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Gran Colombia Gold Corp.
Summary
| Project: | Marmato | |
|---|---|---|
| Deposit: | Marmato | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 12/13/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-12-2018: Gran Colombia Gold Corp. announces an Exploration/Drilling Update report for its Marmato deposit at the Marmato project. Drilling results incl. 160.28m @ 2.57g/t Au, 4.0g/t Ag from 238.10m. TORONTO, Dec. 14, 2018 -- Gran Colombia Gold Corp. (T | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stewart D. Redwood (Independent) | |
| ABSTRACT: | TORONTO, Dec. 14, 2018 -- Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced additional high-grade intercepts today from a further nine holes drilled in the Deeps Zone at its 100%-owned Marmato Project in Caldas, Colombia. The 2018 infill drilling campaign is being undertaken to obtain additional information in conjunction with the technical studies and evaluations focused on the potential expansion of the underground mining operations at Marmato to incorporate the Deeps Zone below the existing mining operation. Serafino Iacono, Executive Co-Chairman of Gran Colombia, commented, “We continue to be very encouraged by the highgrade intercepts we are seeing in our 2018 drilling program. Our drilling campaign has increased our confidence in the geological model, outlining a higher-grade zone with excellent continuity over 450 meters along strike and strong vertical continuity for more than 300 meters below the deepest level of our existing mining operation. Coupled with the technical studies we have been carrying out this year, we have established a foundation for additional work to be undertaken next year as we proceed toward the preparation of a preliminary economic assessment (“PEA”) for the underground expansion at Marmato. Included in next year’s exploration budget is a further 15 holes representing 8,000 meters of drilling intended to extend the Deeps Zone further along strike, to test the high-grade core of the Deeps Zone up to 600 m asl and to upgrade a portion of the Marmato Project’s mineral resources from inferred to indicated ahead of preparing the life of mine plan for the PEA". The Company has had two diamond drill rigs in operation underground at Marmato since June 2018. Through the end of November, the Company has completed twenty drill holes totaling approximately 7,200 meters, representing 85% of the planned 8,500 meters to be drilled in 2018. The 2018 infill drilling program has been completed in the upper part of the Deeps Zone, referred to as the “Transitional Zone”, representing a 150 m high block below Level 21, currently the deepest level of the operating Mineros Nacionales mine. Infill drilling within a 150 meters high block below the Transitional Zone is still in progress. | |
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