Name: Segovia Operations.

Location: Segovia-Remedios mining district of Antioquia 180 km north-east of Medellin, in Colombia.

Mine Owner/s: Gran Colombia Gold Corp.

Brief Description: Segovia is a gold mining complex current producing from three underground mines – Providencia, El Silencio and Sandra K.

The Carla project is a development stage project located about 10 km southeast of Segovia.

Brief History: Initial exploration activity started in 1560, in the town of Remedios, but activity was limited owing to the location and difficult terrain to access mineable areas.

By the mid-eighteenth century, mining activity was almost abandoned. A second phase of gold mining began following independence and an influx of investment from the UK.

Mining in the district began in earnest in about the early 1850s. Historic production from 1869 to 2010, contained more than 4.6-million ounces of gold.

Since taking control of the assets in 2010, Gran Colombia has initiated an extensive exploration and drilling programme around the existing mines to identify new resources to be able to expand production and has started exploration in new areas of its concessions to identify potential new production areas.

Primary Metals/Minerals: Gold.

Secondary Metals/Minerals: Not stated.

Geology/Mineralisation: According to a recent technical report on the project, gold mineralisation occurs in mesothermal quartz‐sulphidic veins hosted by granodiorites of the Segovia batholith. The well-known, partially exploited veins dip at about 30° to the east or north-east. There are also several steeply dipping quartz veins with a north- to 40° west-trend in the western part of the concession, known as the Las Verticales veins.

The modelled vein at Providencia is geologically continuous along strike for about 2 km and has a confirmed down dip extent that ranges from 690 m to more than 1.3 km, and an average thickness of 0.9 m, reaching more than 5 m in areas of significant swelling and less than 0.1 m where the vein pinches.

Locally, the Providencia vein displays significant disruption by faulting, pinch and swell structures, fault brecciation and fault gouge.

Reserves: Total proven and probable reserves as at December31, 2020, were estimated at 2.2-million tonnes grading 8.96 g/t of gold.

Resources: Total measured and indicated resources measured in the pillars at the Segovia Operations as at December 31, 2020, were estimated at 1.69-million tonnes grading 11.4 g/t of gold. Total measured and indicated long-term resource material resources at the Segovia Operations as at December 31, 2020, were estimated 2.15-million tonnes grading 11.3 g/t of gold.

Inferred resources in the pillars, as at December 31, 2020, were estimated at 796 000 t grading 15.8 g/t gold, while long-term resource material was estimated at 2.61-million tonnes grading 8.6 g/t gold.

Mining Method: Underground.

Major Infrastructure and Equipment: Ore is processed through the 1 500 t/d Maria Dama process plant using a process flowsheet that includes crushing, grinding, gravity concentration, gold flotation, concentrate regrinding, concentrate cyanidation, Merrill-Crowe zinc precipitation and refining of the zinc precipitate and gravity concentrate to produce a final gold/silver doré product.

Prospects: Gran Colombia is in the middle of an extensive modernisation programme at Segovia’s historical mines to introduce mechanisation, to improve production efficiency and safety, and to reduce its all-in sustaining costs.

Contact Details:
Gran Colombia Gold Corp
Tel +57 4 448 5220
Email  investorrelations@grancolombiagold.com
Website http://www.grancolombiagold.com/