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GCM Mining announce Segovia drill results

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Global Mining Review,

GCM Mining Corp. has announced multiple high-grade intercepts from the latest 130 diamond drill holes, totalling 30 714 m, from the 2021 in-mine and near-mine drilling programmes, as well as 28 diamond drill holes, totalling 6946 m, from the 2021 brownfield drilling programmes at its Segovia Operations. The company also announced the assay results from eight additional kick-off diamond drill holes (4509 m) from the ongoing directional drilling programme at the El Silencio Deep Zone.

Significant high-grade intercepts from the latest drill results include:

In-mine and near-mine drilling

  • Sandra K:
    • SK-ES-006: 138.25 g/t gold (Au) and 574 g/t silver (Ag) over 0.33 m on the Sandra K Techo Vein.
    • SK-IU-179: 120.77 g/t Au and 682 g/t Ag over 0.54 m on the Sandra K Techo Vein.
  • Chumeca:
    • CH-IU-036: 26.89 g/t Au and 17.2 g/t Ag over 0.55 m on the Chumeca Footwall Vein.
  • El Silencio:
    • ES-EU-027: 128.78 g/t Au and 43.7 g/t Ag over 0.3 m on the Manto Vein.
    • ES-MH08-06: 28.2 g/t Au and 24.7 g/t Ag over 0.75 m on the 450 Vein.
    • ES-MH08-10: 66.87 g/t Au and 12.9 g/t Ag over 0.74 m on the Manto Vein.
  • Providencia:
    • PV-IU-286: 53.66 g/t Au and 26.1 g/t Ag over 0.46 m on the Providencia Footwall Vein.
  • Carla:
    • CA-ES-023C: 25.46 g/t Au with 24.6 g/t Ag over 0.39 m on the La Gran Colombia Hanging-wall Vein.

Brownfield drilling

  • Vera:
    • VER-ES-017: 1.83 g/t Au and 432.3 g/t Ag over 0.42 m on the Lluvias Vein.
  • Marmajito:
    • MAR-EU-008: 22.56 g/t Au and 21.8 g/t Ag over 0.54 m on the Marmajito Vein.
  • Manzanillo:
    • MAN-EU-001: 41.22 g/t Au and 58.2 g/t Ag over 0.63 m on the Manzanillo Vein.
  • La Guarida:
    • CR-ES-014: 62.34 g/t Au and 37.3 g/t Ag over 0.40 meters on the La Guarida Vein.

Serafino Iacono, Executive Chairman of GCM Mining, commented: “Our 2021 in-mine and brownfield drilling programmes are continuing to provide us with outstanding results, re-affirming Segovia’s position in the top five highest-grade global underground gold operations. We will be incorporating these results in our annual mineral reserve and resource updates expected to be announced at the end of March 2022. The Sandra K and El Silencio results continue to impress both in terms of grades and widths and will undoubtedly lead to an important resource growth coupled with an extension of the mine life. A new orebody encountered at Providencia also offers the potential for additional mineral resource growth and extension of its mine life. In addition, initial high-grade results from the Manzanillo and La Guarida veins are shaping up our ongoing brownfield drilling campaign which will continue in 2022, focused on the other 24 known veins we are not currently mining, as an exciting opportunity to add resources and new mines at Segovia.”

The ongoing 2021 in-mine and near-mine infill and step-out drilling programmes commenced in early January with four diamond drill rigs operating from purpose-built underground drill stations and comprise a total of approximately 40 000 m, or about 67% of the total drilling programme for this year. In-mine and near-mine infill and step-out drilling is focused on replacing the 2021 mining production and organic growth through resource and reserve expansion at the company’s core operating mines. The other 33% of the planned drilling campaign for 2021, which is focused on achieving new resources from the brownfield exploration targets encompassing the 24 veins within the Segovia mining title that are not currently in production, commenced in late 2020 at the Vera Project with one diamond drill rig operating from purpose-built surface drill stations. 100% of the total in-mine and near-mine drilling campaign for 2021 and approximately 50% of the brownfield exploration drilling campaign were completed by the end of October.

GCM Mining currently has eight diamond drill rigs in operation at Segovia. Two rigs are carrying out resource definition in the Sandra K mine from one purpose-built surface platform and one underground drill station within the underground developments of the Sandra K mine; two rigs are operating from two purpose-built underground drill stations within the underground developments of the El Silencio mine testing the 450 and Manto veins from Level 38 and the National Vein from the Lejanias sector; one rig is operating from surface at Carla to follow-up the high-grade intercepts encountered at depth during the 2020 drilling campaign; two rigs are operating from surface on the La Guarida-Cristales Trend; and one rig is operating from surface at Vera testing the northeastern extension of the vein system and a soil gold anomaly.

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