Gran Colombia Provides Its 2021 Production Guidance for Segovia; Declares Monthly Dividend to Be Paid on March 15, 2021
16 Februar 2021 - 1:00PM
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today
that it expects to produce between 200,000 and 220,000 ounces of
gold in 2021 from its high-grade Segovia Operations in Antioquia,
Colombia. In 2020, the Segovia Operations produced 196,362 ounces
of gold.
Lombardo Paredes, Chief Executive Officer of
Gran Colombia, commenting on the Company’s expected production in
2021, said, “Our Segovia Operations continue to be one of the
highest-grade underground global gold mines. In 2021, we are
complementing our ongoing mining operations and exploration at our
four existing mines with a broader regional drilling program within
our mining title targeting the other 24 of 27 known veins which we
are not currently mining. While the month of January typically
starts off a little slower following the holidays and this year
included a two-day planned shutdown of the Maria Dama plant for
regular maintenance, we are maintaining our COVID-19 protocols and
we are confident our mine plan will deliver more than 200,000
ounces of gold production from Segovia in 2021.”
Gran Colombia processed an average of 1,336
tonnes per day (“tpd”) in January 2021 at its Segovia Operations
with an average head grade of 12.6 g/t resulting in 15,055 ounces
of gold production for the month. January’s production reflected a
scheduled semi-annual two-day plant shutdown for regular
maintenance. Over the last 10 years, the Company has produced a
total of approximately 1.3 million ounces of gold from its Segovia
Operations at an average head grade of 13.8 g/t. In 2021, the
Company expects that head grades will continue to average between
13 to 15 g/t over the course of the year.
With the recent closing of the Aris transaction
with Caldas Gold, Gran Colombia’s equity ownership in the new Aris
Gold Corporation (TSX: ARIS; OTCQX: ALLXF) (“Aris Gold”) is now
approximately 44.3%. As such, starting in 2021, Gran Colombia will
equity account for its investment in Aris Gold and will not include
the Marmato mine in its production reporting.
Monthly Dividend
Declaration
Gran Colombia is pleased to announce today that
its Board of Directors has declared the next monthly dividend of
CA$0.015 per common share will be paid on March 15, 2021 to
shareholders of record as of the close of business on February 26,
2021.
About Gran Colombia Gold
Corp.
Gran Colombia is a Canadian-based mid-tier gold
producer with its primary focus in Colombia where it is currently
the largest underground gold and silver producer with several mines
in operation at its high-grade Segovia Operations. Gran Colombia
owns approximately 44.3% of Aris Gold, a Canadian mining company
currently advancing a major expansion and modernization of its
underground mining operations at its Marmato Project in Colombia.
Gran Colombia’s project pipeline includes its Zancudo Project in
Colombia, currently in the process of being spun out to ESV
Resources Ltd. (TSX-V: ESV.H) together with an approximately 18%
equity interest in Gold X Mining Corp. (TSXV: GLDX) (Guyana –
Toroparu) and an approximately 26% equity interest in Western Atlas
Resources Inc. (“Western Atlas”) (TSX-V: WA) (Nunavut –
Meadowbank).
Additional information on Gran Colombia can be
found on its website at www.grancolombiagold.com and by reviewing
its profile 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 production guidance, payment of dividends and
anticipated business plans or strategies. 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 30, 2020 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,
Contact:Mike DaviesChief Financial Officer(416)
360-4653investorrelations@grancolombiagold.com
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