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Gran Colombia Gold Corp.
Summary
| Project: | Marmato | |
|---|---|---|
| Deposit: | Marmato Deeps | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 2/3/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-2-2020: Gran Colombia Gold Corp. announces an Exploration/Drilling Update report for its Marmato Deeps deposit at the Marmato project. Drilling results incl. 469.50m @ 2.29g/t Au, 3.2g/t Ag from 226.75m. TORONTO, Feb. 03, 2020 -- Gran Colombia Gold Corp | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stewart D. Redwood (Internal) | |
| ABSTRACT: | TORONTO, Feb. 03, 2020 -- Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today additional higher-grade gold intercepts over broad widths from the final eight diamond drill holes (3,744 meters) drilled in the Marmato Deeps Zone (“MDZ”) completing the 2019 Phase 2 infill drilling program (the “2019 drilling campaign”) at its Marmato Project in Caldas, Colombia. The 2019 drilling campaign was split into two phases, of which the results of the Phase 1 drilling campaign were included in the updated Mineral Resource estimate with an effective date of July 31, 2019 and the preliminary economic assessment (“PEA”) for Marmato, both of which were included in a technical report filed on SEDAR on November 28, 2019. The subsequent Phase 2 infill drilling, above the 600 meter level, was designed to provide enough tonnes and grade in the Measured and Indicated mineral resource categories within the Main Zone (“MZ”) to support the prefeasibility study (“PFS”) which is currently being carried out and is expected to be finalized by mid-2020. High-grade mineralization was also encountered in a new zone (“NZ”) in the footwall of the MDZ in hole MT-IU-050 and is anticipated to be accretive to overall global resource growth as this mineralization lies either outside the boundary of the current mineral resource estimate block model for the MZ or in areas that were previously estimated to be below the cut-off grade due to lack of information. Serafino Iacono, Executive Chairman of Gran Colombia, commented, “Our 2019 Phase 2 drilling campaign has generated additional exciting results which have further increased our confidence in the geological model and continues to demonstrate an improvement of grades in the MZ below the 900 meter level versus the mineral resource block model associated with the PEA. In addition, the discovery of a potential new high-grade zone opens a new scenario for potential resource growth. 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." | |
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