BILL MURPHY > $666 Silver & $10,000 Gold Prices by Year-End, Here's Why https://www.youtube.com/watch?v=R3jtlddmWqE Gran Colombia Gold Provides August 2019 Production Update; Remains on Track with 2019 Guidance
T.GCM | 7 hours ago
TORONTO, Sept. 12, 2019 (GLOBE NEWSWIRE) --
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today
that it produced a total of 18,710 ounces of gold in August
bringing the total for the first eight months of 2019 to
155,359 ounces, up 8% over the first eight months of 2018.
Gran Colombia’s trailing 12 months’ total gold production at the end of
August 2019 of 229,739 ounces is up 5% over 2018’s annual production.
The Company continues to expect that its annual gold production for 2019
will range between 225,000 and 240,000 ounces.
Lombardo Paredes, Chief Executive Officer of Gran Colombia,
commenting on the Company’s latest production results, said,
“We remain on track to meet our increased production guidance for 2019.
In August, we successfully ran the Maria Dama plant at Segovia using its
expanded capacity and our development programs have opened up new
areas within our company mines to maintain the increased processing
We are also making steady progress on our evaluation of the mine
expansion opportunity at our Marmato Project and expect to file the
preliminary economic assessment before the end of the year.”
The Company’s Segovia Operations produced 16,739 ounces of gold in
August bringing the total for the first eight months of 2019 to
138,850 ounces, up 9% over the first eight months of 2018.
Utilizing its expanded mill capacity at Segovia, Gran Colombia processed
an average of 1,371 tonnes per day (“tpd”) in August, up from an
average in 2019 of 1,144 tpd through the end of July, with an average
head grade of 13.7 g/t.
The expansion of the mill capacity to 1,500 tpd was completed in July
and the filter press is now operating at the El Chocho tailings storage
The Company initially used lower grade stockpile material to feed the
expanded plant while it continued to prepare additional areas in
its mines to feed the plant going forward.
The Company expects that with these new areas now in operation,
Segovia’s head grades will average between
14 and 15 g/t over the balance of the year.
Segovia’s trailing 12 months’ total gold production at the end of
August 2019 stood at 204,799 ounces, up 6% over 2018’s annual production.
The Company continues to expect that its annual gold production at its
Segovia Operations for 2019 will range between
201,000 and 214,000 ounces.
At the Marmato Operations, August’s gold production of
1,971 ounces brings total production for the first eight months of 2019 to
16,509 ounces, on par with the first eight months of 2018.
Marmato’s trailing 12 months’ total gold production at the end of
August 2019 totaled 24,940 ounces, on par with 2018’s annual production
and within the Company’s annual guidance range for 2019 of between
24,000 and 26,000 ounces of gold.
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 www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", which may
include, --- the reader is cautioned not to place undue reliance on
For Further Information, Contact:
Chief Financial Officer
GCM / TPRFF Gran Colombia Gold Corp. has long hike or to FLY back UP
to were we was @ before Chaves communist robbed us but we GOING BACK UP ^
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