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Gran Colombia Gold Corp.
Summary
| Project: | Marmato | |
|---|---|---|
| Deposit: | Marmato | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 4/25/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-4-2019: Gran Colombia Gold Corp. announces an Exploration/Drilling Update report for its Marmato deposit at the Marmato project. Drilling results incl. 459.10m @ 1.56g/t Au, 1.8g/t Ag from 242.10m. TORONTO, April 25, 2019 -- Gran Colombia Gold Corp. (T | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stewart D. Redwood (Independent) | |
| ABSTRACT: | TORONTO, April 25, 2019 -- Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today that it has identified additional high-grade intercepts over broad widths in the final eight holes of the infill drilling program started in 2018 (the “2018 drilling campaign”) on the Deeps Zone at its 100%-owned Marmato Project in Caldas, Colombia. The 2018 drilling campaign was undertaken to obtain additional information in conjunction with the ongoing 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, including the conversion of Inferred Resources to Indicated Resources. Serafino Iacono, Executive Chairman of Gran Colombia, commented, “Our 2018 drilling campaign has increased our confidence in the geological model, extending the Deeps Zone to over 700 meters along strike, with an average width of approximately 165 meters and remaining open at depth and to the east. Results from the 2018 drilling campaign have also led to the discovery of a higher-grade zone that shows a grade constantly above 2.5 g/t Au which we will drill further in 2019 as the primary target zone for expansion of underground mining operations in the preliminary economic assessment technical study (“PEA”) to be completed later this year. A separate underground drilling program undertaken in the latter part of 2018 within the existing mining operation at Marmato has tested a block within the higher-grade zone that will be developed and placed into production later this year. All in all, we remain very encouraged by the progress we are making in the evaluation of the underground mining expansion opportunity at our Marmato Project." The 2018 drilling campaign, which commenced in June 2018 with two diamond drill rigs operating from underground at Marmato, was completed in the middle of March 2019. In all, the 2018 drilling campaign comprised 24 drill holes totaling approximately 9,460 meters. The 2018 drilling campaign tested a block 400 meters high by 700 meters long below Level 21, currently the deepest level of the producing mine at Marmato. The 2019 infill drilling campaign, totaling 8,000 meters, started in March 2019 within the same block and has been designed to further delineate and extend down plunge the higher-grade zone outlined by the 2018 drilling campaign. It also aims to convert the remaining Inferred Resources within the higher-grade block drilled in the 2018 drilling campaign to Indicated Resources. The results from both the 2018 and 2019 drilling campaigns will be used to refine the current deposit model in conjunction with an updated Mineral Resource estimate to be included in the PEA. | |
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