Results released Wednesday June 9 are from 62 drill holes, covering 13,056 metres from the 2021 in-mine and near-mine drilling programs and a further 11 holes , covering 3,190 metres from brownfield drilling at Segovia.
The company also announced assay results from four additional kick-off drill holes, covering 2,319 metres, from an ongoing directional drilling program at the El Silencio Deep Zone.
Having been in production for over a century, Gran Colombia’s Segovia Operations rank among the world’s highest grade gold mines and are on track to produce to produce up to 220,000 ounces of gold this year. In 2020, the average head grade at Segovia was 14.5 g/t gold.
The Segovia Operations are one of Gran Colombia’s two cornerstone assets; the second being the Toroparu gold project in Guyana.
The Segovia Operations are located in the Segovia-Remedios mining district in Antioquia, roughly 180 km east of Medellin. They include the El Silencio, Providencia and Sandra K underground mines in the Municipality of Segovia, and the Carla underground mine in the Municipality of Remedios. Carla is approximately 10 km southeast of the Segovia mines.
Executive Chairman Serafino Iacono said production at Segovia can be increased to 250,000-275,000 ounces annually. With that goal in mind, the company is working to increase the throughput rate to 2,000 tonnes/day from 1,500 tpd. It will also spend US$14 million this year to probe near mine and high priority brownfield targets.
The ongoing 2021 in-mine and near-mine infill and step-out drilling campaigns started in early January with four diamond drill rigs operating from underground drill stations. A program of 40,000 metres is planned, representing 67% of the total drilling program for this year.
Highlights from in-mine drilling include 211.68 g/t gold and 253.6 g/t silver over 0.33 metres on the Providencia vein. Drill crews also hit 147.91 g/t gold and 194.8 g/t silver over 0.74 metres on the Sandra K Techo Hanging Wall Vein.
Drilling at El Silencio returned 37.16 g/t gold and 52.5 g/t silver over 0.55 metres on the 450 Vein.
Highlights from brownfield drilling include 15.39 g/t gold and 3,496.1 g/t silver over 0.70 metres on the Lluvias Vein, and 123.65 g/t gold and 172.60 g/t silver over 0.93 metres on the Marmajito vein.
“The Sandra K and El Silencio results continue to impress both in terms of grades and widths and will undoubtedly lead to an important resource growth coupled with greater flexibility in mining,” Iacono said in a press release. Gran Colombia has seven diamond drill rigs in operation at Segovia.
On Wednesday Gran Colombia shares eased 0.58% or $0.03 to $5.12 on volume of 232,860. The shares are trading in a 52-week range of $8.40 and $4.95.