GCM Mining Corp. (“GCM Mining” or the “Company”) (TSX: GCM; OTCQX:
TPRFF) announced today multiple high-grade intercepts from the
latest 130 diamond drill holes, totaling 30,714 meters, from the
2021 in-mine and near-mine drilling programs, as well as 28 diamond
drill holes, totaling 6,946 meters, from the 2021 brownfield
drilling programs at its Segovia Operations. The Company also
announced the assay results from 8 additional kick-off diamond
drill holes (4,509 meters) from the ongoing directional drilling
program at the El Silencio Deep Zone.
Significant high-grade intercepts from the
latest drill results include:
In-mine and near-mine
drilling
- Sandra K: 138.25 g/t Au and 574.0 g/t Ag over 0.33 meters on
the Sandra K Techo Vein (SK-ES-006);
- Sandra K: 120.77 g/t Au and 682.0 g/t Ag over 0.54 meters on
the Sandra K Techo Vein (SK-IU-179);
- Chumeca: 26.89 g/t Au and 17.2 g/t Ag over 0.55 meters on the
Chumeca Footwall Vein (CH-IU-036);
- El Silencio: 128.78 g/t Au and 43.7 g/t Ag over 0.30 meters on
the Manto Vein (ES-EU-027);
- El Silencio: 28.20 g/t Au and 24.7 g/t Ag over 0.75 meters on
the 450 Vein (ES-MH08-06);
- El Silencio: 66.87 g/t Au and 12.9 g/t Ag over 0.74 meters on
the Manto Vein (ES-MH08-10);
- Providencia: 53.66 g/t Au and 26.1 g/t Ag over 0.46 meters on
the Providencia Footwall Vein (PV-IU-286);
- Carla: 25.46 g/t Au with 24.6 g/t Ag over 0.39 meters on the La
Gran Colombia Hanging-wall Vein (CA-ES-023C).
Brownfield drilling
- Vera: 1.83 g/t Au and 432.3 g/t Ag
over 0.42 meters on the Lluvias Vein (VER-ES-017);
- Marmajito: 22.56 g/t Au and 21.8
g/t Ag over 0.54 meters on the Marmajito Vein. (MAR-EU-008);
- Manzanillo: 41.22 g/t Au and 58.2
g/t Ag over 0.63 meters on the Manzanillo Vein (MAN-EU-001);
- La Guarida: 62.34 g/t Au and 37.3
g/t Ag over 0.40 meters on the La Guarida Vein (CR-ES-014).
Serafino Iacono, Executive Chairman of GCM
Mining, commented, “Our 2021 in-mine and brownfield drilling
programs 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 programs commenced in early January with four
diamond drill rigs operating from purpose-built underground drill
stations and comprise a total of approximately 40,000 meters, or
about 67% of the total drilling program 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.
Key Highlights
IN-MINE and NEAR-MINE
DRILLING
Sandra K
In-mine infill drilling from underground station
SK5290, installed off Level 4, was completed. This program has
further extended down-plunge, to approximately future levels 7 to
9, an ore-shoot outlined by previous drilling, which occurs in a
block of the Sandra K Vein System delimited by a set of faults
striking NE and steeply dipping to the north related to the
Lejanias Fault System. This orebody remains open at depth. A high
gold grade intercept was intersected from drill hole SK-IU-174
(192.95 meters) on the main vein system with maximum intersection
grades of 47.00 g/t Au with 568.0 g/t Ag over 0.50
meters on the Sandra K Techo Vein. This orebody offers the
potential for another phase of resource growth and the high-grade
gold mineralized intercepts encountered so far confirm the
higher-grade mineralization at depth.
Additional in-mine infill drilling from
underground station SK5480, installed off Level 4, was completed.
This program has continued to delineate and further extend
down-plunge, to approximately Level 9, the ore-shoot drilled from
station SK5290 and the main ore-shoot located in the north fault
block of the Sandra K mine, outlined by mining in the upper levels
of the existing operation and by past drilling. Multiple high gold
grades were intersected from 17 drill holes (3,077 meters) on the
main vein system with maximum intersection grades of 120.77
g/t Au with 682.0 g/t Ag over 0.54 meters on the Sandra K
Techo Vein (SK-IU-179).
Exploration drilling from surface platform
SK5050, located in the southern fault block of the vein system, was
completed. This program, designed on a 150 m x 150 m drill spacing,
was aimed to extend some narrow ore-shoots outlined by previous
surface drilling up to future levels 8 to 12. Multiple high gold
grades were intersected from 9 drill holes (4,570 meters) on the
main vein system with maximum intersection grades of 138.25
g/t Au with 574.0 g/t Ag over 0.33 meters on the Sandra K
Techo Vein (SK-ES-006).
Additional exploration drilling from surface
platforms SK5700, SK5875 and SK6020, located in the northern fault
block of the vein system, was carried out with the programs
completed on the first two platforms while it is still ongoing on
the third. All these programs were designed on a wide drilling
spacing, from 100 m x 100 m to 150 m x 150 m and aimed to extend
down-dip the main vein system by 500 meters from Level 6, which is
the deepest level of the mine. Drilling was successful in extending
further along strike and down-dip, to approximately Level 11, the
main vein system. Multiple high gold grades were intersected from
13 drill holes (5,593 meters) on the main vein system with maximum
intersection grades of 16.78 g/t Au with 334.2 g/t Ag over
0.45 meters on the Sandra K Techo Vein (SK-ES-015).
Chumeca
In-mine infill drilling from underground station
CH4780, installed on Level 3, aimed to prove the continuity of the
Chumeca Vein close to the intersection with the Sandra K Techo Vein
was completed. Drilling was successful in demonstrating such
continuity, but the vein is very narrow, and grades are erratic.
Two high gold grades were intersected from 6 drill holes (820
meters) on the main vein system, which outline two distinct
structures named as the Chumeca Hanging-wall and Footwall Veins
interpreted as a split of the main Chumeca Vein, with maximum
intersection grades of 47.32 g/t Au with 71.6 g/t Ag over
0.60 meters on an unknown structure (CH-IU-035) and
26.89 g/t Au with 17.2 g/t Ag over 0.55 meters on
the Chumeca Footwall Vein (CH-IU-036).
El Silencio
The ongoing directional drilling program on the
El Silencio Deep Zone is targeted to extend and better delineate
the southern ore-shoot down-plunge below Level 40, the deepest
level of historical mining on the Manto Vein by Frontino Gold
Mines. Drilling on the southern ore-shoot continues to be
successful in confirming the high-grade nature of the 450 Vein and
extending the down-plunge continuity of one (southern) of the two
distinct high-grade domains, previously combined, on the Manto Vein
by 150 meters. The 450 Vein, interpreted as a low angle vein or
manto, occurs in the hanging-wall of the Nacional Vein, some 40
meters vertically above. Multiple high gold grades were intersected
from 8 kick-off holes (4,509 meters) with maximum intersection
grades of 28.20 g/t Au with 24.7 g/t Ag over 0.75
meters on the 450 Vein (ES-MH08-06) and 66.87 g/t
Au with 12.9 g/t Ag over 0.74 meters on the Manto Vein
(ES-MH08-10).
The ongoing in-mine exploration drilling from
underground station ES4170, installed off Level 17 of the
Providencia mine, was designed to prove the continuity of the Manto
Vein in the southernmost portion of El Silencio mine. Drilling was
successful in demonstrating such continuity coupled with high
grades. Multiple high gold grades were intersected from 5 drill
holes (2,123 meters) with maximum intersection grades of
128.78 g/t Au with 43.7 g/t Ag over 0.30 meters
(ES-EU-027) and 74.46 g/t Au with 109.8 g/t Ag over 0.95
meters both on the Manto Vein (ES-EU-029).
Providencia
In-mine infill drilling from underground station
PV6115, located at the westernmost end and off Level 14, was
completed to test the high-grade intercept encountered in drill
hole PV-IU-276, located below the development of Level 14 to the
west that intersected a new orebody with 42 meters horizontal width
at an average grade of 25.0 g/t Au. Multiple medium to high gold
grades were intersected from 20 drill holes (1,868 meters) on the
main vein system with maximum intersection grades of 53.66
g/t Au with 26.1 g/t Ag over 0.46 meters on the
Providencia Vein (PV-IU-286). This new orebody offers the potential
for additional mineral resource growth and extension of the mine
life.
Carla
Step-out and infill drilling programs were
carried out from surface platforms CA4840 and CA4850, respectively,
with the program completed on the first platform while it is still
ongoing on the second. The drilling program from station CA4840,
designed on a 50 m x 50 m drilling spacing, was aimed to explore
the southern portion of the La Gran Colombia Vein System east of
Levels 3 to 6. Some medium to high gold grades were intersected
from 7 drill holes (1,381 meters) on the main vein system with
maximum intersection grades of 25.46 g/t Au with 24.6 g/t
Ag over 0.39 meters on the La Gran Colombia Hanging-wall
Vein (CA-ES-023C). Drilling from station CA4850 was designed to
test the La Gran Colombia Vein System further down-dip from
drilling from station CA4840, and to correlate the intersections
from this follow up phase of drilling with some high-grade
intercepts encountered in the 2020 drilling phase. To date, it is
still difficult to correlate the high-grade intercepts with the
main structures of the La Gran Colombia Vein System interpreted so
far that comprises: the La Gran Colombia Vein (“LGC”), which is a
northerly-trending master vein with a continuous strike of more
than 700 meters and has been drilled to a vertical depth of about
250 meters, on which a small-scale underground mining operation was
developed in the past; a hanging-wall vein (“LGC-HW1”) that strikes
and dips sub-parallel and in close proximity to the LGC, which
merges into the LGC or dies out at depth; and a possible third
high-grade, narrow new structure logged as a breccia (“LGC-FW1”),
occurring in the footwall of the LGC, interpreted as a splay-off
the LGC gently dipping to the north.
BROWNFIELD DRILLING
Vera
Exploration drilling from surface station
VER4980 confirmed the continuity of the Lluvias Vein to the
southeast of the Vera mine.
Further exploration drilling, designed on a 50 m
x 50 m drilling spacing, continued from two additional surface
stations VER5220 and VER5560 with the purpose to extend the orebody
encountered on the Lluvias Vein to the northeast. Multiple high
silver grades were intersected from 10 drill holes (2,598 meters)
on the Lluvias Vein with maximum intersection grades of
1.83 g/t Au with 432.0 g/t Ag over 0.46 meters
(VER-ES-017).
Marmajito
The brownfield exploration drilling program,
which commenced in February 2021 with one diamond drill rig
operating from the underground drill station PV5630, installed off
Level 17 of the Providencia mine, was completed in early June with
a total of 2,491 meters in 10 drill holes. This program was aimed
at testing the extension of the structure to the west and down-dip.
Drilling was successful in extending the structure, but the vein is
narrow. Multiple high gold grades were intersected from 6 drill
holes (1,441 meters) with maximum intersection grades of
22.56 g/t Au with 21.8 g/t Ag over 0.54 meters on
the Marmajito Vein. (MAR-EU-008).
Manzanillo
The Manzanillo brownfield target is
characterized by a NE trending vein, dipping to the E, set in a
complex structural block delimited by the El Silencio Vein System
to the east, the Verticales North System to the west and the K
Fault to the north. This target is historically known for hosting
the high-gold grade Victoria Reina ore shoot.
The mine workings developed on 4 levels appear
to indicate that the historic ore shoot shows a NW plunge, as
opposed to the usual NE plunge of all other ore shoots throughout
the Segovia-Remedios Mining District.
The initial brownfield exploration drilling
program carried out on the Manzanillo Vein commenced in early June
2021 with one diamond drill rig operating from the underground
drill station ES5225, installed on Level 23 of the El Silencio
mine, and was completed in late August, totaling 1,115.50 meters in
3 drill holes. This program aimed at testing the down-dip extension
of the Manzanillo Vein was extremely successful in extending the
structure more than 1,000 meters. Multiple medium to high gold
grades were intersected with maximum intersection grades of
41.22 g/t Au with 58.2 g/t Ag over 0.63 meters on
the Manzanillo Vein (MAN-EU-001).
La Guarida-Cristales Trend
The ongoing brownfield exploration drilling
program on the high-grade La Guarida-Cristales Trend, located in
the northernmost sector of the title, commenced in August 2021 with
one diamond drill rig initially operating from the surface drill
platform CR6640 and then from the CR6700 drill platform. This
drilling program was designed to explore the southern extension of
the La Guarida Vein from the CR6640 platform and to test the
down-plunge extension of the La Guarida mine ore shoot from the
CR6700 platform. The La Guarida-Cristales Trend runs approximately
1.2 km along strike with the La Guarida and Cristales mines located
at the southern and northern ends of the trend, respectively. The
Cristales mine was operated by Frontino Gold Mines (FGM), which
developed the mine on 6 levels, the longest (Level 4) being
approximately 658 meters. Gold mineralization at La Guarida is
contained predominantly within a N10-20° trending sigmoidal quartz
vein dipping moderately (20-30°) to the south, ranging from 0.15 m
to 1.30 m in thickness, hosted by granodiorite to quartz-monzonite.
The style of mineralization is characterized by two main stages of
mineralization: “Stage 1” is represented by milky quartz,
disseminated or nested pyrite, galena and sphalerite, while “Stage
2” is characterized by grey quartz and banded pyrite intergrown
with galena and sphalerite. A total of 8 drill holes totaling 1,404
meters have been completed so far at La Guarida, with maximum
intersection grades of 62.34 g/t Au with 37.3 g/t Ag over
0.40 meters on the La Guarida Vein (CR-ES-014).
The following tables list the key intercepts
from the ongoing 2021 in-mine, near mine and brownfield drilling
programs since the press release issued on June 9, 2021.
|
In-Mine and Near-Mine Drill Program |
|
SANDRA K MINE |
|
Surface Drilling station SK5700 |
|
Hole |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
Ag (g/t) |
Vein |
|
SK-ES-004A |
339.62 |
342.21 |
2.59 |
7.05 |
3.2 |
SKT |
|
SK-ES-007 |
117.52 |
117.98 |
0.46 |
11.86 |
19.9 |
SNO |
|
SK-ES-007 |
352.13 |
353.39 |
1.26 |
7.27 |
20.0 |
SKT |
|
including |
352.47 |
352.91 |
0.44 |
15.14 |
32.2 |
SKT |
|
SK-ES-010 |
182.50 |
183.10 |
0.60 |
11.68 |
33.6 |
SNO |
|
SK-ES-015 |
342.96 |
344.07 |
1.11 |
8.75 |
186.5 |
SKT |
|
including |
343.62 |
344.07 |
0.45 |
16.78 |
334.2 |
SKT |
|
Surface Drilling station SK5050 |
|
SK-ES-006 |
478.80 |
479.79 |
0.99 |
106.92 |
349.0 |
SKT |
|
including |
478.80 |
479.13 |
0.33 |
138.25 |
574.0 |
SKT |
|
SK-ES-009 |
456.28 |
457.85 |
1.57 |
3.28 |
12.4 |
SKT |
|
including |
456.28 |
456.64 |
0.36 |
9.59 |
7.2 |
SKT |
|
SK-ES-011 |
460.25 |
461.99 |
1.74 |
6.65 |
10.5 |
SKT |
|
including |
461.42 |
461.99 |
0.57 |
18.66 |
19.0 |
SKT |
|
SK-ES-013 |
496.31 |
497.62 |
1.31 |
12.77 |
11.4 |
SKT |
|
including |
496.31 |
496.87 |
0.56 |
28.0 |
26.5 |
SKT |
|
SK-ES-020 |
511.38 |
516.61 |
5.23 |
0.92 |
3.0 |
SKT |
|
including |
516.03 |
516.61 |
0.58 |
7.24 |
8.6 |
SKT |
|
SK-ES-021 |
515.09 |
517.16 |
2.07 |
8.43 |
8.5 |
SKT |
|
including |
516.05 |
516.55 |
0.50 |
30.23 |
19.7 |
SKT |
|
Surface Drilling station SK6020 |
|
SK-ES-022 |
387.93 |
391.24 |
3.31 |
1.61 |
9.3 |
SKT-FW |
|
including |
390.77 |
391.24 |
0.47 |
8.32 |
16.4 |
SKT-FW |
|
U-G Drilling station SK5290 |
|
SK-IU-174* |
171.30 |
173.55 |
2.25 |
16.58 |
138.8 |
SKT |
|
including |
171.30 |
171.80 |
0.50 |
47.00 |
568.0 |
SKT |
|
U-G Drilling station SK5480 |
|
SK-IU-179* |
132.87 |
135.07 |
2.20 |
35.65 |
185.2 |
SKT |
|
including |
134.53 |
135.07 |
0.54 |
120.77 |
682.0 |
SKT |
|
SK-IU-180* |
136.31 |
138.21 |
1.90 |
15.48 |
64.9 |
SKT |
|
including |
136.31 |
137.15 |
0.84 |
31.90 |
116.4 |
SKT |
|
SK-IU-182* |
115.78 |
116.56 |
0.78 |
11.93 |
40.6 |
6640 |
|
SK-IU-182* |
122.63 |
128.00 |
5.37 |
1.75 |
9.9 |
SKT |
|
including |
122.63 |
123.00 |
0.37 |
17.35 |
99.2 |
SKT |
|
SK-IU-183* |
120.42 |
121.00 |
0.58 |
10.67 |
36.7 |
6640 |
|
SK-IU-183* |
131.80 |
133.04 |
1.24 |
6.71 |
30.7 |
SKT |
|
including |
131.80 |
132.15 |
0.35 |
13.48 |
58.2 |
SKT |
|
SK-IU-184* |
181.53 |
182.45 |
0.92 |
14.44 |
24.4 |
SKT-FW |
|
SK-IU-184A* |
185.34 |
186.73 |
1.39 |
47.49 |
105.7 |
SKT-FW |
|
including |
185.66 |
186.24 |
0.58 |
106.55 |
235.2 |
SKT-FW |
|
SK-IU-185* |
202.90 |
203.40 |
0.50 |
52.02 |
36.6 |
SKT-FW |
|
SK-IU-187* |
117.75 |
118.96 |
1.21 |
12.90 |
52.3 |
SKT |
|
SK-IU-188* |
134.85 |
138.16 |
3.31 |
3.15 |
19.4 |
SKT |
|
including |
134.85 |
135.18 |
0.33 |
13.03 |
42.5 |
SKT |
|
SK-IU-189* |
158.75 |
160.42 |
1.67 |
7.48 |
21.7 |
SKT |
|
including |
160.05 |
160.42 |
0.37 |
12.11 |
35.5 |
SKT |
|
SK-IU-193* |
224.50 |
225.79 |
1.29 |
32.30 |
0.4 |
SKT-FW |
|
including |
225.35 |
225.79 |
0.44 |
91.22 |
0.4 |
SKT-FW |
|
SK-IU-194* |
127.22 |
128.23 |
1.01 |
9.57 |
1.8 |
6640 |
|
SK-IU-194* |
154.14 |
156.24 |
2.10 |
16.80 |
9.0 |
SKT |
|
SANDRA K MINE – CHUMECA VEIN |
|
U-G Drilling station CH4780 |
|
CH-IU-035* |
77.55 |
78.15 |
0.60 |
42.32 |
77.6 |
SNO |
|
CH-IU-036* |
125.70 |
126.25 |
0.55 |
26.89 |
17.2 |
CHU-FW |
|
El SILENCIO MINE |
|
U-G Drilling station ES5980 |
|
ES-EU-014* |
42.30 |
42.79 |
0.49 |
34.85 |
26.7 |
TEN |
|
ES-EU-016* |
73.56 |
73.86 |
0.30 |
7.16 |
4.1 |
SNO |
|
ES-EU-016* |
76.27 |
76.60 |
0.33 |
6.03 |
2.7 |
SNO |
|
ES-EU-016* |
168.92 |
169.24 |
0.32 |
6.39 |
11.9 |
VEM |
|
ES-EU-021* |
119.20 |
122.65 |
3.45 |
2.56 |
2.8 |
VEM |
|
including |
119.20 |
119.70 |
0.50 |
14.10 |
8.7 |
VEM |
|
ES-EU-022* |
108.56 |
109.45 |
0.89 |
9.25 |
62.5 |
VEM |
|
U-G Drilling station ES4170 |
|
ES-EU-027* |
340.52 |
346.66 |
6.14 |
8.09 |
3.8 |
VEM |
|
including |
346.36 |
346.66 |
0.30 |
128.78 |
43.7 |
VEM |
|
ES-EU-028* |
308.90 |
309.42 |
0.52 |
19.01 |
12.9 |
VEM |
|
ES-EU-029* |
350.35 |
352.35 |
2.00 |
37.39 |
52.4 |
VEM |
|
including |
350.35 |
351.30 |
0.95 |
74.46 |
109.8 |
VEM |
|
U-G Drilling station ES5240 |
|
ES-IU-130* |
99.85 |
100.40 |
0.55 |
7.72 |
1.3 |
450 |
|
ES-IU-130* |
105.70 |
106.25 |
0.55 |
9.64 |
3.8 |
450-FW |
|
ES-IU-131* |
15.86 |
16.30 |
0.44 |
23.24 |
42.8 |
NAL |
|
U-G Drilling station ES5200 |
|
ES-IU-137* |
31.34 |
32.03 |
0.69 |
9.29 |
1.6 |
SNO |
|
ES-IU-139* |
46.66 |
47.30 |
0.64 |
8.99 |
5.4 |
VPP |
|
El SILENCIO DEEP - DIRECTIONAL DRILLING |
|
U-G Drilling station ES5690 |
|
ES-MH08-04** |
919.08 |
919.74 |
0.66 |
7.01 |
10.3 |
450 |
|
ES-MH08-05** |
1110.58 |
1111.26 |
0.68 |
6.67 |
12.0 |
VEM-FW |
|
ES-MH08-06** |
911.55 |
914.03 |
2.48 |
9.23 |
8.3 |
450 |
|
including |
911.55 |
912.30 |
0.75 |
28.20 |
24.7 |
450 |
|
ES-MH08-07** |
1075.35 |
1075.97 |
0.62 |
6.37 |
5.3 |
VEM |
|
ES-MH08-08** |
1044.45 |
1046.06 |
1.61 |
7.40 |
19.4 |
VEM |
|
including |
1044.45 |
1045.00 |
0.55 |
14.67 |
3.1 |
VEM |
|
ES-MH08-09** |
719.91 |
720.34 |
0.43 |
6.13 |
6.9 |
SNO |
|
ES-MH08-09** |
853.16 |
855.75 |
2.59 |
10.71 |
4.3 |
450 |
|
including |
853.93 |
854.79 |
0.86 |
26.55 |
7.7 |
450 |
|
ES-MH08-10** |
1033.71 |
1036.94 |
3.23 |
15.99 |
5.9 |
VEM |
|
including |
1035.48 |
1036.22 |
0.74 |
66.87 |
12.9 |
VEM |
|
ES-MH08-11** |
875.40 |
876.30 |
0.90 |
14.55 |
0.7 |
450 |
|
PROVIDENCIA MINE |
|
Surface Drilling station PV6800 |
|
PV-ES-011 |
189.08 |
189.59 |
0.51 |
8.41 |
35.2 |
SNO |
|
PV-ES-011 |
321.20 |
321.54 |
0.34 |
30.82 |
4.2 |
SNO |
|
PV-ES-016 |
234.37 |
235.37 |
1.00 |
5.62 |
0.3 |
SNO |
|
including |
234.37 |
234.88 |
0.51 |
11.00 |
0.5 |
SNO |
|
U-G Drilling station PV5630 |
|
PV-EU-032* |
83.88 |
84.27 |
0.39 |
16.55 |
9.6 |
SNO |
|
U-G Drilling station PV6115 |
|
PV-IU-286* |
65.90 |
66.36 |
0.46 |
53.66 |
26.1 |
PRO-FW |
|
PV-IU-288A* |
87.41 |
96.65 |
9.24 |
0.85 |
7.0 |
PRO |
|
including |
95.85 |
96.65 |
0.80 |
6.09 |
5.0 |
PRO |
|
CARLA MINE |
|
Surface Drilling station CA4840 |
|
CA-ES-023C |
160.35 |
163.42 |
3.07 |
4.48 |
3.9 |
LGC-HW |
|
including |
161.94 |
162.33 |
0.39 |
25.46 |
24.6 |
LGC-HW |
|
CA-ES-024 |
209.86 |
210.17 |
0.31 |
12.60 |
13.8 |
SNO |
|
CA-ES-027 |
184.54 |
186.12 |
1.58 |
3.89 |
9.6 |
LGC |
|
including |
185.34 |
186.12 |
0.78 |
6.50 |
17.8 |
LGC |
Brownfield Drill Program
|
VERA VEIN |
|
Hole |
From |
To |
Width |
Au (ppm) |
Ag (ppm) |
AuEq (ppm) |
Vein |
|
Surface Drilling station
VER5220 |
|
VER-ES-016 |
258.92 |
259.59 |
0.67 |
1.31 |
334.0 |
5.76 |
LLV |
|
VER-ES-017 |
252.54 |
252.96 |
0.46 |
1.83 |
432.3 |
7.59 |
LLV |
|
VER-ES-018 |
252.65 |
252.95 |
0.30 |
4.96 |
91.50 |
6.18 |
LLV |
|
Surface Drilling station
VER5560 |
|
VER-ES-022 |
78.75 |
79.28 |
0.53 |
1.83 |
273.7 |
5.48 |
LLV |
|
VER-ES-025 |
93.70 |
94.30 |
0.60 |
1.25 |
320.0 |
5.52 |
LLV |
|
MARMAJITO VEIN |
|
U-G Drilling station PV5630 |
|
Hole |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
Ag (g/t) |
Vein |
|
MAR-EU-007* |
167.41 |
168.34 |
0.93 |
15.25 |
5.9 |
MAR |
|
including |
167.80 |
168.34 |
0.54 |
17.39 |
4.4 |
MAR |
|
MAR-EU-008* |
229.00 |
229.45 |
0.45 |
6.35 |
5.7 |
MAR |
|
MAR-EU-008* |
252.40 |
252.94 |
0.54 |
22.56 |
21.8 |
MAR-FW |
|
MANZANILLO VEIN |
|
U-G Drilling station ES5225 |
|
MAN-EU-001* |
227.24 |
227.87 |
0.63 |
41.22 |
58.2 |
MAN |
|
MAN-EU-001* |
352.25 |
353.00 |
0.75 |
9.17 |
11.0 |
SON |
|
MAN-EU-002* |
276.35 |
276.84 |
0.49 |
9.14 |
6.8 |
MAN |
|
LA GUARIDA VEIN |
|
Surface Drilling station
CR6640 |
|
CR-ES-013 |
72.62 |
73.46 |
0.84 |
3.69 |
19.2 |
LG |
|
including |
73.16 |
73.46 |
0.30 |
9.82 |
52.2 |
LG |
|
Surface Drilling station
CR6700 |
|
CR-ES-014 |
202.06 |
203.00 |
0.94 |
28.29 |
16.0 |
LG |
|
including |
202.06 |
202.46 |
0.40 |
62.34 |
37.3 |
LG |
* Denotes underground drill holes. The
underground infill holes were drilled at 54 to -86 degrees from the
horizontal. Sample interval grades over 6.0 g/t Au are reported.
Grades are for quartz vein intersections and are length-weighted
composites. The width is the sample length and is not necessarily
the true width of the vein. All gold and silver grades are uncut
and are not diluted to a minimum mining width. Au-equivalent grade
(AuEq) calculated using a Au:Ag price ratio of 75:1 with 100%
recovery.
** Denotes directional drilling mother and
kick-off holes. The directional drilling kick-off holes were
drilled at -35 to -62 degrees from the horizontal. Sample interval
grades over 6.0 g/t Au are reported.
Vein name abbreviations: SKT: Sandra K Techo
Vein. SKT-FW: Sandra K Techo Footwall Vein. 6640: 6640 Vein.
CHU-FW: Chumeca Footwall Vein. VEM: Manto Vein. VEM-FW: Manto
Footwall Vein. 450: 450 Vein. 450-FW: 450 Footwall Vein. NAL:
Nacional Vein. TEN: Tensional Vein. VPP: Principal Vein. PRO-FW:
Providencia Footwall Vein. LGC: La Gran Colombia Vein. LGC-FW: La
Gran Colombia Footwall Vein. LLV: Lluvia Vein. MAR: Marmajito Vein.
MAR-FW: Marmajito Footwall Vein. MAN: Manzanillo Vein, MAN- FW,
Manzanillo Footwall Vein. LG: La Guarida Vein. SNO: unnamed
vein.
Results from in-mine exploration and infill
drilling are reported for 87 holes (13,742 m) including: 18 holes
(3,270 m) at Sandra K (SK-IU-174, SK-IU-179 to SK-IU-194) of which
one was lost; 7 holes (946 m) at Chumeca (CH-IU-033 to CH-IU-038)
of which one was lost; 33 holes (6,034 m) at El Silencio (ES-IU-126
to ES-IU-140 and ES-EU-014 to ES -EU-030) of which two were lost;
and 29 holes (3,492 m) at Providencia (PV-IU-286 to PV-IU-303 and
PV-EU-025 to PV-EU-033) of which one was lost. There are no results
above cut-off grade for 4 holes at Sandra K, 5 holes at Chumeca, 21
holes at El Silencio and 26 holes at Providencia, so these holes
are not listed in the table.
Results from near-mine surface exploration
drilling are reported for 43 holes (16,972 m) including: 23 holes
(10,588 m) at Sandra K (SK-ES-004A, SK-ES-006 to SK-ES-023) of
which one was lost; 6 holes (2,876 m) at Providencia (PV-ES-011 to
PV-ES-016); and 14 holes (3,508 m) at Carla (CA-ES-022 to
CA-ES-032) of which three were lost. There are no results above
cut-off grade for 12 holes at Sandra K, 5 holes at Providencia and
11 holes at Carla, so these holes are not listed in the table.
Results from brownfield exploration drilling are
reported for 28 holes (6,946 m) including: 11 holes (2,985 m) at
Vera (VER-ES-015 to VER-ES-025); 6 holes (1,441 m) at Marmajito
(MAR-EU-007 to MAR-EU-012); 3 holes (1,116 m) at Manzanillo
(MAN-EU-001 to MAN-EU-003); and 8 holes (1,404 m) at La Guarida
(CR-ES-009 to CR-ES-015) of which one was lost. There are no
results above cut-off grade for 6 holes at Vera, 4 holes at
Marmajito, 1 hole at Manzanillo and 6 holes at La Guarida, so these
are not listed in the table.
Results from directional drilling from one
purpose-built station at El Silencio are reported from 8 kick-off
holes (ES-MH08-04 to ES-MH08-11), totaling 4,509 m, all drilled on
the southern ore-shoot.
Please refer also to the attached illustrative
maps showing the Sandra K-Chumeca, El Silencio-Manzanillo,
Providencia-Marmajito, Carla, Vera and La Guarida drilling
programs.
Qualified Person
Dr. Stewart D. Redwood, PhD, FIMMM, FGS, Senior
Consulting Geologist to the Company, is a qualified person as
defined by National Instrument 43-101 – Standards of Disclosure or
Mineral Projects and prepared or reviewed the preparation of the
scientific and technical information in this press release.
Verification included a review of the quality assurance and quality
control samples, and review of the applicable assay databases and
assay certificates.
Quality Assurance and Quality
Control
The Segovia samples were prepared and assayed by
SGS Laboratories Ltd (ISO 9001:2008) at their laboratory in
Medellin. Gold was assayed by 30 g fire assay with atomic
absorption spectrophotometer (“AAS”) finish. Samples above the
upper detection limit of 10.0 g/t gold were re-assayed by 30 g fire
assay with gravimetric finish. Silver was assayed by aqua regia
digestion and AAS finish. Silver samples above 500 g/t were
re-assayed by nitric and hydrochloric acid digestion with AAS
finish for ore grades and the highest in grade double-checked by
SGS Laboratories Ltd. in Lima, Peru. Blank, standard and duplicate
samples were routinely inserted and monitored for quality assurance
and quality control.
About GCM Mining Corp.
GCM Mining 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. GCM Mining also owns
approximately 44% of Aris Gold Corporation (TSX: ARIS) (Colombia –
Marmato), an approximately 27% equity interest in Denarius Silver
Corp. (TSX-V: DSLV) (Spain – Lomero-Poyatos; Colombia – Guia
Antigua and Zancudo) and an approximately 26% equity interest in
Western Atlas Resources Inc. (TSX-V: WA) (Nunavut –
Meadowbank).
Additional information on GCM Mining can be
found on its website at www.gcm-mining.com and by reviewing its
profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking
Information
This news release contains "forward-looking
information", which may include, but is not limited to, statements
with respect to anticipated business plans or strategies, including
exploration programs and mineral resources and reserves. Often, but
not always, forward-looking statements can be identified by the use
of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes" or variations (including negative variations) of such
words and phrases, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of GCM Mining to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Factors
that could cause actual results to differ materially from those
anticipated in these forward-looking statements are described under
the caption "Risk Factors" in the Company's Annual Information Form
dated as of March 31, 2021 which is available for view on SEDAR at
www.sedar.com. Forward-looking statements contained herein are made
as of the date of this press release and GCM Mining disclaims,
other than as required by law, any obligation to update any
forward-looking statements whether as a result of new information,
results, future events, circumstances, or if management's estimates
or opinions should change, or otherwise. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements.
For Further Information,
Contact:Mike DaviesChief Financial Officer(416)
360-4653investorrelations@gcm-mining.com
Attachment 1 – Sandra K
Mine Infill and Exploration Drilling Grade Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/3e707827-23db-41e5-8c44-d8a15ed40c9f
Attachment 2 – Cross section of the
Sandra K Vein System
https://www.globenewswire.com/NewsRoom/AttachmentNg/25830ffe-d1c5-43bc-b464-9498aa7f57ab
Attachment 3 – Chumeca
Infill Drilling Grade Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/df648621-5f8c-4cf8-b776-0f932308e8b1
Attachment 4 – El
Silencio Mine (northern side) Infill and Exploration Drilling Grade
Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/29b6bc5b-6eba-4310-82a1-212d15c5156c
Attachment 5 – El
Silencio Mine (southern side) Infill and Exploration Drilling Grade
Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/d2d0ba3f-6766-4eda-80e5-252dc9c4c949
Attachment 6 – Cross section of the El
Silencio Deep Vein System
https://www.globenewswire.com/NewsRoom/AttachmentNg/455525da-a034-460f-b122-ccd71b828674
Attachment 7 – El
Silencio Mine Exploration Drilling Grade Intercepts for the
Manzanillo Vein
https://www.globenewswire.com/NewsRoom/AttachmentNg/66880afd-115a-4610-9f0c-9a0e6d5c8112
Attachment 8 –
Providencia Mine Infill Drilling Grade
Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/5758fcc1-9156-459b-b939-1d9ad187d99f
Attachment 9 – Providencia Mine Exploration Drilling
Grade Intercepts for the Marmajito Vein
https://www.globenewswire.com/NewsRoom/AttachmentNg/e6d58901-843a-4186-a0f7-29597232f480
Attachment 10 – Cross section of the Providencia and
Marmajito vein systems
https://www.globenewswire.com/NewsRoom/AttachmentNg/0551ed30-a54d-4037-a395-bdffcb720604
Attachment 11 – Carla Mine Infill
Drilling Grade Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/f42c0ed1-60cc-4ea1-ba7c-d969602cb3c9
Attachment 12 – Vera Vein Infill
Drilling Grade Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/77495eae-03e0-4086-9c3a-032fd51e12db
Attachment 13 – La Guarida
Vein Exploration Drilling Grade
Intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/adf47e6f-246b-4487-9fc7-16bd1c17e3af
GCM Mining (TSX:GCM)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
GCM Mining (TSX:GCM)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
