Gran Colombia Gold Corp. (TSX: GCM, OTCQX: TPRFF) announced today
high-grade intercepts from the first 59 diamond drill holes
totaling 10,229 meters of an in-fill drilling campaign that is
being carried out by the Company’s Mine Geology Department at the
El Silencio mine at its Segovia Operations. This 23,000 meters
drilling campaign, which commenced in 2020 and will be completed
this year, is focused on resource definition within the underground
mine developments of the El Silencio mine and complements the
previously announced 60,000 meters drilling program being carried
out in 2021 by the Company’s exploration team. High-grade
intercepts from two new veins recently discovered by this in-fill
drilling campaign at the El Silencio mine provide and corroborate
information of importance for the current and future development of
different sectors of this flagship mine.
The best high-grade intercepts from these latest
drill results at the El Silencio mine include:
- 1040 Vein, new discovery: 137.44
g/t Au and 10.1 g/t Ag over 0.56 meters (ES-GM-U51-20);
- 1150 Vein, new discovery: 93.19 g/t
Au and <0.3 g/t Ag over 0.54 meters (ES-GM-U59-20);
- 1180 Vein: 73.03 g/t Au and 32.0
g/t Ag over 0.30 meters (ES-GM-U49-20); and
- Manto Vein: 44.49 g/t Au and 98.5
g/t Ag over 0.35 meters (ES-GM-U17-21).
Serafino Iacono, Executive Chairman of Gran
Colombia, commented, “Our drilling programs in Segovia are
continuing to provide us with outstanding results. With the
discovery of two additional high-grade veins at the El Silencio
mine, close to the mine workings currently in production, we remain
confident that we will continue to expand mineral resources and add
to the mine life for this operation. These new discoveries are
further evidence that our main mines remain under-explored and have
the potential to be larger than what we understand today."
The Company’s Mine Geology Department currently
has three diamond drill rigs in operation at Segovia carrying out
resource definition within the underground developments of the El
Silencio mine in a program that has another 13,000 meters of
drilling to be completed this year. In addition, as outlined in the
Company’s press release dated June 9, 2021, the Company has another
seven diamond drill rigs in operation at Segovia, with three rigs
carrying out resource definition on the Sandra K mine from two
purpose-built surface platforms and one underground drill station
within the underground developments of the Sandra K mine; one rig
operating from Level 3 of the Sandra K mine targeting the
down-plunge extension of the south ore-shoot of the El Silencio
mine; one rig operating from surface at Providencia exploring the
westernmost end of the Providencia vein system; one rig operating
from the deepest underground developments of the Providencia mine
exploring the down-dip extension of the Marmajito Vein; and one rig
operating from surface at Carla to follow-up the high-grade
intercepts encountered at depth during the last drilling
campaign.
Key Highlights
1040 Vein (New Discovery; Attachments 2
and 3)
Exploration and in-fill drilling on the northern
sector of the Manto Vein System, from underground stations
ES900N-A, ES710N-A, ES810N-A and ES610N-A, installed on levels 22,
25 (ES710N-A/ES810N-A) and 26, respectively, led to the discovery
of a new high-grade vein called the 1040 Vein,
which is an E-W trending structure, shallow-dipping to the NE,
located in the footwall of the 1180 Vein and interpreted to merge
into the Manto Vein System down-dip. Multiple high gold grades were
intersected from 32 multi-target drill holes (6,900 meters) on the
main vein system with maximum intersection grades of 137.44
g/t Au and 10.1 g/t Ag over 0.56 meters on the
1040 Vein (ES-GM-U51-20). The footprint of the
orebody outlined on the 1040 Vein so far is over 500 meters
down-dip by 200 meters wide, and it remains open up and down-dip.
The 1040 Vein will be incorporated into the El Silencio mine plan
through the ramp RP1130N from Level 31 to 38.
The discovery of this new orebody offers the
potential for additional mineral resource growth and extension of
the mine life.
1150 Vein (New Discovery; Attachments 2
and 3)
Exploration and in-fill drilling on the northern
sector of the Manto Vein System, from underground stations ES710N-A
and ES810N-A, installed on Level 25, led to the discovery of
another new high-grade vein called the 1150 Vein,
which occurs in the hanging-wall of the Manto Vein System and is
interpreted as a splay off the Manto Vein. Multiple high gold
grades were intersected from 21 multi-target drill holes (5,228
meters) on the main vein system with maximum intersection grades of
93.19 g/t Au and <0.3 g/t Ag over 0.54 meters
on the 1150 Vein (ES-GM-U59-20).
Manto & 1180 Veins (Attachments 1
and 3)
In-fill exploration drilling on the northern
block of the Manto Vein System, from underground stations ES900N-A,
ES810N-A, ES872N-B and ES615N-A, installed on levels 22, 25
(ES810N-A/ES872N-B) and 26, respectively, was targeted to extend
and better delineate the known ore-shoots on the Manto Vein, which
is the master structure; and the 1180 Vein, which is a footwall
splay off the Manto Vein. Drilling was successful in extending the
Manto Vein’s ore-shoot from Level 25 to 28, and better delineated
the ore-shoot on the 1180 Vein down-plunge. Multiple high gold
grades were intersected from 45 multi-target drill holes (8,047
meters) on the main vein system with maximum intersection grades of
44.49 g/t Au and 98.5 g/t Ag over 0.35 meters on
the Manto Vein (ES-GM-U17-21) and 73.03 g/t Au and 32.0 g/t
Ag over 0.30 meters on the 1180 Vein (ES-GM-U17-21).
High-grade mineralization associated with both ore-shoots remains
open down-plunge and will be targeted by in-fill drilling in
2021.
The table below lists the key intercepts from
the ongoing drilling campaign carried out in 2020-2021 by the
Company’s Mine Geology Department:
Hole |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
Ag (g/t) |
Vein |
EL SILENCIO MINE |
U-G Drilling station ES-NV40-A |
ES-GM-U03-20* |
49.80 |
50.20 |
0.40 |
11.52 |
** |
VEM |
U-G Drilling station ES900N-A |
ES-GM-U09-21* |
133.08 |
133.70 |
0.62 |
12.07 |
14.2 |
1040 |
ES-GM-U12-21* |
106.81 |
107.85 |
1.04 |
40.63 |
60.7 |
VEM |
ES-GM-U17-21* |
90.80 |
91.15 |
0.35 |
44.49 |
98.5 |
VEM |
U-G Drilling station ES710N-A |
ES-GM-U02-21* |
93.59 |
93.95 |
0.36 |
28.02 |
68.5 |
1150 |
ES-GM-U05-21* |
109.44 |
109.80 |
0.36 |
6.57 |
9.6 |
1150 |
U-G Drilling station ES610N-A |
ES-GM-U01-21* |
112.10 |
112.80 |
0.70 |
74.39 |
154.5 |
1040 |
ES-GM-U04-21* |
128.45 |
130.18 |
1.73 |
35.18 |
30.8 |
1040 |
ES-GM-U06-21* |
116.64 |
116.95 |
0.31 |
14.88 |
27.3 |
1040 |
ES-GM-U63-20* |
145.22 |
145.76 |
0.54 |
31.29 |
38.0 |
1040 |
ES-GM-U64-20* |
123.78 |
124.48 |
0.70 |
13.74 |
10.5 |
1040 |
U-G Drilling station ES615-A |
ES-GM-U07-20* |
79.70 |
80.00 |
0.30 |
18.24 |
** |
1180 |
ES-GM-U11-20* |
93.55 |
94.60 |
1.05 |
48.47 |
** |
1180 |
ES-GM-U12-20* |
92.00 |
92.95 |
0.95 |
7.74 |
** |
1180 |
ES-GM-U13-20* |
9.30 |
9.76 |
0.46 |
7.70 |
** |
VEM |
ES-GM-U14-20* |
8.15 |
8.45 |
0.30 |
6.02 |
** |
VEM |
ES-GM-U16-20* |
7.84 |
8.20 |
0.36 |
14.32 |
** |
VEM |
U-G Drilling station ES810N-A |
ES-GM-U36-20* |
103.90 |
104.46 |
0.56 |
44.28 |
** |
1150 |
ES-GM-U37-20* |
86.56 |
86.90 |
0.34 |
18.34 |
8.4 |
VEM |
ES-GM-U37-20* |
195.80 |
196.22 |
0.42 |
10.84 |
5.5 |
1040 |
ES-GM-U44-20* |
190.15 |
191.39 |
1.24 |
18.80 |
25.9 |
1180 |
ES-GM-U49-20* |
96.65 |
97.59 |
0.94 |
7.71 |
30.5 |
1150 |
ES-GM-U49-20* |
197.24 |
197.54 |
0.30 |
73.03 |
32.0 |
1180 |
ES-GM-U51-20* |
68.70 |
69.56 |
0.86 |
6.21 |
8.3 |
1150 |
ES-GM-U51-20* |
163.51 |
164.07 |
0.56 |
137.44 |
10.1 |
1040 |
ES-GM-U51-20* |
179.13 |
179.97 |
0.84 |
12.02 |
29.3 |
SNO |
ES-GM-U59-20* |
61.20 |
61.74 |
0.54 |
93.19 |
<0.3 |
1150 |
U-G Drilling station ES872-B |
ES-GM-U52-20* |
40.03 |
40.33 |
0.30 |
8.37 |
1.9 |
VEM |
ES-GM-U52-20* |
185.52 |
185.90 |
0.38 |
12.22 |
32.2 |
1180 |
U-G Drilling station ES872-A |
ES-GM-U21-20* |
37.00 |
37.40 |
0.40 |
11.95 |
13.4 |
VEM |
* Denotes underground drill holes. Underground
drill holes coded as GM were drilled by the Company’s Mine Geology
Department. The underground infill holes were drilled at -0 to -79
degrees from the horizontal. Sample interval grades over 6.0 g/t Au
are reported. Grades are for quartz vein intersections and are
length-weighted composites. The width 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.
** Silver was not assayed for these drill
holes.
Vein name abbreviations: VEM: Manto Vein. 1180:
1180 Vein. 1150: 1150 Vein . 1040: 1040 Vein. SNO: unknown
vein.
Results from in-mine exploration and infill
drilling are reported for 59 holes (10,229 m) including: 3 holes
(341 m) from station ES-NV40-A, 1 hole (103 m)
from station ES230N, 3 holes (435 m) from station
ES900N-A, 3 holes (600 m) from station
ES710N-A, 8 holes (1,238 m) from station
ES610N-A, 12 holes (918 m) from station
ES615-A, 12 holes (2,682 m) from station
ES810N-A, 13 holes (2,882 m) from station
ES872-A, and 4 holes (1,030 m) from station
ES872N-.B There are no results above cut-off grade
for 35 holes and these holes are not listed in the table above.
Please refer also to the attached illustrative
maps and section showing the El Silencio drilling programs.
Qualified Person
Dr. Stewart D. Redwood, PhD, FIMMM, FGS, 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.
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
The Segovia samples were prepared and assayed by
SGS Laboratories Ltd (ISO 9001:2008) at their laboratory in
Medellin. Gold was assayed by 30 g fire assay with atomic
absorption spectrophotometer (“AAS”) finish. Samples above the
upper detection limit of 10.0 g/t gold were re-assayed by 30 g fire
assay with gravimetric finish. Silver was assayed by aqua regia
digestion and AAS finish. Some of the samples were prepared and
assayed by the Gran Colombia Mine Laboratory at Segovia (not
certified). Gold was assayed by 30 g fire assay with AAS finish.
Samples above the upper detection limit of 10.0 g/t gold were
re-assayed by 30 g fire assay with gravimetric finish. Silver was
not assayed in these samples. Standard, blank and duplicate samples
were routinely inserted and monitored for quality assurance and
quality control.
About Gran Colombia Gold
Corp.
Gran Colombia is a mid-tier gold producer with a
proven track record of mine building and operating in Latin
America. In Colombia, the Company is currently the largest
underground gold and silver producer with several mines in
operation at its high-grade Segovia Operations. In Guyana, the
Company is advancing the Toroparu Project, one of the largest
undeveloped gold projects in the Americas. Gran Colombia also owns
approximately 44% of Aris Gold Corporation (TSX: ARIS) (Colombia –
Marmato), an approximately 27% equity interest in Denarius Silver
Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos; Colombia – Guia
Antigua and Zancudo) and an approximately 26% equity interest in
Western Atlas Resources Inc. (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 anticipated business plans or strategies, including
exploration programs and mineral resources and reserves. 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 31, 2021 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
Attachment 1 – El Silencio mine –
In-fill Drilling Grade Intercepts on Manto and 1180
veinshttps://www.globenewswire.com/NewsRoom/AttachmentNg/d60b06e3-0e1c-4085-8221-b1ccc5d8ae11
Attachment 2 – El Silencio mine –
In-fill Drilling Grade Intercepts on 1150 and 1040
veinshttps://www.globenewswire.com/NewsRoom/AttachmentNg/0bddabe3-5100-4aab-a756-514110441993
Attachment 3 – Cross section of the El
Silencio vein system at northernmost end of the
minehttps://www.globenewswire.com/NewsRoom/AttachmentNg/440c6e7a-98a5-41bb-bad2-d308d8fa93bf
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