TORONTO, Dec. 19, 2017 (GLOBE NEWSWIRE) -- Gran Colombia Gold Corp. (TSX:GCM) announced today that it produced a total of 15,841 ounces of gold in the month of November bringing the year-to-date total to 154,959 ounces. The trailing 12 months’ total gold production as of the end of November 2017 now stands at 169,777 ounces, up 13% over 2016’s annual gold production. With one month remaining in 2017, the Company remains on track with its recently revised production guidance for the full year of 165,000 to 170,000 ounces of gold.
The Segovia Operations produced 13,797 ounces of gold in the month of November bringing the 11-months year-to-date total to 131,729 ounces. Company-operated production at the Providencia mine continued in line with the trend this year and the Company also benefitted from additional material from contract miners under new operating contracts entered into since August under which Gran Colombia is retaining between 10% and 60% of the spot price for each ounce of gold produced. The trailing 12 months’ total gold production as of the end of November 2017 at Segovia was 144,512 ounces, up 14% over 2016’s annual gold production and within the Company’s revised production guidance range for the 2017 calendar year at Segovia of 140,000 to 145,000 ounces.
At the Marmato Operations, gold production amounted to 2,044 ounces in the month of November bringing the 11-months year-to-date total to 23,230 ounces. Marmato’s trailing 12 months’ gold production at the end of November 2017 was 25,265 ounces, up 8% over its 2016 annual production. The Company continues to expect Marmato’s annual gold production for 2017 will range between 24,000 and 26,000 ounces.
About Gran Colombia Gold Corp.
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. Gran Colombia is continuing its expansion and modernization activities at its high-grade Segovia Operations.
