Gran Colombia drills high-grade gold at Segovia

Gran Colombia Gold Corp. [GCM:TSX] has released the final assay results from 115 diamond drill holes (10,783 metres) included in the 2019 underground infill drilling program at its high-grade Segovia operations in Colombia nd also the assay results from nine kickoff holes (2,527 metres) in the continuing directional drilling program in the deep zone at the El Silencio Mine.

Serafino Iacono, executive chairman of Gran Colombia, said: “We are excited to see a continuation of the high-grade gold and silver intercepts in the assay results from our ongoing drilling campaign at the Segovia operations in the first half of 2019. Infill drilling at each of our three core producing mines increases our confidence in the potential to add new mineral reserves and extend mine life at our flagship mining operation. The deep zone drilling at El Silencio has generated some very encouraging high-grade results so far and we expect to complete the first phase of this drilling program by the end of this year. Our work to identify and prioritize step-out and brownfield drilling targets at Segovia, aided by the application of machine learning by the geologists and data scientists at GoldSpot Discoveries Corp., is progressing well and we expect to further expand our drilling campaign, over and above what is already planned, later in the second half of this year.”

Key highlights and intercepts at Segovia since the company’s February 25, 2019, press release are as follows:

Infill drilling at Providencia continued to test the Providencia vein system to the west of the current mine development. Multiple high gold grades were intersected from 56 holes (5,324 metres) drilled from underground stations on the main vein system with maximum grades of 46.72 g/t gold and 16.9 g/t silver over 0.48 metres on the Providencia vein (PV-IU-201).

Drilling was successful in extending and better delineating a second high-grade zone outlined by past drilling located farther to the west of the high-grade orebody that is currently in production, with maximum grades of 27.35 g/t gold and 12.1 g/t silver over 0.54 metres (PV-IU-200) on the Providencia vein.

Both zones offer the potential for another phase of resource growth and the high-grade gold-mineralized intercepts associated with these two new zones confirm the higher-grade mineralization at depth, which could have a positive impact, increasing both production and mine life. Gran Colombia is planning to complete another approximately 3,400 metres of infill drilling by the end of 2019 to ensure that the 2019 production will be replaced and to add new mineral reserves to the existing ones.

Infill drilling at Sandra K continued to delineate and further extend down-plunge the main ore shoot outlined by mining within the upper levels of the existing operation and past drilling, located approximately 300 metres to the north of the main decline. This orebody remains open at depth and offers the potential for additional resource growth.

Multiple high-gold grades were intersected from 32 holes (3,111 metres) drilled from underground on the main vein system with maximum grades of 238.96 g/t gold with 377.4 g/t silver over 0.65 metres on the Sandra K Techo vein (SK-IU-084), and 135.55 g/t gold with 519.0 g/t silver over 0.49 metres on the 6640 vein (SK-IU-076). This high-grade vein occurs about 15 metres above the Sandra K Techo vein and has been intercepted for over 150 metres along strike. Gran Colombia is planning another approximate 4,000 metres of infill drilling to be completed by the end of 2019 to extend down plunge the ore shoots located to the north of the main one.

Infill drilling at El Silencio completed a first phase of testing on the 1040 vein, which is a splay off the Manto vein, and also tested a portion of the mine where the Manto and Piso veins merge into a main structure.

Multiple high-gold grades were intersected from 27 holes (2,348 metres) drilled from underground stations on the main vein system with maximum grades of 64.87 g/t gold and 60.2 g/t silver over 0.80 metres on the Manto vein (ES-IU-065), 20.00 g/t gold and 32.7 g/t silver over 0.91 metres on the Piso vein (ES-IU-061), and 39.22 g/t gold and 23.5 g/t silver over 0.31 metres on the 1040 vein (ES-IU-063).

Infill drilling on the 1040 vein was successful in extending the continuity of the structure downdip, and in outlining a mining stope on the Manto and Piso veins that could have a positive impact on the short-term mine plan.

The continuing directional drilling program on the deep zone at El Silencio has been successful in extending the north and the middle ore shoots down-plunge by approximately 150 metres and 100 metres, respectively, below the currently delineated mineral resource.

Drilling has intercepted narrow veins containing high-grade gold with maximum grades including: 47.62 g/t gold and 81.5 g/t silver over 0.30 metres on the Manto vein in the north ore shoot (ES-MH01-03), and 13.60 g/t gold and 11.4 g/t silver over 0.82 metres on the Manto vein in the middle ore shoot (ES-MH02A-01-A).

There are still about 4,400 metres remaining to be drilled from the planned program which is scheduled to be completed by the end of the year.

Gran Colombia has five diamond drill rigs operating at Segovia, with three rigs carrying out resource definition within the underground developments of the Providencia, Sandra K and El Silencio mines, and two drill rigs operating at Campo Alegre targeting the down-plunge extension of the north and central ore shoots of the El Silencio Mine, one from surface and one from underground.

Gran Colombia is the largest underground gold and silver producer in Colombia with several mines in operation at its Segovia and Marmato operations.