Mr. Mike Davies reports
GRAN COLOMBIA GOLD REPORTS NEW MONTHLY GOLD PRODUCTION RECORD IN FEBRUARY 2019; ANNOUNCES DETAILS FOR THE FORTHCOMING FOURTH QUARTER AND YEAR END 2018 RESULTS WEBCAST
Gran Colombia Gold Corp. produced a new monthly record total of 21,335 ounces of gold in February, bringing the total for the first two months of 2019 to 39,276 ounces and the trailing 12-month total gold production at the end of February, 2019, to 223,237 ounces, up 2 per cent over 2018's annual production and near the top end of Gran Colombia's guidance range for 2019 of between 210,000 and 225,000 ounces.
Serafino Iacono, executive co-chairman of Gran Colombia, commenting on the company's latest production results, said: "Our investment in our Segovia operations continues to pay dividends. Our development reached a very high-grade area in our Providencia mine in February where we mined material with between one and two ounces of gold per tonne. This gave us an unexpected boost in production resulting in a new monthly record and bringing Segovia's trailing 12 months total gold production closer toward the 200,000 ounces level."
The Segovia operations set a new monthly record with 19,160 ounces of gold in February, 2019, 12 per cent higher than its previous best month of 17,164 ounces in July, 2018. Gran Colombia processed an average of 1,110 tonnes per day (tpd) in February at its Segovia operations with an average head grade of 21.4 grams per tonne, up from 16.5 g/t last month, driven by high-grade material from the company-operated areas at the Providencia mine which contributed 21 per cent of the total tonnes processed in the month at an average head grade of 44.0 g/t, up from 26.3 g/t last month. The company's mine development and mechanization in the company-operated areas of the El Silencio mine have also helped to increase both the tonnes mined and the average head grades from this mine in 2019 compared with last year. This brings Segovia's total production for the first two months of 2019 to 35,416 ounces, up 19 per cent over the first two months last year, and Segovia's trailing 12-month total gold production at the end of February, 2019, has now reached 198,604 ounces, up 3 per cent over 2018's annual production.
At the Marmato operations, February's gold production reflected an improvement in head grades to an average of 2.85 g/t in the month, up from 2.01 g/t last month. Operations remained steady with an average of 974 tpd processed in February resulting in gold production for the month of 2,175 ounces. This brings Marmato's total production for the first two months of 2019 to 3,860 ounces and its trailing 12-month total gold production at the end of February, 2019, to 24,633 ounces.
Fourth quarter and year-end 2018 results webcast
Gran Colombia also announced today that it will release its financial results for the fourth quarter and full year 2018 after market close on Wednesday, March 27, 2019, and will host a conference call and webcast on Thursday, March 28, 2019, at 9:30 a.m. Eastern Time to discuss the results.
Webcast and call-in details are as follows.
Live event link: see Edge-Media website
North America toll-free: 1-866-215-5508
Colombia toll-free: 01-800-9-156-924
Conference ID: 48386764
A replay of the webcast will be available at
the company's website
from Thursday, March 28, 2019, until Friday, April 26, 2019.
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 producer with several mines in operation at its Segovia and Marmato operations. Gran Colombia is continuing to focus on exploration, expansion and modernization activities at its high-grade Segovia operations.
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