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Gran Colombia Gold Corp.
Summary
| Project: | Segovia | |
|---|---|---|
| Deposit: | Segovia | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 3/27/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 27-3-2018: Gran Colombia Gold Corp. announces a Resource Estimation report for its Segovia deposit at the Segovia project. Initial Reserve estimate for Segovia. TORONTO, March 27, 2018 -- Gran Colombia Gold Corp. (TSX:GCM) announced today the release of i | |
| Resources: | (Reserve, Prob.): 1.66Mt @ 12.4g/t Au at Segovia | |
| CP/QP: | [Resources]: Ben Parsons (SRK Consulting (U.S.), Inc.) | |
| ABSTRACT: | TORONTO, March 27, 2018 -- Gran Colombia Gold Corp. (TSX:GCM) announced today the release of its audited consolidated financial statements and accompanying management’s discussion and analysis (MD&A) for the year ended December 31, 2017. At the Segovia Operations, gold production of 45,588 ounces in the fourth quarter of 2017 represented a 31% increase over the fourth quarter last year. This brings the total gold production from the Segovia Operations for 2017 to 148,659 ounces, up 18% over 2016 and above its guidance for the year. Production from the Company’s mines (El Silencio, Providencia and Sandra K), representing 95% of total production from the Segovia Operations in the fourth quarter of 2017, amounted to 43,484 ounces, up 36% over the fourth quarter of 2016. This increase is largely attributable to improved head grades in the Company-operated areas at the Providencia mine and to additional high-grade material from the contract miners in both the El Silencio and Providencia mines. For the full year, 2017’s gold production from the Company mines increased to 137,339 ounces, up 20% over 2016, benefitting primarily from the Company’s capital investment through development and infrastructure spending to access the higher grade mineral resources in the Company-operated areas at the Providencia mine. Production from the other small contract mines operating within the Company’s RPP-140 mining title at Segovia amounted to 11,320 ounces for the full year in 2017, almost on par with the previous year. The Company expects that gold production from the Segovia Operations in 2018 will range between 158,000 and 167,000 ounces driven by the continued development of the Company-operated areas within its mines and additional high-grade material sourced from the contract miners at Providencia and El Silencio. | |
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