
PV-IU-087* |
30.52 |
33.27 |
2.75 |
Providencia |
101.49 |
279.10 |
57.8 |
PV-IU-088* |
25.45 |
26.04 |
0.59 |
Providencia |
13.64 |
8.05 |
16.1 |
PV-IU-089* |
42.70 |
45.60 |
2.90 |
Providencia |
321.19 |
931.44 |
154.4 |
PV-IU-089* |
55.06 |
55.96 |
0.90 |
FW Providencia |
105.0 |
94.50 |
17.3 |
PV-IU-089* |
61.60 |
66.10 |
4.50 |
FW Providencia |
59.78 |
269.0 |
12.6 |
PV-IU-091* |
61.10 |
62.54 |
1.44 |
Providencia |
18.65 |
26.85 |
13.1 |
PV-IU-108* |
45.35 |
45.63 |
0.28 |
FW Providencia |
540.03 |
151.21 |
383.8 |
PV-IU-121* |
42.88 |
43.13 |
0.25 |
Providencia |
43.19 |
10.80 |
52.7 |
El Silencio Mine |
ES-IU-007* |
20.65 |
20.92 |
0.27 |
1320 Vein |
14.0 |
3.78 |
17.1 |
ES-IU-008* |
17.17 |
17.51 |
0.34 |
1320 Vein |
7.65 |
2.60 |
13.7 |
ES-IU-010* |
32.02 |
33.19 |
1.17 |
Manto Vein |
13.87 |
16.23 |
25.1 |
ES-IU-014* |
16.33 |
16.70 |
0.37 |
1320 Vein |
9.58 |
3.54 |
9.3 |
ES-IU-015* |
81.38 |
82.11 |
0.73 |
Manto Vein |
11.70 |
8.54 |
10.0 |
ES-IU-017* |
38.77 |
40.05 |
1.28 |
Manto Vein |
15.09 |
19.31 |
23.6 |
ES-IU-017* |
76.70 |
77.55 |
0.85 |
Manto Vein |
18.93 |
16.09 |
88.3 |
ES-IU-018* |
38.77 |
40.05 |
1.23 |
Piso Vein |
9.87 |
12.14 |
23.8 |
ES-IU-020* |
55.50 |
55.80 |
0.30 |
Piso Vein |
14.23 |
4.27 |
23.1 |
ES-IU-026* |
16.20 |
16.51 |
0.31 |
Manto Vein |
25.45 |
7.89 |
19.1 |
Hole |
From (m) |
To (m) |
Width (m) |
Vein |
Au (g/t) |
Au*Width |
Ag (g/t) |
Sandra K Mine |
SK-IS-052 |
181.95 |
182.95 |
1.00 |
Sandra K Techo |
7.26 |
7.26 |
15.4 |
SK-IS-053 |
199.57 |
199.88 |
0.31 |
FW Sandra K Techo |
8.10 |
2.51 |
9.4 |
SK-IS-055 |
180.55 |
182.05 |
1.50 |
Sandra K Techo |
20.98 |
31.47 |
65.7 |
SK-IS-057 |
179.23 |
180.35 |
1.12 |
Sandra K Techo |
11.91 |
13.34 |
177.2 |
SK-IS-059 |
187.59 |
188.96 |
1.37 |
Sandra K Techo |
13.96 |
19.13 |
12.2 |
SK-IS-063 |
208.75 |
210.05 |
1.30 |
Sandra K Techo |
9.07 |
11.79 |
40.8 |
* Denotes underground drill holes. The underground holes were
drilled at 0 to -90 degrees from the horizontal, and the
intersection lengths do not represent true widths. Sample grades
over 7.0 g/t Au reported. Grades are for quartz vein intersections
and are length-weighted composites. The length is the sample length
and is not necessarily the true width of the vein. All gold and
silver grades are uncut and are not diluted to a minimum mining
width. Abbreviations: FW: foot wall vein; HW: hanging wall
vein. |
El Silencio Mine Channel Sampling
Highlights and Key Intercepts
- The ongoing underground sampling program continues to be
successful in identifying high-grade veins within the current
mineral reserve and resource envelope and is playing a key role in
the definition of veins that will be incorporated into updated
mineral reserve and resource estimates planned for early next year;
and,
- These results are proving extremely valuable in validating the
geological model from the historical channel sampling.
- Highlights of the channel sampling of the El Silencio mine are
shown in the following table (channel samples averaging greater
than 100 g/t Au):
Channel ID |
Width (m) |
Au (g/t) |
Ag (g/t) |
North Zone Level 38 |
ES61445 |
1.32 |
101.43 |
101.4 |
ES34909 |
1.47 |
105.35 |
125.8 |
ES61459 |
1.44 |
105.80 |
82.9 |
ES61440 |
2.08 |
106.55 |
85.4 |
ES34915 |
1.13 |
114.38 |
84.5 |
ES62239 |
1.34 |
123.27 |
42.3 |
ES62242 |
0.84 |
125.34 |
81.0 |
ES61437 |
1.64 |
179.96 |
38.0 |
ES61427 |
2.21 |
192.46 |
37.9 |
ES34912 |
1.95 |
271.77 |
131.1 |
ES62308 |
1.24 |
282.39 |
137.0 |
ES61102 |
1.06 |
311.44 |
132.5 |
Channel ID |
Width (m) |
Au (g/t) |
Ag (g/t) |
South Zone Level 45 |
ES61683 |
1.37 |
100.01 |
19.1 |
ES61741 |
1.7 |
102.26 |
89.1 |
ES34643 |
1.39 |
102.46 |
68.9 |
ES61546 |
0.98 |
106.23 |
53.4 |
ES34320 |
1.35 |
110.03 |
36.6 |
ES61670 |
1.2 |
110.54 |
55.9 |
ES34191 |
1.45 |
111.04 |
28.0 |
ES61969 |
1.5 |
112.26 |
63.8 |
ES34800 |
1.57 |
112.66 |
58.0 |
ES34788 |
0.87 |
114.35 |
90.3 |
ES34067 |
1.85 |
115.54 |
103.5 |
ES61963 |
2.2 |
118.29 |
44.5 |
ES61708 |
1.99 |
121.82 |
39.4 |
ES34582 |
1.73 |
122.85 |
47.6 |
ES34750 |
2.26 |
126.01 |
80.0 |
ES61589 |
2.61 |
130.85 |
36.1 |
ES34172 |
1.66 |
131.28 |
82.5 |
ES34625 |
1.81 |
132.82 |
24.1 |
ES34052 |
1.11 |
134.18 |
120.5 |
ES61561 |
1.43 |
149.06 |
67.3 |
ES34270 |
1.57 |
157.83 |
86.9 |
ES34188 |
0.94 |
160.86 |
63.7 |
ES34232 |
1.66 |
163.47 |
129.6 |
ES61959 |
1.95 |
196.27 |
89.5 |
ES61930 |
1.12 |
254.84 |
52.2 |
ES34554 |
1.09 |
285.88 |
108.6 |
ES61630 |
1.69 |
286.34 |
136.6 |
ES34330 |
1.25 |
291.48 |
108.2 |
ES34558 |
1.12 |
323.84 |
124.9 |
ES34805 |
1.59 |
330.13 |
297.5 |
Channel samples over 100 g/t Au reported. The grades are the
length-weighted average of all samples in each channel including
wall rock. The sample grades are uncut. The channels are taken over
the height of the mine working. |
Samples were taken with hammer and chisel as
continuous channels approximately 5 cm wide and 2.5 cm deep,
following industry best practice. Individual sample widths
generally averaged no more than one meter, and multiple samples
were taken across the total width of wider veins and sheeted vein
swarms. Sampling includes at least 10 cm of hanging wall and
footwall dilution, when possible.
Please refer to Attachments 1 to 6 to this press
release for illustrative maps related to the Providencia, El
Silencio and Sandra K in-fill drilling programs and channel
sampling at the El Silencio mine, copies of which are also
available on the Company's website at www.grancolombiagold.com.
Qualified Person
Dr. Stewart D. Redwood, PhD, FIMMM, Senior
Consulting Geologist to the Company, is a qualified person as
defined by National Instrument 43-101 – Standards of Disclosure or
Mineral Projects and prepared or reviewed the preparation of the
scientific and technical information in this press release in
respect of the drilling and channel results from the Segovia
Project. Dr. Redwood verified the data disclosed in this news
release, including the sampling, analytical and test data
underlying the information contained in this news release.
Verification included a review of the quality assurance and quality
control samples, and review of the applicable assay databases and
assay certificates.
Quality Assurance and Quality
Control
Diamond drilling was carried out using HQ core.
The core was logged geologically and sample intervals were
determined on the basis of geology. The core was saw-cut lengthwise
with one half of each sample placed in a sample bag and the other
half returned to the core-box for reference. The samples were
prepared and assayed by SGS Laboratories Ltd (ISO 9001:2008) at
their laboratory in Medellin, Colombia. Gold was assayed by fire
assay with atomic absorption spectrophotometer (“AAS”) finish.
Samples over 10 g/t gold were re-assayed by fire assay with
gravimetric finish. Silver was assayed by aqua regia digestion and
AAS finish. Samples over 500 g/t Ag were re-assayed by nitric and
hydrochloric acid digestion and AAS finish. Blank, standard and
duplicate samples were routinely inserted for quality assurance and
quality control.
About Gran Colombia Gold
Corp.
Gran Colombia is a Canadian-based gold and
silver exploration, development and production company with its
primary focus in Colombia. Gran Colombia is currently the largest
underground gold and silver producer in Colombia with several
underground mines in operation at its Segovia and Marmato
Operations. Gran Colombia is in the midst of an expansion and
modernization project at its Segovia Operations.
Additional information on Gran Colombia can be
found on its website at www.grancolombiagold.com and by reviewing
the Company’s page on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking
Information: This news release contains "forward-looking
information", which may include, but is not limited to, statements
with respect to the future financial or operating performance of
the Company and its projects. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Gran Colombia to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors
that could cause actual results to differ materially from those
anticipated in these forward-looking statements are described under
the caption "Risk Factors" in the Company's Annual Information Form
dated as of March 27, 2018, which is available for view on SEDAR at
www.sedar.com. Forward-looking statements contained herein are made
as of the date of this press release and Gran Colombia disclaims,
other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information,
results, future events, circumstances, or if management's estimates
or opinions should change, or otherwise. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements.
For Further Information, Please Contact:Mike
DaviesChief Financial Officer(416)
360-4653investorrelations@grancolombiagold.com
Six figures accompanying this announcement are
available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/2bf04561-c155-49a9-abae-c1ff7aa0f867
http://www.globenewswire.com/NewsRoom/AttachmentNg/b60ea3e1-6242-495d-9268-4a3bfca2dcb5
http://www.globenewswire.com/NewsRoom/AttachmentNg/8a4b291f-678d-41bc-a945-fd2a9b38b48e
http://www.globenewswire.com/NewsRoom/AttachmentNg/cbb60804-0c8a-4211-a5ba-99415b98da45
http://www.globenewswire.com/NewsRoom/AttachmentNg/2ff7a19e-3b73-40b5-ad00-00493f210cd2
http://www.globenewswire.com/NewsRoom/AttachmentNg/53cb151a-db71-404b-98d0-2c891255fde8
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