Printer Friendly
The Free Library
22,719,120 articles and books

Gran Colombia Resources Inc. (The "Company") Announces Additional Results From Its Ongoing Drill Program On Its Marmato Gold Property In Colombia .

TORONTO--(BUSINESS WIRE)--April 10, 1997--Gran Colombia Resour(TSE See Tokyo Stock Exchange.


1. See Tokyo Stock Exchange (TSE).

2. See Toronto Stock Exchange (TSE).
 GRM GRM Gross Rent Multiplier
GRM Geospatial Resource Management (GIS, mapping)
GRM General Routing Matrix
GRM General Relationship Model
GRM Gregg Reference Manual
GRM Gross Refining Margin
GRM Global Request Manager
. ) A total of 14 holes have been completed during this period, amounting to 2,516 metres drilled. The additional results from this drilling not only support the potential for a large bulk mineable deposit, but have also revealed high-grade mineralization Mineralization
The process by which the body uses minerals to build bone structure.

Mentioned in: Rickets

n the bioprecipitation of an inorganic substance.
 within the area. This high-grade mineralization is associated with a highly altered shear zone occurring within an andesitic porphyry Porphyry, Greek scholar
Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus.
 and lies parallel to the contact with a second porphyritic por·phy·rit·ic   also por·phy·rit·i·cal
1. Of or containing porphyry.

2. Containing relatively large isolated crystals in a mass of fine texture.

Adj. 1.
 unit of dacitic Adj. 1. dacitic - relating to or consisting of dacite; "dacitic magma is highly viscous"  composition .

The following table presents intersections related to the high-grade mineralization, including some reported in the January news release: -0-
Hole No.     Depth    Depth   Thickness AU     Au cut
             From     To      (m)       (g/t) (70g/t)

M-6         43.00     45.70   2.70       2.14    2.14
M-7         59.73     61.60   1.87      27.76   27.76
M-14       104.50    106.75   2.25      67.72   31.62
M-15       181.60    184.60   3.00       6.64    6.64
M-22       108.00    111.00   3.00     107.69   28.89
M-23        62.60     65.41   2.81       5.17    5.17
M-24        78.60     80.75   2.15       5.33    5.33
M-26       106.00    109.74   3.74       3.65    3.65

Average                       2.70      27.77   12.78

Hole     Ag        Ag  cut         AuE            AuE
No.    (g/t)    (1400 g/t)        (g/t)     cut (g/t)

M-6    29.60       29.60            2.44         2.44
M-7  1057.30      509.70           38.34        32.86
M-14  532.00      532.00           73.04        36.94
M-15  974.00       937.0           16.38        16.01
M-22  391.40      391.40          111.03        32.23
M-23   41.10       41.10            5.58         5.58
M-24   34.72       34.72            5.67         5.67
M-26  310.80      310.80            6.76         6.76

 age  404.41      346.61           31.81       116.25


The high-grade mineralization has been intersected in two sections spaced 50m apart, 150m down plunge and over a distance of 150m horizontally. It is open in all directions. It appears that the mineralization drapes drape  
v. draped, drap·ing, drapes
1. To cover, dress, or hang with or as if with cloth in loose folds: draped the coffin with a flag; a robe that draped her figure.
 around the dome-like structure of the dacitic porphyry with peak values in the hinge hinge
A jointed or flexible device that allows the turning or pivoting of a part, such as a door or lid, on a stationary frame.


see hinge joint.
 line of the structure where a value of 306g/t over one meter was found in drill hole M-22.

The importance of this mineralized min·er·al·ize  
v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es
1. To convert to a mineral substance; petrify.

2. To transform a metal into a mineral by oxidation.

 zone is that it could further enhance the potential of the Enchandia property at Marmato, where a large open pit operation could be developed in conjunction with a bonanza Bonanza

saga of the Cartwright family. [TV: Terrace, I, 111–112]

See : Wild West
 grade underground mine.

Given the importance of the high-grade mineralized zone, future drilling will be separated into two programs: one to focus on outlining the full extent of the high grade mineralization and to better define its geological model, and the other to continue investigating the potential for a large, bulk mineable deposit.

The table below presents intersections related to the disseminated mineralization, including some of the drill holes presented in the high-grade mineralization table. -0-
Hole No.  Depth     Depth     Length    Au   Ag   AuE
          From      To         (m)   (g/t) (g/t)(g/t)

M-20      19.6      61.6     42.00  0.87   48.5  1.35
M-20      99.2    125.95     26.75  0.88   45.7  1.34
M-21     108.4       116      7.60  0.49  108.4  1.57
M-22      0.00    276.45    276.45  0.91   24.7  1.16
 ing    108.00    117.00      9.00 13.67  304.1 15.91
 ing    180.69    204.62     23.93  1.92   49.6  2.42
M-23      0.00      11.6      11.6  0.62    2.8  0.65
M-23      62.6     67.41      4.81  3.39   33.1  3.72
M-23      95.6    107.16     11.56  0.57  44.00  1.01
M-24     13.12     53.76     40.64  0.25   27.4  0.52
M-24      77.6     80.75      3.15  3.70   26.1  3.96
MU-8C   103.73    138.26     34.53  0.47   6.30  0.54
MU-10B    67       84.73     17.73  0.81   16.8  0.98
MU-10B    31.78    46.82     15.04  0.75   33.1  1.08
MU-11A    9.93     32.72     22.79  0.85   45.2  1.30
MU-13C    12.98    34.04     21.06  1.86   6.40  1.93
including 31.6     34.04      2.44  9.94   22.2 10.17


The Company believes that the Marmato project has now been developed sufficiently to justify an independent study on the results of all drilling to date, both from a geological and engineering standpoint. The study will assist the Company in establishing preliminary parameters for use in directing future development plans. Elsewhere, the Company has signed an option agreement on a new gold property in the Buritica gold district located in the western part of Antioquia Department Antioquia is one of the 32 Departments of the Republic of Colombia located in the central northwestern part of this country with a narrow section that borders the Caribbean sea however, most of its territory is mountainous with some important valleys, part of the Andes mountain , some 90 km from the town of Medellin.

The Buritica district is one of the oldest and, along with Marmato, one of the most famous gold producing districts in Colombia. The geological model of the property's mineralization consists of both vein and disseminated mineralization. Initial reconnaissance sampling has returned grades of up to 2g/t in chip samples on surface, an average of 1.5g/t over 25m in continuous channel samples inside an old adit, and grades of up to 45g/t in vein material.

A detailed sampling program is now underway over a wide zone of hydrothermal hydrothermal, hydrothermic

relating to the temperature effects of water, as in hot baths.
 alteration of almost one sq. km and systematic sampling is being carried out in the old underground workings.

The Company expects that drilling targets at Buritica will be established for follow-up by the second quarter of this year. -0- No Stock Exchange, Securities Commission Or Other Regulatory Authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest
regulatory agency

administrative body, administrative unit - a unit with administrative responsibilities
 Has Approved Or Disapproved The Information Contained Herein.

CONTACT: Gran Colombia Gran Colombia

Former South American republic (1819–30). Formerly the Viceroyalty of New Granada, it included roughly the modern nations of Colombia, Panama, Venezuela, and Ecuador.
 Resources Inc.

Mauro Coppola, 416/955-4554

416/955-1206 (FAX)


Steven A. Dawson, 416/955-4554

416/955-1206 (FAX)
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion




Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Apr 10, 1997
Previous Article:Sharp Delivers NoteVision -- Ultra Sleek, Compact, Multimedia LCD Projector for Mobile Presenters.
Next Article:GST Telecommunications and U S WEST sign interconnection agreements for Oregon and Utah.

Related Articles
Gran Columbia - Ginebra Property Drill Targets Identified & Drill Program to Commence - Marmato Land Position Consolidated & Exploration Underway.
Ginebra Drill Program Targets a Potential Multi-Million Ounce Gold Resource.
Procoloro Resources Inc. announces diamond drilling results on the Yurani property.
Procoloro Resources Inc. - Mining Exploration Results.
Gran Colombia Resources Reports Results from First 3 Drill Holes at Marmato.
Sur American Gold Corp.: Mina Rica Gold Project, Colombia - Results of Work Completed.
El Limon reserves increase three-fold.
Fischer-Watt Gold Co. announces high-grade vein extension at El Carmen.
Greystar Resources: Drilling at Angostura Gold Project.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters