Welcome!

News Feed Item

Columbus Gold Announces Additional Drilling Results from Montagne d'Or Including 6.49 g/t Gold over 12.8 Meters

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/29/14 -- Columbus Gold Corporation (TSX VENTURE: CGT) ("Columbus Gold") reports on the progress of the Phase II diamond drilling campaign currently underway at its Montagne d'Or gold deposit, Paul Isnard Project, French Guiana.

Fifty-six (56) drill holes (106 to 161) have been completed, for a total of 7,340 metres, as part as of a 26,600 metre (135 holes) drilling program. In addition, six (6) large diameter HQ-calibre core holes (1,000 m) were completed for detailed metallurgical testing as part of a preliminary economic assessment study (PEA). A second track-mounted diamond drill rig has been shipped from Canada and is now expected to arrive on site in early June with the aim of completing the Phase II program in September.

The holes drilled to date in the current program are short holes at the northern base of the Montagne d'Or deposit, designed to test the near surface projection of the secondary Lower Favorable Zone ("LFZ") and Footwall Zone ("FWZ"). Some of the holes were collared into the principal Upper Felsic Zone ("UFZ") to reach the LFZ. All holes intersected sulphide-gold mineralised intervals.

Gold assay results were previously released for 36 holes (106 to 141) and results have been received for an additional 15 holes (142 to 156). Notable intersections received in the 15 holes include:

                                                            (True Width -
Drill Hole Intercept         Grade           Length         "TW")

MO-14-149  42.5 to 82.0 m    1.85 g/t gold   over 39.5 m    (29.2 m TW)
incl.      76.9 to 82.0 m    9.02 g/t gold   over 5.1 m     (3.8 m TW)
MO-14-150  16.0 to 61.6 m    1.38 g/t gold   over 45.6 m    (34.9 m TW)
incl.      54.0 to 60.6 m    4.73 g/t gold   over 6.6 m     (5.1 m TW)
MO-14-151  54.7 to 99.2 m    0.99 g/t gold   over 44.5 m    (34.2 m TW)
MO-14-154  138.2 to 151.0 m  6.49 g/t gold   over 12.8 m    (9.6 m TW)
MO-14-155  159.3 to 169.0 m  3.69 g/t gold   over 9.7 m     (7.5 m TW)
MO-14-156  99.1 to 104.9 m   4.61 g/t gold   over 5.8 m     (4.3 m TW)

Highlights of the new results include:

--  The intersections in holes 149 to 151 and 154 to 156 are located within
    a newly defined well-mineralised section of the LFZ defined at shallow
    depths between sections 2930E to 2400E, covering a strike extent of 530
    metres. The LFZ remains untested to the west of section 2400E;
--  The intersection in hole MO-14-154 (6.49 g/t Au over 12.8 m) represents
    the best result obtained to date from the LFZ.

A drill plan and full assay results are available at the following links:

www.columbusgoldcorp.com/i/nr/2014-05-29-drillplan.pdf

www.columbusgoldcorp.com/i/nr/2014-05-29-assays.pdf

The drilling is being funded by Nord Gold N.V. (LSE: NORD LI) as part of a 3 year minimum US$30 million exploration and development program pursuant to which they can earn a 50.01% interest in Montagne d'Or and certain Paul Isnard mineral claims, by completing a bankable feasibility study.

The Montagne d'Or gold mineralised area is presently defined over a 2,250 meters by 400 meters area and to an average depth of 250 meters from surface. The mineralised zones remain open in part along strike and at depth. An updated NI 43-101 compliant resource estimation is being conducted by Coffey Mining Pty Ltd and is anticipated to be announced during the month of June. The updated estimation will include results received from the current Phase II drilling campaign as of May 24th, 2014.

The objectives of the Phase II drilling program are to:

--  Complete a 50-meter spacing array to a vertical depth of 200 meters from
    surface, and select 25-meter in-fill, focused on mineralisation
    potentially amenable to open pit mining;
--  Internally increase current mineralized tonnage;
--  Increase confidence in the gold grade-width distribution;
--  Convert inferred resources to the indicated category in accordance with
    NI 43-101 standards;
--  Acquire a better distribution of copper assays for added value to the
    deposit.

Qualified Person, Technical Info and QA/QC

Diamond drill holes were bored with HQ-size core in the upper oxidized saprolitic zone and NQ-size core in fresh rock. The core was placed in plastic core boxes with covers and delivered by the drilling contractor, Performax Drilling Inc., a Canadian company with qualified personnel, to the Citron camp logging facilities, located 5 km from Montagne d'Or. Columbus Gold personnel are present at the camp at all times during the drilling program.

The core was photographed for reference, logged (geotechnical and geological) and identified sulphide mineralised sections were sawed in half. Sample lengths vary between 0.5 to 1.5 metres. Individual half core samples were placed in canvas bags and sealed by batch of 9 samples in polypropylene bags for air transport to the Cayenne and trucking to Filab Amsud laboratory in Paramaribo, Suriname, an ISO 9001 and ISO / IEC 17025 accredited laboratory. The remaining half core is stored in core racks on site at Citron camp for reference. Samples were assayed for gold by fire-assay method using an atomic absorption finish on a 50-gram pulp split.

A quality assurance and quality control program (QA/QC) was implemented by Columbus Gold and Filab Amsud to insure the accuracy and reproducibility of the analytical method and results are maintained. The QA/QC program includes the insertion of standards, blanks and field duplicates in each laboratory assay batch and systematic re-assaying of samples returning values above 5 g/t Au by the fire-assay method using a gravimetric finish on a 50-gram pulp split. As well, 10% of random sample pulps are sent to SGS del Peru S.A.C. laboratory for gold check assaying.

The drilling program is being conducted under the supervision of Rock Lefrancois, P.Geo. (OGQ), Chief Operating Officer for Columbus Gold and Qualified Person under National Instrument 43-101. Mr. Lefrancois, the Qualified Person, has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed.

ON BEHALF OF THE BOARD,

Robert F. Giustra
Chairman & CEO

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.

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 Columbus Gold's: proposed drilling programs; projected funding of drilling programs by Nord Gold N.V. pursuant to the terms of the option agreement and the related completion of a bankable feasibility study and 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: 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; risks associated with Nord Gold N.V. electing not to exercise its option and make the related option payments; 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: that the design of the drill plan is appropriate for the site; 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, optionees 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.

Contacts:
Investor Relations
604-634-0970 or 1-888-818-1364
[email protected]

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
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"The reason Tier 1 companies are coming to us is we're able to narrow the gap where custom applications need to be built. They provide a lot of services, like IBM has Watson, and they provide a lot of hardware but how do you bring it all together? Bringing it all together they have to build custom applications and that's the niche that we are able to help them with," explained Peter Jung, Product Leader at Pulzze Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2,...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...