Gran Colombia Gold Corp. (TSX: GCM): Currently the Largest Underground Gold and Silver Producer in Colombia, Interview with Mike Davies, CFO By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, US on 6/11/2018
Quote: The debt re-financing has significantly reduced our potential fully diluted common shares from 95M to 62M and added $13 million of cash to our balance sheet.
Gran Colombia Gold Identifies a new Structure at Its El Silencio Mine; Announces Additional High-grade Results from the Ongoing Infill Drilling and Underground Channel Sampling Programs at Its Segovia Operations
" TORONTO, June 18, 2018 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (TSX:GCM) announced today that its 2018 exploration program at its Segovia Operations has identified a new structure at the El Silencio mine, interpreted as a splay off the Manto Vein and termed the 1320 Vein. The Company also provided an update of the assay results from the surface and underground diamond infill drilling program at the Providencia, El Silencio and Sandra K mines. To-date, the Company has completed 64 holes, totaling approximately 7,000 meters, of its planned 20,000 meters to be drilled in 2018. Multiple high-grade results from the ongoing underground sampling program in the deepest levels of the El Silencio mine were also announced today. " "Serafino Iacono, Executive Co-Chairman of Gran Colombia, commented: "The drilling and sampling results announced today continue to affirm our belief in the blue sky potential of our high-grade Segovia Operations to add to our existing mineral reserves and resources. The delineation of a new structure at El Silencio is also very encouraging and we will be following up on this discovery with some further drilling on the 1320 Vein to incorporate it into our future development and production plan."
A total of four drill rigs are currently operating at Segovia with three rigs carrying out resource definition within the underground developments of the Providencia and El Silencio mines and one drill rig operating from surface at Sandra K targeting peripheral extensions to the known vein system. ?In-fill drilling at Providencia was mainly aimed to further delineate one of the main high-grade orebodies on which sparse previous surface drilling had intersected high gold grades. Multiple high gold grades were intersected in 11 drill holes (764 metres) drilled from underground in the ongoing drilling program on the main vein system with maximum grades of 712.48 g/t Au and 821.4 g/t Ag over 0.77 metres. In-fill drilling was also aimed to test the Providencia vein system at the eastern end of the mine, close to the northeast trending shear zone that delimits the mine workings. Only two high-grade intercepts were generated from 19 drill holes (1,571 metres) on the main vein system with maximum grades of 540.03 g/t Au and 383.8 g/t Ag over 0.28 metres.
?In-fill drilling at El Silencio was aimed to test the down-plunge extension of the main ore-shoot located at the northern end of the mine. Multiple high gold grades were generated from 17 drill holes (1,116 metres) drilled from underground in the ongoing drilling program on the main vein system with maximum grades of 18.93 g/t Au and 88.3 g/t Ag over 0.85 metres. A secondary ore-shoot to the south of the main one was also tested and returned two high-grade intercepts with maximum grades of 25.45 g/t Au and 19.1 g/t Ag over 0.31 metres.
?In-fill drilling at Sandra K was aimed to delineate and extend two ore-shoots outlined by surface drilling carried out in early 2017. Multiple high gold grades were generated from 17 drill holes (3,600 metres) drilled from surface in the ongoing drilling program on the main vein system with maximum grades of 20.98 g/t Au and 65.7 g/t Ag over 1.50 metres.
?Underground channel samples were taken from vein exposures within the underground developments at the bottom of the El Silencio mine. A total of 424 channels were sampled, of which 168 channels were collected on the down-plunge extension of the north ore-shoot and 256 channels were collected on the down-plunge extension of the south ore-shoot. The average grade of the 168 channels of the north ore-shoot was 32.46 g/t Au and 42.3 g/t Ag over 1.34 m, with sample grades ranging from trace up to 311.44 g/t Au and up to 152.7 g/t Ag. Of these, 104 channels, or 62% of the total, averaged over 10.0 g/t Au, and 55 channels, representing 33% of the total samples, averaged greater than 30.0 g/t Au. The average grade of the 256 channels from the south ore-shoot was 43.71 g/t Au and 31.2 g/t Ag over 1.52 m, with sample grades ranging from trace up to 330.13 g/t Au and up to 297.5 g/t Ag, with 187 channels, representing 73% of the total, averaging over 10.0 g/t Au, and 108 channels, representing 42% of the total samples, averaging greater than 30.0 g/t Au. "
Gran Colombia Gold Corp. (TSX: GCM): Currently the Largest Underground Gold and Silver Producer in Colombia, Interview with Mike Davies, CFO By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, US on 6/11/2018
Quote: The debt re-financing has significantly reduced our potential fully diluted common shares from 95M to 62M and added $13 million of cash to our balance sheet.
Gran Colombia Gold Identifies a new Structure at Its El Silencio Mine; Announces Additional High-grade Results from the Ongoing Infill Drilling and Underground Channel Sampling Programs at Its Segovia Operations
" TORONTO, June 18, 2018 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (TSX:GCM) announced today that its 2018 exploration program at its Segovia Operations has identified a new structure at the El Silencio mine, interpreted as a splay off the Manto Vein and termed the 1320 Vein. The Company also provided an update of the assay results from the surface and underground diamond infill drilling program at the Providencia, El Silencio and Sandra K mines. To-date, the Company has completed 64 holes, totaling approximately 7,000 meters, of its planned 20,000 meters to be drilled in 2018. Multiple high-grade results from the ongoing underground sampling program in the deepest levels of the El Silencio mine were also announced today. " "Serafino Iacono, Executive Co-Chairman of Gran Colombia, commented: "The drilling and sampling results announced today continue to affirm our belief in the blue sky potential of our high-grade Segovia Operations to add to our existing mineral reserves and resources. The delineation of a new structure at El Silencio is also very encouraging and we will be following up on this discovery with some further drilling on the 1320 Vein to incorporate it into our future development and production plan."
A total of four drill rigs are currently operating at Segovia with three rigs carrying out resource definition within the underground developments of the Providencia and El Silencio mines and one drill rig operating from surface at Sandra K targeting peripheral extensions to the known vein system. ?In-fill drilling at Providencia was mainly aimed to further delineate one of the main high-grade orebodies on which sparse previous surface drilling had intersected high gold grades. Multiple high gold grades were intersected in 11 drill holes (764 metres) drilled from underground in the ongoing drilling program on the main vein system with maximum grades of 712.48 g/t Au and 821.4 g/t Ag over 0.77 metres. In-fill drilling was also aimed to test the Providencia vein system at the eastern end of the mine, close to the northeast trending shear zone that delimits the mine workings. Only two high-grade intercepts were generated from 19 drill holes (1,571 metres) on the main vein system with maximum grades of 540.03 g/t Au and 383.8 g/t Ag over 0.28 metres.
?In-fill drilling at El Silencio was aimed to test the down-plunge extension of the main ore-shoot located at the northern end of the mine. Multiple high gold grades were generated from 17 drill holes (1,116 metres) drilled from underground in the ongoing drilling program on the main vein system with maximum grades of 18.93 g/t Au and 88.3 g/t Ag over 0.85 metres. A secondary ore-shoot to the south of the main one was also tested and returned two high-grade intercepts with maximum grades of 25.45 g/t Au and 19.1 g/t Ag over 0.31 metres.
?In-fill drilling at Sandra K was aimed to delineate and extend two ore-shoots outlined by surface drilling carried out in early 2017. Multiple high gold grades were generated from 17 drill holes (3,600 metres) drilled from surface in the ongoing drilling program on the main vein system with maximum grades of 20.98 g/t Au and 65.7 g/t Ag over 1.50 metres.
?Underground channel samples were taken from vein exposures within the underground developments at the bottom of the El Silencio mine. A total of 424 channels were sampled, of which 168 channels were collected on the down-plunge extension of the north ore-shoot and 256 channels were collected on the down-plunge extension of the south ore-shoot. The average grade of the 168 channels of the north ore-shoot was 32.46 g/t Au and 42.3 g/t Ag over 1.34 m, with sample grades ranging from trace up to 311.44 g/t Au and up to 152.7 g/t Ag. Of these, 104 channels, or 62% of the total, averaged over 10.0 g/t Au, and 55 channels, representing 33% of the total samples, averaged greater than 30.0 g/t Au. The average grade of the 256 channels from the south ore-shoot was 43.71 g/t Au and 31.2 g/t Ag over 1.52 m, with sample grades ranging from trace up to 330.13 g/t Au and up to 297.5 g/t Ag, with 187 channels, representing 73% of the total, averaging over 10.0 g/t Au, and 108 channels, representing 42% of the total samples, averaging greater than 30.0 g/t Au. "
Gran Colombia Gold Corp. (TPRFF) (TSX: GCM) has upped its full-year gold- production guidance to more than 200,000 ounces after reporting second- quarter output of 52,906 ounces, up 15% year-on-year.
For the first half of 2018, production amounted to 105,578 ounces, up 24% year-on-year.
This brings the company’s trailing 12 months of gold production to 194,316 ounces, up 12% from 2017 production of 173,821 ounces.
The company’s initial 2018 guidance was for between 182,000 and 193,000 ounces. “We have now reported three consecutive quarters with over 50,000 ounces of gold production,” says Serafino Iacono, executive co-chairman of Gran Colombia.
“With our local management team doing a very good job focusing on execution of our mine plan at Segovia, we are confident we will produce over 200,000 ounces this year.”
Gran Colombia Gold Completes Acquisition of Approximately 15% Interest in Sandspring Resources Ltd. July 26, 2018
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