Gran Colombia drills 0.51 metres of 162.7 g/t gold at Segovia, shares up

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Gran Colombia Gold Corp. [GCM-TSX; TPRFF-OTCQX] reported high-grade intercepts from the latest 71 diamond drill holes, totalling 10,634 metres, from the 2020 in-mine and near-mine drilling programs at its 100%-owned Segovia operations 130 km northeast of Medellin, Colombia.

The company released the assay results from five additional kick-off diamond drill holes (2,208 metres) from the continuing directional drilling program at the El Silencio Deep Zone, which led to the discovery of a new high-grade vein named the 450 vein located in the hangingwall of the Nacional vein.

Significant high-grade intercepts from the latest drill results include:

Providencia Vein: 51.22 g/t gold and 1.9 g/t silver over 1.91 metres (PV-IU-276). Sandra K Techno Vein: 63.92 g/t Au and 458.4 g/t Ag over 0.63 metres (SK-IU-158). El Silencio: 162.70 g/t Au and 77.0 g/t Ag over 0.51 metre on the 450 vein (ES-MH07-05). El Silencio: 87.40 g/t Au and 13.4 g/t Ag over 0.56 metre on the Manto vein (ES-MH07-04). Carla: 100.30 g/t Au and 59.3 g/t Ag over 1.26 metres on the Gran Colombia vein HW1 (CA-ES-019).

Serafino Iacono, executive chairman, said: “Our Segovia operations were recently acknowledged again as one of the top five highest-grade underground gold operations globally. Our 2020 drilling program in Segovia is continuing to provide us with outstanding results, providing further confirmation that the Segovia operations are a world-class gold system.

“With the discovery of a third high-grade vein at depth in the El Silencio mine, we remain confident that we will be able to expand mineral resources and add to the mine life for this operation. At Providencia, drilling has led to the discovery of a new orebody at level 14, which is now being developed and remains open at depth. Drilling at the northernmost end of the Sandra K mine showed that the mineralization is still open along strike and at depth.

“At Carla, our fourth mine which recently started production, drilling intercepted additional high-grade mineralization well below the existing underground mine development. In addition, we commenced our regional drilling campaign in October focused on the other 24 known veins we are not currently mining.”

In December 21 trading, shares gained $0.28 to $7.17 on a volume of 450,400.


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