Topographical Map showing the locations of the gold deposits.
GEORGETOWN, Guyana--Gran Colombia Gold Corporation has announced results from the recently completed Phase 2 diamond drill programme at its 100 per cent-owned Toroparu Project in Western Guyana. The 10,494-metre (m) Phase 2 programme was designed to confirm the continuity of both the north-west-oriented high-grade gold structures and the cross-cutting east-west high-grade structures that create a repeatable pattern of intersecting zones amenable to underground mining methods over the four-kilometre (km) strike length of the Toroparu Project.
Serafino Iacono, Executive Chairman of Gran Colombia, commented, “The discovery of the structural control of high-grade gold [element symbol Au – Ed.] mineralisation at Toroparu has reaffirmed our confidence in the potential value of this project as one of our cornerstone assets. The recently completed, two-phase diamond drill programme comprised a total of 20,750m in 114 drill holes and has confirmed a 4km strike length of high-grade structurally controlled gold mineralisation at Toroparu.
“In addition, the programme identified a repeated pattern of intersections of north-west-south-east (NW-SE) and east-west (E-W) oriented sub-vertical structures containing high-grade zones extending over mineable widths up to 100m vertically (‘jewellery boxes’) that support our belief that a high-grade resource amenable to underground mining methods lies at the core of this very large, disseminated gold deposit. We are currently working with Nordmin to prepare an updated mineral resource estimate and preliminary economic assessment ‘PEA’ incorporating the high-grade results from this latest drilling programme. We expect the PEA will be completed later this summer.”
Highlights
Assay results from the 2021 Phase 2 High-Grade Definition Drill Program extend high-grade mineralisation to the north-west of historical drilling and confirm a 4km overall strike length of the Toroparu Deposit Area.
Drill results identify several additional concentrations of high-grade gold contained in intersecting NW-SE and E-W structures (“pipes”) that occur in a repetitive pattern across the deposit. These structural pipes exhibit continuity over 2-25m widths extending over 30-100m vertically and confirm the potential for significant volumes of gold mineralisation amenable to underground mining methods exists along the 4km Toroparu Deposit Area.
The high-grade mineralised pipes, ranging in grade from approximately five grams per tonne (g/t) gold (“Au”) to greater than 20g/t Au over potentially mineable widths, are often surrounded by a lower grade (0.5-5.0g/t Au) halo of mineralised material.
The high-grade gold grades intersected in structures range from 2.42g/t Au to 101.7g/t Au and have a length-weighted average grade of 6.7g/t Au (uncut) over 113m and 76 intervals highlighted in this release.
Since historical drilling has been limited to the upper 450m of vertical extension of the deposit, this remains open at depth across the 4km of strike length at depths that are relatively shallow for an underground mine. Results from the most north-west set of drill holes, which intersected multiple high-grade intervals, indicate that the high-grade structural component of the deposit is still open along the strike to the north-west.
Gran Colombia is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the company is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. In Guyana, the company is advancing the Toroparu Project, one of the largest undeveloped gold projects in the Americas. Gran Colombia also owns approximately 44 per cent of Aris Gold Corporation, an approximately 27 per cent equity interest in Denarius Silver Corp. and an approximately 26 per cent equity interest in Western Atlas Resources Inc. ~ iNews Guyana ~
