TORONTO, Oct. 15, 2013 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM,
OTC:TPRFF) announced today that it produced a total 9,758 ounces of
gold and 13,603 ounces of silver in September 2013 from its underground
mining operations at Segovia and Marmato in Colombia. This brings total
gold production for the third quarter of 2013 to 29,186 ounces, up 8.4
percent over the third quarter last year. For the first nine months of
2013, the company produced a total of 80,687 ounces of gold and 118,087
ounces of silver, up 2.4 percent and 29.7 percent respectively, over
the same period in 2012.
Serafino Iacono, Executive Co-Chairman of Gran Colombia, commenting on
the production update, said, "We continue to take actions to reduce our
all-in sustaining costs while our Segovia expansion project continues
on target and we remain on track to meet our 2013 production guidance
of 110,000 ounces of gold."
At the company's Segovia Operations, total tonnes processed in September
at the Maria Dama plant averaged 927 tonnes per day (tpd) and head
grades averaged 8.9 grams per tonne (g/t) resulting in gold production
of 7,727 ounces. For the third quarter of 2013, the Maria Dama plant
processed an average of 910 tpd and head grades increased to an average
of 9.4 g/t. The third quarter gold production of 23,107 ounces
represented the third consecutive quarter of production growth at
Segovia and a 9.4 percent increase over the third quarter of 2012.
Segovia's year-to-date total production of 64,050 ounces of gold
represents a 2.7 percent increase over the first nine months of 2012.
Operations at the company's Marmato underground mine continued at a
steady pace in September, producing 2,031 ounces of gold. Third quarter
and year-to-date gold production at Marmato amounted to 6,079 and
16,637 ounces of gold, respectively.
About Gran Colombia Gold
Gran Colombia is a Canadian-based gold and silver exploration,
development and production company with its primary focus in Colombia.
Gran Colombia is currently the largest underground gold and silver
producer in Colombia with several underground mines in operation at its
Segovia and Marmato Operations. In addition, Gran Colombia is advancing
a project to develop a large-scale, gold and silver mine at its Marmato
Additional information on Gran Colombia Gold can be found on the
company's website at www.grancolombiagold.com and by reviewing the company's page on SEDAR at www.sedar.com.
This news release contains "forward-looking information", which may
include, but is not limited to, statements with respect to the future
financial or operating performance of the Company and its projects and,
specifically, statements concerning anticipated growth in annual gold
production and reduction of cash costs. 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 Gran Colombia 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 26,
2013 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 Gran Colombia 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
SOURCE: Gran Colombia Gold Corp.
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