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Gran Colombia Gold Corp.
Summary
| Project: | Marmato | |
|---|---|---|
| Deposit: | Marmato | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 10/4/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-10-2018: Gran Colombia Gold Corp. announces an Exploration/Drilling Update report for its Marmato deposit at the Marmato project. Drilling results incl. 232.15m @ 1.52g/t Au, 4.2g/t Ag from 122.85m. TORONTO, CANADA, Thursday, October 4, 2018 – Gran Colo | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stewart D. Redwood (Internal) | |
| ABSTRACT: | TORONTO, CANADA, Thursday, October 4, 2018 – Gran Colombia Gold Corp. (TSX: GCM) announced today an update from the initial drill results from the 2018 drilling campaign at its Marmato Project. The drilling campaign is being undertaken to obtain additional information in conjunction with the technical studies and evaluations focused on the potential underground expansion of mining operations at Marmato to incorporate the Deeps Mineralization below the existing mining operation. Serafino Iacono, Executive Co-Chairman of Gran Colombia Gold, commented, “The early results from the 2018 drilling campaign have outlined two new zones of Deeps-style mineralization and continue to increase our confidence in the geological model with the potential to significantly increase our mineral resources and expected mine life at the Marmato Project". At Marmato, the Company has had two diamond drill rigs in operation since late June 2018. To date, the Company has completed nine holes, totaling approximately 2,900 meters, representing 34% of its planned 8,500 meters to be drilled in 2018. Underground drilling at Marmato is intended only as “infill” for the upper part of the Deeps Zone (the “Transitional Zone”), approximately 150 vertical meters below Level 21, the deepest level of the existing Mineros Nacionales operating mine. This drilling is aimed to convert the Inferred mineral resources estimated in 2017 to Indicated mineral resources, and to expand the size and confirm the continuity of the high-grade core zone outlined by previous drilling within the Leapfrog geological model at 1 g/t Au. The 2018 campaign also includes 4,000 meters of drilling to increase confidence and definition in the down-dip extension of the above-mentioned high-grade core zone within a block 100 meters high below the Transitional Zone. | |
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