Welcome!

News Feed Item

Columbus Gold Drills 53 Metres of 4.37 gpt Gold at Paul Isnard, French Guiana; Completes Phase I Drill Program

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/22/12 -- Columbus Gold Corporation (TSX VENTURE:CGT) ("Columbus Gold") is pleased to announce completion of its Phase I drill program and results of an additional thirty one diamond core holes, MO 12-74 to 98 and 100 to 105 totaling 10,873.65 metres, at its Paul Isnard gold project in French Guiana. The holes were laid-out to confirm and expand, internally, along strike and at depth, the Montagne d'Or gold deposit within which earlier widely spaced holes had outlined a 43-101 compliant inferred resource of 1.9 million ounces gold within 36 million tonnes grading 1.6 gpt gold.

Except for two short holes drilled south into the hangwall of the known mineralization all holes from the current program contain significant gold intercepts, generally consistent with earlier results, within the principal Upper Felsic (UFZ) and Lower Favorable (LFZ) mineral zones defined by the original work. Of particular note are DH MO 12-92 with 53 metres grading 4.37 gpt gold (3.86 gpt cut to 31.1 gpt) within 113 metres averaging 2.43 gpt gold (2.17 cut) in UFZ and DH MO 12-78 with 29 metres grading 2.51 gpt gold in LFZ.

The completed Phase I drill program at Paul Isnard consisted of 45 core holes totaling 15,824 metres. Results are pending for the final hole of the program which is a step-out located 150 metres west of the existing drill pattern and resource area. Columbus Gold is reviewing and interpreting full drill results in preparation for implementation of a planned Phase II program, for a further +/-15,000 metres, designed to further expand the Montagne d'Or gold deposit and convert inferred resources to an indicated category.

A summary of the principal mineralized intervals from the 45 hole Phase I program can be viewed at the following link:

www.columbusgoldcorp.com/i/nr/2012-11-22-table.pdf

The Montagne d'Or gold deposit at Paul Isnard is an east-west striking, south dipping, tabular body made up of two sub-parallel zones of gold mineralization, designated Upper Felsic Zone (UFZ) and Lower Favorable Zone (LFZ), hosted by laminated felsic volcanics within a Pre-Cambrian greenstone sequence. Prior to Columbus Gold's involvement the deposit was partially outlined by 54 holes, totaling 10,600 metres, in the late 1990's. Based upon that past drilling, the deposit contains a 43-101 inferred gold resource of 1.9 million ounces within 36 million tonnes grading 1.6 gpt gold (0.4 gpt cut-off) within a mineralized zone about 2,000 metres long, averaging about 70 metres thick and tested to variable depths of between 100-150 metres.

The deposit is open at depth, internally between widely spaced holes and, in part, along strike. Future drill programs will target potential extensions of the deposit indicated by untested geochemical anomalies extending more than three kilometres along strike incompletely tested parallel zones of gold mineralization, and other untested or incompletely tested gold prospects and geochemical anomalies throughout the large Paul Isnard property.

Columbus Gold's independent consultant and Qualified Person, John Prochnau (P. Geo), B.Sc. (Mining Engineering), M.Sc. (Geology), has reviewed and approved the technical content of this news release.

About Columbus Gold

Columbus Gold is a gold exploration and development company operating in French Guiana and Nevada. In French Guiana, Columbus Gold controls a 100% interest in the Paul Isnard gold project, which hosts a 43-101 compliant 1.9 million ounce inferred gold resource with substantial expansion potential. In Nevada, Columbus is a prolific project generator focused on advancing projects either through earn-in agreements to industry partners or on its own where exploration risk is minimized and potential is particularly promising. Columbus Gold's President, Andy Wallace has a long and successful history of gold discovery and mine development. Columbus currently has 11 of its 24 strategically located gold projects in Nevada farmed-out to various mining companies.

ON BEHALF OF THE BOARD,

Robert F. Giustra, Chairman & CEO

Forward-Looking Statements

This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting drilling, and Columbus Gold's general exploration plans. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation, the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers and drill equipment; competition for mining properties; risks associated with exploration projects, mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: the design of the drill plan; general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies including without limitation drill rigs; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive and Columbus Gold undertakes no obligation to update any of the foregoing except as required by law.

Quality Assurance/Quality Control

The technical information herein has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 by John Prochnau, an independent consultant of Columbus Gold and the Qualified Person for the Paul Isnard project (the "QP"). For additional information regarding the Paul Isnard project, please see the Technical Report on Columbus Gold's website at www.columbusgoldcorp.com. (The NI 43-101-compliant technical report on the Paul Isnard Project entitled "Updated NI 43-101 Technical Report, Paul Isnard Project, French Guiana" dated effective February 1, 2012 and updated February 21, 2012, prepared by Bart A. Stryhas C.P.G. Ph.D. of SRK Consulting (U.S.), Inc., who is independent of Columbus Gold.)

Mr. Prochnau is responsible for quality control at the Paul Isnard project and has verified the data being disclosed herein, including sampling, analytical and test data underlying the information or opinions contained in the written disclosure, in consultation with Andre Adam, a Columbus Gold geologist and the Country Manager in French Guiana. The QP personally verifies the results of the quality assurance and quality control samples. The data presented herein was verified as follows: drill assay data and the average intercepts of gold mineralization were inspected, plotted on geological log sheets, averaged manually and checked electronically to produce the drill result released. The drill hole was also plotted on the relevant cross section with existing drill holes, to confirm and validate the interpreted mineralized zones, for purposes of correlation, in the released information. All blank samples and standards were verified against existing standards, and then the blank samples and standards of the lab were verified. Each sample is one meter long, and all standards were found to be within acceptable limits. Gold values were compared with the logging of the rocks by an experienced professional geologist and to the presence of visible alteration and mineralization and percentage of sulfide in this type of mineralization (disseminated to semi-massive sulfides and occasionally massive sulfide, also visible gold), and a strong correlation between amount of sulfides and amount of gold was found. Columbus Gold uses the laboratory of FILAB Suriname with respect to the analysis of its samples, and the processing, handling, documentation, archiving and reporting procedures are in accordance with common procedures in the mining industry. Mr. Adam and other Columbus Gold geologists or technicians are on site during drilling, examining individual drill holes and observing the procedures to maintain chain of custody of the samples and the method of processing. The drill hole was completed at Montagne d'Or, logged by professional and experienced geologists, and then sawn to measurements, taken from the drill hole whose collar location has been surveyed using hand-held GPS.

The location of drill holes will be verified by an independent topographic mapping and surveying company. The drill holes have also been surveyed from top to bottom using industry-standard, down-hole surveying techniques with equipment provided by the drill contractor. The drill core is sawn in half along the length after geological logging, and samples are bagged for analysis in one meter increments. The saprolite material, a minor portion of the drill holes, is put in textile bags by meter, the rock is put in plastic bags and sealed. 10 samples are then combined for shipping in larger bags. All of the samples are sent from the drill site in plastic boxes, covered and sent 5km to the camp every day, from the camp to Cayenne by road or by air, and then FILAB transports the samples every Thursday to Paramaribo, the location of the geochemical lab. Only a few of the one meter samples exceed 31.1 g/t Au and these are cut to 31.1 g/t and reported both cut and uncut. Drill work is done by Performax, a Canadian company, by qualified workers, and drill recovery is very good, averaging 82% in the saprolite (20-30 metres in each drill hole) and 98% in the rock. The presence of faults is very rare. The samples are tested at FILAB, which is an independent laboratory working for a number of mining companies and which has no other relationship with Columbus Gold. FILAB takes samples of approximately 2kg size, which are dried, crushed totally (to a size of less than 3mm), divided, or split to 300g, which is then pulverized to less than 100 microns. The samples are fire assayed with a finish by Flame AAS. 30 grams of rock powder is used for each analysis.

Cautionary Note to U.S. Investors

This news release includes certain estimates that comply with reporting standards in Canada, in particular with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"), a rule developed by the Canadian Securities Administrators to establish standards for public disclosure concerning mineral projects. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission (the "SEC"), and resource information contained herein may not be comparable to similar information disclosed by United States companies. Certain documents disclosed Columbus Gold, including without limitation this news release, contain the term "inferred mineral resource" to comply with reporting standards in Canada. We advise United States investors that while this term is recognized and required by Canadian regulations, the SEC does not recognize it. United States investors are cautioned: (i) that the aforementioned term has a great amount of uncertainty as to its existence and as to its economic and legal feasibility; and (ii) not to assume that all or any part of the inferred resource exists. United States investors are urged to closely review the additional warnings and disclosure contained under the heading "Cautionary Note to United States Investors" in our Final Short Form Prospectus dated May 11, 2012, a copy of which may be obtained from Columbus Gold or downloaded from Columbus Gold's profile at www.SEDAR.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busin...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
In recent years, containers have taken the world by storm. Companies of all sizes and industries have realized the massive benefits of containers, such as unprecedented mobility, higher hardware utilization, and increased flexibility and agility; however, many containers today are non-persistent. Containers without persistence miss out on many benefits, and in many cases simply pass the responsibility of persistence onto other infrastructure, adding additional complexity.
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Quickly find the root cause of complex database problems slowing down your applications. Up to 88% of all application performance issues are related to the database. DPA’s unique response time analysis shows you exactly what needs fixing - in four clicks or less. Optimize performance anywhere. Database Performance Analyzer monitors on-premises, on VMware®, and in the Cloud, including Amazon® AWS and Azure™ virtual machines.
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...