Gran Colombia announces a significant reduction in All-In Sustaining Costs in Phase II to approximately $1,200 per ounce and a substantial increase in the high grade measured and indicated resources at its producing Segovia Operations

About this update from Aris Mining Corp

[{"type":"text","content":"\n\n\nTORONTO, Aug. 1, 2013 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM, OTC:\n TPRFF) is pleased to provide a business update and to report a new\n mineral resource estimate for its producing Segovia Operations located\n in Antioquia, Colombia.  All financial figures contained herein are\n expressed in U.S. dollars unless otherwise noted.\n\n\nThe company expects to report its full financial and operating results\n for the second quarter of 2013 after market close on August 14, 2013.\n Investors will have an opportunity to discuss results with management\n in a webcast on August 15, 2013.  Details for the webcast will be\n announced by August 8, 2013.\n\n\nHighlights:\n\n\n\nContinued positive results from the company's ongoing initiatives to cut\n costs and reduce spending resulted in a $267 per ounce decrease in\n all-in sustaining costs1 to $1,278 per ounce in the second quarter of 2013 from $1,545 per ounce\n in the first quarter of 2013. Actions initiated in the second quarter\n have since reduced all-in sustaining costs in July to approximately\n $1,200 per ounce.\n\n\n\n\nRecord gold production of 21,891 ounces at its Segovia Operations in the\n second quarter of 2013, an increase of 15 percent compared to the first\n quarter of 2013. Total gold production increased by 12 percent to\n 27,151 ounces for the second quarter of 2013 bringing the first half\n 2013 total gold production to 51,501 ounces. The company also produced\n 73,641 ounces of silver in the first half of 2013.\n\n\n\n\nThe recently completed mineral resource update at the company's Segovia\n Operations delivers on the company's stated objective of upgrading\n resources to support the initial mining phase in the Pampa Verde\n Project with a 58 percent increase in the Measured and Indicated\n categories to 461,000 ounces of gold with an average grade of 15.2\n grams per tonne (g/t). The mineral resource update also includes an\n additional 1,443,000 ounces of gold with an average grade of 11.0 g/t\n in the Inferred category (refer to table below for details).\n\n\n\n\nThe Pampa Verde Project, which will deliver mechanized, low-cost mining\n and processing operations to the company's Segovia Operations, remains\n on schedule with construction activities set to begin in August.\n\n\n\n\n\n\nCommenting on the recent results, Serafino Iacono, Executive...

More updates from Aris Mining Corp