Gran Colombia Gold Announces High-Grade Drill Results

Gran Colombia Gold Announces High-Grade Drill Results
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TORONTO – Gran Colombia Gold Corp. (TSX: GCM, OTCQX: TPRFF) announced today high-grade intercepts from the latest 71 diamond drill holes, totaling 10,634 meters, from the 2020 in-mine and near-mine drilling programs at its Segovia Operations. The Company also announced the assay results from five additional kick-off diamond drill holes from the ongoing directional drilling program at the El Silencio Deep Zone, which led to the discovery of a new high-grade vein named the 450 Vein located in the hanging-wall of the Nacional Vein.

Serafino Iacono, Executive Chairman of Gran Colombia, commented, “Our Segovia Operations were recently acknowledged again as one of the top five highest-grade underground gold operations globally. Our 2020 drilling program in Segovia is continuing to provide us with outstanding results, providing further confirmation that the Segovia Operations are a world-class gold system. With the discovery of a third high-grade vein at depth in the El Silencio Mine, we remain confident that we will be able to expand mineral resources and add to the mine life for this operation. At Providencia, drilling has led to the discovery of a new orebody at Level 14 which is now being developed and remains open at depth. Drilling at the northernmost end of the Sandra K mine showed that the mineralization is still open along strike and at depth. At Carla, our fourth mine which recently started production, drilling intercepted additional high-grade mineralization well below the existing underground mine development. These new discoveries continue to confirm that our mines currently in production remain under-explored and have the potential to be larger than what we understand today. In addition, we commenced our regional drilling campaign in October focused on the other 24 known veins we are not currently mining. 2021 is shaping up as an exciting year for our ongoing exploration programs at our Segovia Operations.”

The planned 2020 in-mine and near-mine infill drilling campaigns commenced in early January with six diamond drill rigs operating from purpose-built underground and surface drill stations and comprises a total of 159 drill holes totaling approximately 31,400 meters, or about 70% of the total drilling program for this year. The execution of the planned drilling programs was somewhat hampered by the restrictions resulting from the COVID-19 pandemic that resulted in logistical difficulties and schedule disruptions earlier in the year. However, approximately 80% of the total in-mine and near-mine infill drilling program for 2020 was completed by the end of October and the remaining 20%, distributed amongst the three main mines, will be completed by early 2021.

The other 30% of the planned drilling campaign for 2020 is focused on the regional exploration targets encompassing the 24 veins within the Segovia mining title that are not currently in production. As a result of COVID-19 limitations to access these areas, this portion of the program only commenced in-mid October and the Company expects to complete approximately 15% of its original plan for these targets in 2020. The regional program will continue in 2021.

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