Gran Colombia GOLD Announces High Grade Drill Results from Its 2016 Infill Drilling Campaigns at the Segovia and Marmato Operations
NEWS RELEASE
GRAN COLOMBIA GOLD ANNOUNCES HIGH GRADE DRILL RESULTS FROM ITS 2016 INFILL
DRILLING CAMPAIGNS AT THE SEGOVIA AND MARMATO OPERATIONS
TORONTO, CANADA, Monday, March 13, 2017 – Gran Colombia Gol d Corp. (TSX: GCM) announced
today the results of its recently completed 2016 diamond infill drilling program at the Segovia Operations.
The Company also completed a small underground infill drilling program in 2016 to explore the extension
of the mineralization in the Marmato Underground mine.
Infill drilling at Segovia was aimed to increase confidence levels of the mineral resources at both the
Providencia and Sandra K mines and was carried out in areas where sparse previous surface drilling had
intersected high gold grades. High gold grades ge nerated from 74 drill holes (9,472 metres) were
intersected on both vein systems with maximum grades of 134.6 g/t Au and 95.4 g/t Ag over 0.73 metres
on the Providencia Vein, and 43.2 g/t Au with 37.5 g/t Ag over 2.05 metres on the Sandra K Techo Vein,
part of the Sandra K vein system.
At Marmato, one of the holes in a small underground drilling campaign, MND -11-16, intersected 8.98 m at
20.99 g/t Au and 7.11 g/t Ag from 112.32 m to 121.30 m depth followed by 50.40 m at 2.20 g/t Au and
3.32 g/t from 121.30 m to the end of the hole at 171.70 m.
Serafino Iacono, Executive Co-Chairman of Gran Colombia Gold, commented : "We are pleased to report
that the results for the latest Providencia exploration infill drilling campaign are significant for two reasons.
First, infill drilling confirms the high -grade mineralized extension of the main ore body to the west of
current production levels , and second, this drilling confirms the presence of another high -grade ore body
at the east end of Level 12, which could increase Providencia’s overall underground mine production in
the medium term. Furthermore, we are pleased to report that the newly confirmed deep mineralization at
Marmato is closer to the current mine workings and opens the potential for a completely dif ferent mining
scenario which the Company will carefully assess."
Segovia Drilling Highlights and Key Intercepts
Drilling results from the Providencia Mine confirmed the widening of the high -grade ore shoot to the west
of Level 13, currently one of the deepest levels. This ore shoot remains open at depth and we believe it
offers the potential for another significant phase of resource growth at our flagship mine in Segovia.
Additional drilling allowed the Company to better define a second high -grade ore s hoot previously
discovered underground at the east end of Level 12 of the Providencia Mine.
The high-grade gold mineralized intercepts related to the main ore shoot confirm the higher grade
mineralization at depth, and could potentially increase mining production at Providencia.
Drilling results from surface drilling at the Sandra K Mine confirmed the extension and grade of the two
main ore shoots down plunge.
The Providencia and Sandra K drill programs continue to increase the confidence in the geological model
of both ore bodies through increased drill density.
Drilling focused on providing increased definition and confidence in the near -term mine operation within
the Indicated Mineral Resources, and include the following key intercepts:
Hole From (m) To (m) Width (m) Vein Au (g/t) Ag (g/t)
Providencia Mine
PV-IU-002-A* 12.00 12.30 0.30 Providencia 31.80 26.1
PV-IU-012* 56.36 62.37 6.01 Providencia 43.32 30.6
including 58.82 60.82 2.0 126.99 90.6
PV-IU-021* 69.74 71.70 1.96 Providencia 50.26 28.4
including 70.24 70.99 0.75 129.36 71.2
PV-IU-022* 64.00 64.75 0.75 Providencia 15.57 15.1
PV-IU-023* 48.00 52.39 4.39 Providencia 20.24 11.7
including 49.29 50.97 1.68 42.73 20.4
PV-IU-025-A* 64.67 65.39 0.72 Providencia 13.13 15.6
PV-IU-040-A* 20.75 21.48 0.73 Providencia 134.55 95.4
and 23.51 25.83 2.32 Providencia FW 13.21 9.6
PV-IU-050* 40.31 41.01 0.70 Providencia 18.94 35.1
Sandra K Mine
SK-IS-001 242.67 244.72 2.05 Sandra K Techo 43.16 37.5
including 243.50 244.16 0.66 132.88 108.8
SK-IS-002 147.76 148.54 0.78 Sandra K Techo 14.72 40.6
SK-IS-003 255.30 255.64 0.34 Sandra K Techo 8.41 12.8
SK-IS-012 230.56 232.00 1.44 Sandra K Techo 9.24 68.7
including 231.34 232.00 0.66 20.14 149.1
SK-IS-023 159.20 159.72 0.52 Sandra K Techo 10.47 51.2
SK-IS-025 173.10 173.50 0.40 Sandra K Techo 16.70 33.1
* Denotes underground drill holes. The underground holes were drilled at –25 to -75 degrees from the horizontal, and the
intersection lengths do not represent true widths. Sample grades over 8.0 g/t Au reported. Grades are for quartz vein
intersections a nd are either single samples, or , for longer widths, are length-weighted composites. The length is the
sample length and is not necessarily the true width of the vein. All gold and silver grades are uncut and are not diluted to a
minimum mining width. Abbreviations: FW = foot wall vein.
Please refer also to the attached illustrative maps related to the Providencia and Sandra K drilling
programs.
An updated mineral resource estimate for the Segovia Operations incorporating the new drill results is
currently being prepared by SRK Consulting and is expected to be available by the end of March.
Marmato Drilling Highlights
A small underground drill ing campaign was carried out at Marmato to explore the extension of the vein
mineralization between Level 21, the deepest level of the mine, down to Level 24. One of these holes ,
MND-11-16, intersected 8.98 m at 20.99 g/t Au and 7.11 g/t Ag from 112.32 m to 121.30 m depth,
followed by 50.40 m at 2.20 g/t Au and 3.32 g/t from 121.30 m to the end of the hole at 171.70 m . The
mineralization in both intersections related to narrow veinlets, with a higher veinlet density in the higher
grade zone, and resembles the style of mineralization that was intersected in previous drill holes that
characterize the deep body (refer to the Company’s press release dated October 10, 2012).
Drilling results from this drill hole are interpreted to form the top of the deep zone of veinlet-hosted
mineralization, which begins about 100 metres down below the current mine workings, forming a deep
body that could be suitable for underground bulk mining.
The strike extent of this deep body is approximately 800 metres, while the vertical extent is approximately
850 metres, with a width not less than 100 meters. This body is still open along strike and at depth.
The deep gold mineralization is related to narrow veinlets of quartz -pyrrhotite with minor amounts of pyrite
and chalcopyrite and a narrow halo of intermediate argillic alteration. These change upwards to pyrite
veinlets with pervasive intermediate argillic alteration. They overprint earlier potassic alteration with
porphyry-style quartz veinlets, and propylitic alteration. The porphyry style alteration and veining does not
carry significant mineralization. The copper values are very low and are not of economic interest.
The Marmato Deep Zone mineralization is not included in the current mineral resource estimate for
Marmato dated August 7, 2012 and lies below the open pit resource.
Previous significant results (greater than 20 gram -metres) for the Marmato Deep Zone are summarized
below (see the Company’s press release dated October 10, 2012):
Hole From (m) To (m) Width (m) Au (ppm) Ag (ppm)
MT-1445* 275.0 300.0 25.0 0.9 5.3
MT-1445* 429.4 668.4 239.0 1.4 2.3
MT-1445* 68.5 83.0 14.5 1.7 4.3
MT-1455A* 164.0 183.6 19.6 1.4 5.8
MT-1455A* 284.0 327.0 43.0 0.6 2.5
MT-1455A* 424.0 483.0 59.0 0.6 3.0
MT-1455A* 491.0 848.1 357.1 1.4 1.3
M-1498* 204.0 943.5 739.5 1.5 1.1
M-1499A* 33.0 179.0 146.0 0.7 3.2
M-1499A* 292.0 816.0 524.0 1.7 2.3
including 292.0 317.0 25.0 2.1 11.7
and 325.0 816.0 491.0 1.7 1.9
MT-1500* 10.0 74.0 64.0 1.2 6.5
MT-1500* 394.0 1,012.1 618.1 1.6 1.5
including 872.0 888.9 16.9 35.2 3.9
* Denotes underground drill holes. The underground holes were drilled at –55 to -85 degrees from the
horizontal, and the intersection lengths do not represent true widths. Sample lengths are normally 2.0 metres
but may be varied for geological and recovery factors. Intersections were calculated using a cut -off grade of
0.1 g/t gold and no more than 6.0 metres of internal dilution. Gold grades were capped at 20.0 g/t and silver
grades at 500 g/t. The high-grade intercept from hole MT-1500 was not capped and shows a different style of
mineralization. It has a true width of approximately 4.4 meters.
Please refer also to the attached geological cross section of Marmato.
SRK Consulting is preparing an updated minera l resource estimate for Marmato Underground
incorporating the new drill results that is expected to be completed in the second quarter of this year .
Qualified Person
Dr. Stewart D. Redwood, PhD, FIMMM, Senior Consulting Geologist to the Company , is a qualified
person as defined by National Instrument 43 -101 – Standards of Disclosure or Mineral Projects and
prepared or reviewed the preparation of the scientific and technical information in this press release in
respect of the drilling results from the Marmato Project. Dr. Redwood verified the data disclosed in this
news release, including the sampling, analytical and test data underlying the information contained in this
news release. Verification included a review of the quality assurance and qual ity control samples, and
review of the applicable assay databases and assay certificates.
Quality Assurance and Quality Control
The samples were prepared and assayed by SGS Laboratories Ltd (ISO 9001:2008) at their laboratory in
Medellin, Colombia. Gold was assayed by fire assay with atomic absorption spectrophotometer (“ AAS”)
finish. Samples over 10 g/t gold were re-assayed by fire assay with gravimetric finish. Silver was assayed
by aqua regia digestion and AAS finish. Silver samples above 100 g/t were re-assayed by fire assay with
gravimetric finish. Blank, standard and duplicate samples were routinely inserted for quality assurance
and quality control.
The Marmato intersection in hole MND -11-16 was calculated using a cut-off grade of 1.0 g/t Au , uncut
assays, and a maximum actual interval below cut-off grade of 4.35 m.
About Gran Colombia Gold
Gran Colombia is a Canadian-based gold and silver exploration, development and production company
with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver
producer in Colombia with several underground mines in operation at its Se govia and Marmato
Operations.
Additional information on Gran Colombia Gold can be found on the Company’s website at
www.grancolombiagold.com and by reviewing the Company’s page on SEDAR at www.sedar.com.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
This news release contains "forward -looking information", which may include, but is not limited to,
statements with respect to the future financial or operating performance of the Company and its projects.
Often, but not always, forward -looking statements can be identified by the use of words such as "plans",
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actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or ach ievements of Gran Colombia to be materially different from
any future results, performance or achievements expressed or implied by the forward -looking statements.
Factors that could cause actual results to differ materially from those anticipated in these forward-looking
statements are described under the caption “Risk Factors” in the Company’s Annual Information Form
dated as of March 28, 2012 which is available for view on SEDAR at www.sedar.com. Forward-looking
statements contained herein are made as of the date of this press release and Gran Colombia disclaims,
other than as required by law, any obligation to update any forward -looking statements whether as a
result of new information, results, future events, circumst ances, or if management's estimates or opinions
should change, or otherwise. There can be no assurance that forward -looking statements will prove to be
accurate, as actual results and future events could differ materially from those anticipated in such
statements. Accordingly, the reader is cautioned not to place undue reliance on forward -looking
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