Colombia
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At a glance: 5 Colombian gold projects

Bnamericas Published: Thursday, January 26, 2023
At a glance: 5 Colombian gold projects

Colombia has significant gold resources in various departments of the country and it is one of the nation's top export products.

The latest figures from national mining regulator ANM show that total gold production in Colombia reached 55.5t (1.78Moz) in 2021. In terms of value, the soft, yellow metal accounted for about 7.6% of total exports and 32.2% of all mining exports from the country.

The most important producing gold mines in Colombia include Segovia, northeast of Antioquía capital Medellín, which is owned by Aris Mining; and Buriticá, northwest of the same city, the proprietor of which is Zijin-Continental Gold Limited.

There are also various big gold projects under development, including Gramalote, just northeast of Medellín, Marmato in Caldas department and Soto Norte, close to Bucaramanga in Santander department, but there are also a number of smaller initiatives, which BNamericas takes a look at below.

ANZÁ

The Anzá project is located in the western cordillera, some 50km west of Medellín and 50km south of the Buriticá high-grade gold deposit.

The initiative, which is currently in the pre-feasibility stage, includes the objectives Aragon-Pastorera Trend Area (APTA), Charrascala and Guaimarala.

It is an open pit and underground project being developed by Orosur Mining. It is subject to an exploration agreement with a purchase option with Minera Monte Águila (MMA), which is formed by Newmont Corporation and Agnico Eagle Mines.

On January 17, Orosur announced that it and MMA were advancing with negotiations for a JV agreement that would lead the development of the initiative. The process to create the JV company has already begun and is expected to be completed in a few months' time.

Anzá is considered to be a project of strategic regional interest (Pire by the Spanish acronym) and around US$24mn has so far been invested in this hydrothermal deposit.

QUINCHÍA GOLD

Located in west-central Colombia, 100km south of Medellín in Risaralda department, Quinchía is in a district well known for its high-grade epithermal gold/silver systems.

The concession, held by the firm Los Cerros, covers 10,542ha and includes objectives such as Miraflores, Ceibal, Chuscal, Dosquebradas and Tesorito. It is an underground brownfield expansion project with production estimated at 48,000oz/y.

The required investment is expected to be US$72mn, of which the company has already invested approximately US$12mn.

Last October, Los Cerros commissioned Ausenco Pty Ltd to study alternative development scenarios.

The company has completed final drilling of a 37,000m, 80-hole diamond drill program at Quinchía.

LA MINA

This is a gold and copper porphyry deposit owned by Canadian company GoldMining and located 45km southwest of Medellín. It covers 3,200ha and comprises seven prospects, including La Cantera, Zona Media and La Garrucha. 

Assay results from the last hole of a drilling program at the La Garrucha target included 118m grading 1.01g/t gold equivalent.

YARUMALITO

Also located in Antioquia department, this initiative is held by GoldMining too.

Two primary styles of mineralization have been identified within the property: porphyry gold-copper and epithermal gold mineralization.

Nearby projects include Anglogold Ashanti's advanced-stage Nuevo Chaquiro copper-gold mine and Caldas Gold Corp's Marmato mine.

TITIRIBÍ

This project covers 3,919 hectares and is located in Titiribí municipality, 6km east of the Cauca River in Antioquia department.

It has gold and copper mineralization related to several porphyry centers with associated epithermal mineralization.

GoldMining initially proposed a work program that included a drilling program to be completed in 2022, but it was deferred due to restrictions related to the COVID-19 pandemic and was pushed back to 2023 or later as the company focuses on higher priority projects, it said in a report.

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