Gran Colombia GOLD Announces Multiple High Grade Drill Results from the Ongoing 2019 Drilling Campaign at Its Segovia Operations
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NEWS RELEASE
GRAN COLOMBIA GOLD ANNOUNCES MULTIPLE HIGH GRADE DRILL RESULTS FROM THE
ONGOING 2019 DRILLING CAMPAIGN AT ITS SEGOVIA OPERATIONS
TORONTO, CANADA, Tuesday, August 13, 2019 – Gran Colombia Gold Corp. (TSX: GCM, OTCQX:
TPRFF) announced today the final assay results from 115 diamond drill holes (10,783 meters) included in
the 2019 underground infill drilling program at its high-grade Segovia Operations and also the assay results
from nine kick-off holes (2,527 meters) in the ongoing directional drilling program in the deep zone at the
El Silencio mine.
Serafino Iacono, Executive Chairman of Gran Colombia, commented, “We are excited to see a continuation
of the high grade gold and silver intercepts in the assay results from our ongoing drilling campaign at the
Segovia Operations in the first half of 2019. In-fill drilling at each of our three core producing mines
increases our confidence in the potential to add new mineral reserves and extend mine life at our flagship
mining operation. The deep zone dr illing at El Silencio has generated some very encouraging high grade
results so far and we expect to complete the first phase of this drilling program by the end of this year. Our
work to identify and prioritize step out and brownfield drilling targets at Segovia, aided by the application of
machine learning by the geologists and data scientists at GoldSpot Discoveries Corp., is progressing well
and we expect to further expand our drilling campaign, over and above what is already planned, later in the
second half of this year."
Segovia Drilling Update
The key highlights and intercepts at Segovia since our February 25, 2019 press release are as follows:
In-fill drilling at Providencia continued to test the Providencia vein system to the west of the current
mine development. Multiple high gold grades were intersected from 56 holes (5,324 meters) drilled
from underground stations on the main vein system with maximum grades of 46.72 g/t Au and 16.9
g/t Ag over 0.48 meters on the Providencia Vein (PV-IU-201). Drilling was successful in extending
and better delineating a second high-grade zone outlined by past drilling located further to the west
of the high-grade orebody that is currently in production, with maximum grades of 27.35 g/t Au and
12.1 g/t Ag over 0.54 meters (PV-IU-200) on the Providencia Vein. Both zones offer the potential
for another phase of resource growth and the high- grade gold mineralized intercepts associated
with these two new zones confirm the higher-gr ade mineralization at depth, which could have a
positive impact, increasing both production and mine life. Gran Colombia is planning to complete
another approximately 3,400 meters of infill drillin g by the end of 2019 to ensure that the 2019
production will be replaced and to add new mineral reserves to the existing ones.
In-fill drilling at Sandra K continued to delineate and further extend down-plunge the main ore-
shoot outlined by mining within the upper levels of the existing operation and past drilling, located
approximately 300 meters to the north of the ma in decline. This orebody remains open at depth
and offers the potential for additional resource growth. Multiple high gold grades were intersected
from 32 holes (3,111 meters) drilled from underground on the main vein system with maximum
grades of 238.96 g/t Au with 377.4 g/t Ag over 0.65 meters on the Sandra K Techo Vein (SK-IU-
084), and 135.55 g/t Au with 519.0 g/t Ag over 0. 49 meters on the 6640 Vein (SK-IU-076). This
high-grade vein occurs about 15 meters above the Sandra K Techo Vein and has been intercepted
for over 150 meters along strike. Gran Colombia is planning another approximately 4,000 meters
of infill drilling to be completed by the end of 2019 to extend down-plunge the ore-shoots located
to the north of the main one.
Infill drilling at El Silencio completed a first phase of testing on the 1040 Vein, which is a splay off
the Manto Vein, and also tested a portion of the mine where the Manto and Piso veins merge into
a main structure. Multiple high gold grades were intersected from 27 holes (2,348 meters) drilled
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from underground stations on the main vein system with maximum grades of 64.87 g/t Au and 60.2
g/t Ag over 0.80 meters on the Manto Vein (ES- IU-065), 20.00 g/t Au and 32.7 g/t Ag over 0.91
meters on the Piso Vein (ES-IU-061), and 39.22 g/ t Au and 23.5 g/t Ag over 0.31 meters on the
1040 Vein (ES-IU-063). Infill drilling on the 1040 Vein was successful in extending the continuity of
the structure down-dip, and in outlining a mining stope on the Manto and Piso veins that could have
a positive impact on the short-term mine plan.
The ongoing directional drilling program on the deep zone at El Silencio has been successful in
extending the north and the middle ore-shoots down-plunge by approximately 150 meters and 100
meters, respectively, below the currently deli neated mineral resource. Drilling has intercepted
narrow veins containing high-grade gold with maximum grades including: 47.62 g/t Au and 81.5 g/t
Ag over 0.30 meters on the Manto Vein in the north ore-shoot (ES-MH01-03), and 13.60 g/t Au and
11.4 g/t Ag over 0.82 meters on the Manto Vein in the middle ore-shoot (ES-MH02A-01-A). There
are still about 4,400 meters remaining to be drilled from the planned program which is scheduled
to be completed by the end of the year.
The table below lists the key intercepts from t he 2019 drilling program since the last press release
issued on February 25, 2019:
Hole From (m) To (m) Width
(m) Vein Au (g/t) Ag (g/t)
Providencia Mine
PV-IU-163* 117.4 124.45 7.05 PRO 4.34 12.7
including 118.18 119.00 0.82 23.74 69.3
PV-IU-170* 111.00 111.70 0.70 PRO 5.63 7.5
including 111.52 111.70 0.18 18.46 22.4
PV-IU-172* 93.60 94.43 0.83 PRO 24.46 17.4
PV-IU-178* 50.42 51.80 1.38 PRO 11.64 7.8
including 50.42 50.90 0.48 PRO 31.44 17.1
PV-IU-187* 49.35 50.05 0.70 PRO 13.99 7.6
PV-IU-189* 30.26 31.18 0.92 PRO 8.18 28.3
PV-IU-192* 77.82 80.30 2.48 PRO 7.00 20.8
PV-IU-196* 80.23 80.95 0.72 PRO 8.01 4.7
PV-IU-197* 57.15 59.40 2.25 PRO 13.85 20.0
including 57.15 58.45 1.30 PRO 23.8 33.7
PV-IU-200* 45.43 45.97 0.54 PRO 27.35 12.1
PV-IU-201* 63.34 67.80 4.46 PRO 10.57 6.1
including 64.30 65.10 0.80 PRO 46.72 16.9
Sandra K Mine
SK-IU-059* 31.60 32.00 0. 40 6640 VEIN 12.22 18.6
SK-IU-059* 34.35 34.70 0. 35 FW 6640 VEIN 10.13 33.3
SK-IU-062* 54.60 56.42 1.82 SKT 6.45 17.2
including 54.60 55.58 0.98 SKT 11.21 23.5
SK-IU-064* 54.50 56.70 2.20 SKT 9.31 22.2
SK-IU-065* 70.64 72.90 2.26 SKT 8.46 23.7
SK-IU-066* 51.60 52.30 0. 70 6640 VEIN 8.48 100.0
SK-IU-067* 101.80 106.90 5.10 SKT 6.07 17.3
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including 103.19 106.90 3.71 SKT 8.22 20.0
SK-IU-069A* 60.40 61.30 0. 90 6640 VEIN 67.14 157.7
SK-IU-069A* 74.05 77.25 3.20 SKT 3.97 339.6
including 74.05 74.40 0.35 SKT 34.61 3089.0
SK-IU-070* 103.43 107.30 3. 87 SKT 10.10 16.8
SK-IU-076* 75.15 76.48 1. 33 6640 VEIN 50.49 191.2
including 75.15 75.64 0.49 6640 VEIN 135.55 519.0
SK-IU-076* 78.42 80.05 1.63 SKT 17.07 41.3
including 78.42 79.20 0.78 SKT 35.59 136.6
SK-IU-077* 80.55 81.60 1. 05 6640 VEIN 54.68 238.0
including 81.10 81.60 0.50 6640 VEIN 84.45 >4000#
SK-IU-078* 68.60 73.00 4.40 SKT 9.03 24.1
SK-IU-080* 79.35 80.90 1.55 SKT 9.98 19.6
SK-IU-082* 79.07 79.85 0.78 SKT 14.67 29.2
SK-IU-083* 88.20 90.15 1.95 SKT 14.53 24.9
SK-IU-084* 116.25 119.35 3. 10 SKT 59.03 116.7
including 116.60 117.25 0.65 SKT 238.96 377.4
El Silencio Mine
ES-IU-061* 7.35 8.26 0.91 VEP 20.00 32.7
ES-IU-063* 75.09 75.40 0. 31 1040 VEIN 39.22 23.5
ES-IU-065* 3.10 3.90 0.80 VEM 64.87 60.2
ES-IU-066* 6.10 6.97 0.87 VEM 7.01 19.2
ES-IU-067* 2.44 3.00 0.56 VEM 20.56 58.9
ES-IU-069* 2.95 5.10 2.15 VEM 5.37 11.4
including 2.95 3.29 0.34 VEM 32.62 25.4
ES-IU-070* 1.62 4.00 2.38 VEP 7.02 12.6
including 1.62 2.20 0.58 VEP 28.15 38.8
ES-IU-072* 0.00 2.85 2.85 VEM 11.98 21.7
ES-IU-072* 101.96 102.31 0.35 1040-HW1 32.19 31.5
ES-IU-073* 1.36 2.39 1.03 VEM 8.74 27.2
including 1.36 1.72 0.36 VEM 21.79 53.3
ES-IU-073* 94.14 94.47 0. 33 1040 VEIN 31.51 37.3
ES-IU-076* 2.51 4.74 2.23 VEM 3.88 18.2
including 2.51 3.22 0.71 VEM 11.03 35.4
ES-IU-077* 2.60 4.00 1.40 VEM 8.49 14.1
ES-IU-079* 6.77 9.30 2.53 VEP 5.19 60.6
including 6.77 7.70 0.93 VEP 11.94 15.3
ES-MH01-03** 686.00 686.30 0.30 VEM (north ore-
shoot) 47.62 81.5
ES-MH01-05** 758.30 758.92 0.62 VEM (north ore-
shoot) 37.23 175.5
ES-MH02A-01-A** 839.85 840.67 0.82 VEM (middle ore-
shoot) 13.60 11.4
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* Denotes underground drill holes. The underground in-fill holes were drilled at 0 to -80 degrees
from the horizontal. Sample interval grades over 7.0 g/t Au reported. Grades are for quartz vein
intersections and are length-weighted composites. The width is the sample length and is not
necessarily the true width of the vein. All gol d and silver grades are uncut and are not diluted
to a minimum mining width. Abbreviations: HW: hanging wall vein, FW: footwall vein.
** Denotes directional drilling kick-off holes. The directional drilling kick-off holes were drilled
at -40 to -70 degrees from the horizontal.
# Denotes a minimum value for Ag as one sample is greater than the upper limit of detection
of the overlimit assays (4000 ppm) and the resu lt of reassay by an appropriate method is
awaited.
Results from infill drilling are reported for 115 holes (10,783 m) including 56 holes (5,324 m) at
Providencia (PV-IU-163 to PV-IU-218), 32 holes (3,111 m) at Sandra K (SK-IU-056 to SK-IU-
086) and 27 holes (2,348 m) at El Silencio ( ES-IU-060 to ES-IU-086). There are no results
above cut-off grade for 44 holes at Providenc ia, 17 holes at Sandra K and 19 holes at El
Silencio and so these holes are not listed.
Results from directional drilling from surface and underground at El Silencio are reported from
nine kick-off holes (ES-MH01-01 to ES-MH 01-07 and ES-MH02A-01A to ES-MH02A-02)
(2,527 m) including seven kick-off holes (1,957 m) on the north ore-shoot and two kick-off holes
(570 m) on the middle ore-shoot. In addition, 2,406 meters were drilled in four mother holes,
one of which was aborted.
Please refer also to the attached illustrative maps showing the Providencia, Sandra K and El Silencio drilling
programs.
Gran Colombia currently has five diamond drill rigs in operation at Segovia, with three rigs carrying out
resource definition within the underground developm ents of the Providencia, Sandra K and El Silencio
mines, and two drill rigs operating at Campo Alegre ta rgeting the down-plunge extension of the north and
central ore-shoots of the El Silencio mine, one from surface and one from underground.
Qualified Person
Dr. Stewart D. Redwood, PhD, FIMMM, FGS, 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.
Verification included a review of the quality assura nce and quality control samples, and review of the
applicable assay databases and assay certificates.
Quality Assurance and Quality Control
The Segovia samples were prepared and assayed by SGS Laboratories Ltd (ISO 9001:2008) at their
laboratory in Medellin, Colombia. Gold was assay ed by 30 g fire assay with atomic absorption
spectrophotometer (“AAS”) finish. Samples above the upper detection limit of 10.0 g/t gold were re-assayed
by 30 g fire assay with gravimetric finish. Silver was assayed by aqua regia digestion and AAS finish. Silver
samples above 500 g/t were re-assayed by aqua regia or multiacid digestion with AAS finish for ore grades.
Blank, standard and duplicate samples were routinely inserted and monitored for quality assurance and
quality control.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is
currently the largest underground gold and silver produc er with several mines in operation at its Segovia
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and Marmato Operations. Gran Colombia is conti nuing to focus on exploration, expansion and
modernization activities at its high-grade Segovia Operations.
Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and
by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking inform ation", which may include, but is not limited to,
statements with respect to anticipated business plans or strategies, including exploration programs and
mineral resources and reserves. Often, but not always, forward-looking statements can be identified by the
use of words such as "plans", "expects", "is expe cted", "budget", "scheduled", "e stimates", "forecasts",
"intends", "anticipates", or "believes" or variatio ns (including negative variations) of such words and
phrases, or state that certain action s, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved. Forward-looking statement s involve known and unknown risks, uncertainties and
other factors which may cause the act ual results, performance or achievements of Gran Colombia to be
materially different from any future results, perfo rmance 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 27, 2019 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, circumstances, 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 statements.
For Further Information, Contact:
Mike Davies
Chief Financial Officer
(416) 360-4653
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Attachment 1 - Providencia Infill Drilling Grade Intercepts
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PHONE: 416-360-4653; FAX: 416-603-4653
Attachment 2 – Sandra K 6640 Vein Infill Drilling Grade Intercepts
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PHONE: 416-360-4653; FAX: 416-603-4653
Attachment 3 – Sandra K Techo Vein Drilling Grade Intercepts