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Gran Colombia provides production update

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Global Mining Review,

Gran Colombia Gold Corp. has announced that it remains on track to produce between 200 000 and 220 000 oz of gold (Au) in 2021 from its high-grade Segovia Operations in Antioquia, Colombia. In February 2021, Gran Colombia produced 15 354 oz of gold and 18 922 oz of silver (Ag) at Segovia bringing the total for the first 2 months of the year to 30 415 oz of Au and 37 519 oz of Ag.

Lombardo Paredes, CEO of Gran Colombia said: “Segovia continues to be a world class mining title with a rich history of mineral exploitation. We have confidence in our ongoing exploration programme to continue to add reserves and resources, replacing what we are mining each year. Our next reserve and resource update will be available at the end of this month. Our ongoing mine development programme continues to open new areas for mining and this month we surpassed the 1500 tpd average for an entire month for the first time since we completed the plant expansion last year. The next phase of plant expansion to 2000 tpd is proceeding well and should be completed in 2H21. Historically, mineral exploitation in the Segovia title has also included zinc and lead. In February, we completed the funding for our new recovery plant under construction at Segovia that will come on stream later this year and allow us to recover commercial quantities of zinc, lead, gold and silver into concentrate from our tailings. This not only represents an additional source of cash flow from our mining operations, it further improves our environmental impact by eliminating these minerals from the tailings going into our storage facility. We will continue to provide updates on these projects as they progress this year.”

Gran Colombia processed 42 345 t in February 2021 at its Segovia Operations, up from 41 426 t in January, despite February being a shorter month. This represented a daily processing rate of 1512 tpd in February, up from 1336 tpd the month before which included a two-day planned shutdown of the Maria Dama plant for regular maintenance. Head grades and mill recovery averaged 12.54 g/t and 90%, respectively, in February. This brings the daily processing rate to an average of 1420 tpd for the first 2 months of 2021 with an average head grade of 12.55 g/t and mill recovery of 90%.

Gran Colombia has also announced that its Board of Directors has declared the next monthly dividend of CAN$0.015 per common share will be paid on 15 April 2021 to shareholders of record as of the close of business on 31 March 2021.

Moreover, Gran Colombia will release its 4Q20 and annual financial results after market close on Wednesday 31 March 2021 and will host a conference call and webcast on Thursday 1 April 2021 at 9:00 a.m. Eastern Time to discuss the results.

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