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Gran Colombia Gold Corp.
Summary
| Project: | Zancudo | |
|---|---|---|
| Deposit: | Zancudo | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 10/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 9-10-2018: Gran Colombia Gold Corp. announces an Exploration/Drilling Update report for its Zancudo deposit at the Zancudo project. JV - Drilling results incl. 4.44m @ 4.47g/t Au, 172.6g/t Ag from 153.10m. TORONTO, CANADA, Tuesday, October 9, 2018 – Gran | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stewart D. Redwood (Internal) | |
| ABSTRACT: | TORONTO, CANADA, Tuesday, October 9, 2018 – Gran Colombia Gold Corp. (TSX: GCM, OTCQX: TPRFF) provided an update today regarding the ongoing diamond drilling program on the Zancudo Project, Colombia (the “Project”). Exploration and drilling on the Project is being carried out by IAMGOLD Corporation (“IAMGOLD”) under an option agreement (the “Option Agreement”) for the exploration and potential purchase of an interest in the Project as announced on March 16, 2017. Serafino Iacono, Executive Co-Chairman of Gran Colombia Gold, commented, "IAMGOLD appears to be getting results thus far that are consistent with our earlier exploration work on the Project. We are pleased with their approach in the drilling to-date and encouraged by the identification of a new manto structure in the North Zone and a potential ore shoot on both the Manto Antiguo and Manto Inferior structures in the South Zone, all of which merit further evaluation. IAMGOLD has approximately 2,000 meters of drilling to complete for the remainder this year to confirm the continuity of the new manto structure in the North Zone." The Project, located in the Titiribí mining district of Antioquia, Colombia, comprises a historical gold mine (the Independencia Mine) set in the Middle Cauca Gold Belt, with an estimated total historical production of 1.5 Mozs to 2.0 Mozs of gold equivalent with recovered grades of 14.6 g/t Au and 108 g/t Ag. The Independencia Mine mined an epithermal intermediate sulphidation type vein system that was exploited over 3.5 kilometers strike length and known depths of approximately 300 meters. Gran Colombia acquired the Project in 2010 and completed a total of 14,000 meters of drilling in 2011 and 2012 focused on defining new potential resources by testing the strike and shallow dip extensions of the northerly-trending Santa Catalina fault structure and a number of east-west trending stacked veins, or “mantos”, that merge into this master structure, to the south of the historical Independencia Mine. Gran Colombia halted further exploration work on this property following the gold price collapse in 2013 to focus on the modernization project at its Segovia Operations. In March 2017, Gran Colombia announced it had signed an Option Agreement with IAMGOLD. | |
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