Gran Colombia announces an 18 percent increase to 11.8 million ounces of gold and a 26 percent increase to 80.3 million ounces of silver in the Measured and Indicated categories at its Marmato Operations

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, June 21, 2012 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM) is\n pleased to report a new Mineral Resource Estimate, prepared by SRK\n Consulting (UK) Ltd., for its Marmato Operations located in Colombia,\n containing 11.8 million ounces of gold in the Measured and Indicated\n categories and an additional 2.6 million ounces of gold in the Inferred\n category at a cut-off grade of 0.3 g/t gold and 80.3 million ounces of\n silver in the Measured and Indicated categories and an additional 9.4\n million ounces of silver in the Inferred category (see table below). \n This mineral resource represents an 18% increase in Measured and\n Indicated gold ounces and a 26% increase in Measured and Indicated\n silver ounces compared to the previous mineral resource estimate, for\n the Marmato Operations dated September 4, 2011.\n\n\nMaria Consuelo Araujo, Chief Executive Officer of Gran Colombia Gold,\n commented: \"Our exploration activities continue to show upside to this\n flagship project at Marmato, which currently ranks in the top two\n percent of projects by gold resources globally. We expect further\n upside from our recently reported deep zone mineralization, as this\n current estimate shows the potential increase in resource and grades at\n depth, but further drilling will be required to further define the deep\n zone Mineral Resource.\"\n\n\n \n\n\nOre\n\n\nGold\n\n\nSilver\n\n\n \n\n\nTonnes\n(million)\n\n\nGrade\n(g/t)\n\n\nOunces\n(x1,000)\n\n\nGrade\n(g/t)\n\n\nOunces\n(x1,000)\n\n\nMeasured\n\n\n51.1\n\n\n1.05\n\n\n1,725\n\n\n4.87\n\n\n8,011\n\n\nIndicated\n\n\n358.5\n\n\n0.87\n\n\n10,064\n\n\n6.27\n\n\n72,319\n\n\n   Measured & Indicated\n\n\n409.7\n\n\n0.90\n\n\n11,789\n\n\n6.10\n\n\n80,330\n\n\nInferred\n\n\n79.1\n\n\n1.02\n\n\n2,588\n\n\n3.71\n\n\n9,429\n\n\n* Mineral resources are not mineral reserves and do not have\n demonstrated economic viability. All figures are rounded to reflect the\n relative accuracy of the estimate. All composites have been capped\n where appropriate.  Mineral resources are reported at a cut-off grade\n of 0.3 g/t and based on a price of US$1,400 per ounce of gold with gold\n recoveries of 88 percent and without considering revenues from other\n metal.\n\n\nIn addition to the above \"in-pit\" mineral resource, SRK has also\n identified a mineral...

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