Gran Colombia Gold is building the leading Colombia focused gold
The Company is building a strong production growth profile through
exploration, development and bringing to production
gold projects in Colombia.
The Company’s focus is on the development of the Segovia Operations and
Marmato projects to generate strong cash flows in the short,
medium and long term.
To be successful, Gran Colombia Gold must also be a positive agent
of change for the communities where it operates.
The Company can only succeed if the communities are changed in a
positive way and share in that success.
Gran Colombia’s success will drive positive change in the communities;
positive changes in health and safety, wages, pensions, the
environment, economic growth and diversity, education and
The Company’s third focus is Valuation Growth.
The Gran Colombia team believes strongly in the Company’s potential
for great success and seeks to build shareholder value by having a
great plan, executing through hard work & collaboration, and
by achieving targets.
For more information on Gran Colombia Gold (GCM:TSX)
please fill out the form below. https://www.b-tv.com/gran-colombia-gold-commercial-15sec-4/ Gran Colombia Gold Announces New Quarterly Gold Production Record of
60,601 Ounces in First Quarter of 2019;
Segovia Operations’ Trailing 12 Months Gold Production Surpasses
Signs Contract With GoldSpot Discoveries to Use Artificial Intelligence
in Segovia’s Exploration
TORONTO, April 11, 2019 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today that
it produced a total of 21,325 ounces of gold in March bringing the
total for the first quarter of 2019 to 60,601 ounces, a new quarterly
record and up 15% over the first quarter of 2018.
This brings the trailing 12 months’ total gold production at the end of
March 2019 to 225,930 ounces, up 4% over 2018’s annual production and
at the top end of Gran Colombia’s guidance range for 2019 of between
210,000 and 225,000 ounces.
Serafino Iacono, Executive Chairman of Gran Colombia, commenting on
the Company’s latest production results, said,
“We are very pleased to begin 2019 with another strong quarter of
operating performance. At our flagship Segovia Operations, our investment in the expansion of
our mines has increased our daily tonnes processed in the first quarter
of 2019 from the company-operated areas by 11% compared with the annual
average for 2018. The expansion of the Maria Dama plant to 1,500 tpd is on track for
completion in the second quarter this year, so we will have additional
capacity available to handle our expected near term growth.
Our first quarter 2019 gold production has also benefitted from higher
grades at both our Providencia and El Silencio mines, reaffirming our
confidence in the high-grade nature of our mining title as we proceed
to accelerate our exploration campaign for the next two years following
the completion of the bought deal private placement last week.
We were also pleased to see an improvement in the mining rate at the
Marmato mine in March, raising its monthly production by 22% compared
with the average for the first two months of 2019 and getting its
quarterly performance back on track with our expectations for this
We will be reporting our financial results for the first quarter of
2019 on or about May 15, 2019.” The Segovia Operations had another solid month in March with gold
production of 18,970 ounces bringing the total for the first quarter of
2019 to a new quarterly record of 54,386 ounces, up 17% over the first
quarter of 2018. Gran Colombia processed an average of 1,112 tonnes per
day (“tpd”) at its Segovia Operations in the first quarter of 2019,
up 19% from the first quarter last year, with an average head grade of
18.8 g/t, up from 16.1 g/t in the first quarter of 2018. The key driver was a 36% increase in high-grade material from the
company-operated areas at the Providencia mine which contributed 21% of
the total tonnes processed in the first quarter of 2019 at an average
head grade of 34.8 g/t, up from 25.4 g/t in the first quarter last
year. The Company’s mine development and mechanization in the Company-
operated areas of the El Silencio mine have also helped to increase
both the tonnes mined and the average head grades from this mine in
the first quarter of 2019 compared with the first quarter last year.
This brings Segovia’s trailing 12 months’ total gold production at the
end of March 2019 to 200,964 ounces, up 4% over 2018’s annual
At the Marmato Operations, March’s gold production of 2,355 ounces
reflected the impact of some recent development work which increased
tonnes processed to 1,090 tpd at an average head grade of 2.5 g/t. This brings Marmato’s total production for the first quarter of 2019 to
6,215 ounces, on par with the first quarter of 2018, and its trailing
12 months’ total gold production at the end of March 2019 to
24,966 ounces, also on par with 2018’s annual production.
Gran Colombia Engages GoldSpot Discoveries Corp. to Use Artificial
Intelligence in its Forthcoming Exploration Campaign at its Segovia
Gran Colombia also announced today that it has engaged the team of
expert geologists and data scientists at GoldSpot Discoveries Corp.
(“GoldSpot”) (TSXV: SPOT) to use machine learning to identify new
drilling targets at its Segovia Operations to minimize exploration risk
and increase discovery rates.
GoldSpot will use its geoscience and machine science expertise to
clean, unify and analyse Gran Colombia’s exploration data at
Segovia and then produce both 2D and 3D targets for the forthcoming
GoldSpot will also deliver newly constructed lithological and
mineralization models, new geophysical products produced through
the reprocessing of the raw data and new structural interpretations and
Serafino Iacono commented, “Our exploration work at Segovia to-date
has centered on our three core mining operations to build our mineral
resource and reserve statement and to support our mine optimization and
We have come to a point where we can now focus on the vast exploration
potential we see in our Segovia mining title, stepping out from the
existing mine operations and exploring the other 24 known veins in
the mining title.
We are excited to work with GoldSpot to leverage their machine learning
capabilities to increase our potential for success in expanding our
mineral reserves through the accelerated drilling campaign we will be
launching this year with the proceeds from our recently completed
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
Segovia and Marmato Operations.
Gran Colombia is continuing to focus on exploration, expansion and
modernization activities at its high-grade Segovia Operations.
Additional information on Gran Colombia can be found on its website at http://www.grancolombiagold.com
and by reviewing its profile on SEDAR at http://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 ---- the reader is cautioned
not to place undue reliance on forward-looking statements.
For Further Information, Contact:
Chief Financial Officer
Gran Colombia Gold logo.jpg
Source: Gran Colombia Gold
View all Press Releases