Since taking control of the assets in 2010, GCM Mining has initiated an extensive exploration and drilling program around the existing mines to identify new resources to be able to expand production and has commenced exploration in new areas of its concessions to identify potential new production areas.

GCM Mining is focused on significant exploration upside at its Segovia Operations, where it is currently operating mines on only 3 of 27 known veins in the RPP-140 license. Its 2021 in-mine and brownfield drilling programs are continuing to provide the company with outstanding results, which confirm the prowess of its Segovia Operations as a world-class high-grade vein system.

Its 2021 exploration program includes approximately 60,000 meters of in-mine, near-mine and brownfield diamond drilling within its Segovia mining title:

  • 40,000 meters of in-mine and near-mine diamond drilling at the El Silencio, Providencia, Sandra K and Carla mines at a total cost of approximately US$10 million; and
  • 20,000 meters of drilling and a multi-phase fieldwork program for each of the high-priority brownfield targets at Vera (ongoing), Cristales, Marmajito and San Nicolas at a total cost of approximately US$4 million.

Segovia Exploration Update