GCM Mining Corp. announced multiple high-grade intercepts from the latest 32 diamond drill holes, totaling 8,299 meters, from the 2022 in-mine and near-mine drilling programs, as well as a further 28 diamond drill holes, totaling 7,735 meters, from the 2022 brownfield drilling programs at its Segovia Operations, Colombia. The Company also announced the assay results from one additional kick-off diamond drill hole, totaling 748 meters, from the ongoing directional drilling program on the El Silencio Deep Zone. Significant high-grade intercepts from the latest drill results include: In-mine Sandra K: 146.33 g/t Au and 712.0 g/t Ag over 0.30 meters on the Sandra K Techo Vein (SK-ES-035);
El Silencio: 271.16 g/t Au and 142.9 g/t Ag over 0.88 meters on the 450 Vein (ES-EU-047); and, El Silencio: 78.09 g/t Au and 20.0 g/t Ag over 1.29 meters on the Nacional Vein (ES-EU-48) Brownfield Marmajito: 23.55 g/t Au and 22.0 Ag over 0.60 meters on the Marmajito Vein (MAR-EU-018); Vera: 8.81 g/t Au and 479.9 g/t Ag over 0.54 meters on a SNO Vein (VER-ES-032A); and, La Guarida-Cristales Vein System: 48.45 g/t Au and 34.2 g/t Ag on the Cristales Vein over 0.47 meters (CR-ES-047A). GCM Mining currently has a total of 10 diamond drill rigs in operation at Segovia distributed as follows: In-mine and near-mine drilling - Two rigs are carrying out step-out drilling at the Sandra K Mine from two purpose-built surface platforms; and, Four rigs are carrying out resource definition on the El Silencio Deep Zone from one purpose-built underground drill station in the El Silencio Mine to test the 450 and Manto veins from the Lejanias sector, and two additional purpose-built underground drill stations on Levels 11 and 17 of the Providencia Mine to test the Nacional Vein. The fourth rig is conducting directional in-fill drilling on the southern ore-shoot below Level 38A from a purpose-built underground drill station on Level 3 of the Sandra K Mine; One rig is carrying out resource definition at the Carla Mine from a purpose-built underground station off Level 3 to guide the mine development. Brownfield drilling: Two rigs are operating from surface on the La Guarida-Cristales Vein System; and One rig is operating from surface on the Manzanillo Vein. Results from brownfield exploration drilling are reported for 28 holes (7,735 m) including: 5 holes (1,326 m)
at Vera (VER-ES-029 to VER-ES-032A) of which one was lost; 4 holes (1,298 m) at Marmajito (MAR-EU-
016 to MAR-EU-019) and 19 holes (5,111 m) on the La Guarida-Cristales Vein System (CR-ES-031B and
CR-ES-034 to CR-ES-048) of which three were lost. There are no results above cut-off grade for 3 holes
at Vera, 2 holes at Marmajito and 11 holes on La Guarida-Cristales Vein System.
Qualified Person:
Dr. Stewart D. Redwood, PhD, FIMMM, FGS, Senior Consulting Geologist to the Company, is a qualified
person as defined by National Instrument 43-101 - Standards of Disclosure or Mineral Projects and
prepared or reviewed the preparation of the scientific and technical information in this press release.
Verification included a review of the quality assurance and quality control samples, and review of the
applicable assay databases and assay certificates.
Quality Assurance and Quality Control: The Segovia samples were prepared and assayed by SGS Laboratories Ltd. (ISO 9001:2008) at their
laboratory in Medellin. Gold was assayed by 30 g fire assay with atomic absorption spectrophotometer
("AAS") finish. Samples above the upper detection limit of 10.0 g/t gold were re-assayed by 30 g fire assay
with gravimetric finish. Silver was assayed by aqua regia digestion and AAS finish. Silver samples above
500 g/t were re-assayed by nitric and hydrochloric acid digestion with AAS finish for ore grades and the
highest in grade were double-checked by SGS Laboratories Ltd. in Lima, Peru. Blank, standard and
duplicate samples were routinely inserted and monitored for quality assurance and quality control.