Gran Colombia: 10 Percent Climb in Gold Production

Gold production increased by 10 percent in 2019

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia. There, it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations.

In 2019, the Company saw gold production climb by 10 percent. They are also aggressively drilling its high grade deposits.

Gran Colombia owns 72% of Caldas Gold Corp., a Canadian mining company. Caldas is currently advancing a prefeasibility study for a major expansion and modernization of its underground mining operations. The operation is at its Marmato Project in Colombia. Gran Colombia’s project pipeline includes its Zancudo Project in Colombia together with a 21% equity interest in Gold X Mining Corp.

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Gran Colombia produces gold from the Segovia Operations. It's located in an area of approximately 9,000 hectares in the Segovia-Remedios mining district of Antioquia. These high-grade mines have been in continuous operation for over 150 years and over that time have produced more than an estimated 5 million ounces of gold.

The Segovia Operations include the El Silencio, Providencia and Sandra K underground mines in the Municipality of Segovia. It also includes the Carla underground mine in the Municipality of Remedios, located approx. 10 km southeast of the Segovia mines. Mining operations incorporate both Company-operated areas and an artisanal miner model that contracts local third party miners to work in Gran Colombia’s concessions and to deliver the ore to Gran Colombia’s mill for processing.

Since taking control of the assets in 2010, Gran Colombia has initiated an extensive exploration and drilling program around the existing mines to identify new resources to be able to expand production and has commenced exploration in new areas of its concessions to identify potential new production areas. Simultaneously, the Company is in the midst of an extensive modernization program at the historical mines. This will introduce mechanization, to improve production efficiency and safety, and to reduce its all-in sustaining costs.

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