Drilling Commences at Columbus Gold's Browns Canyon Gold Project in the Battle Mountain Gold Trend, Nevada
28 Septiembre 2011 - 10:36AM
Marketwired
Columbus Gold Corporation (TSX VENTURE: CGT) ("Columbus Gold") is
pleased to announce that drilling has commenced at its Browns
Canyon gold project, located approx. 20 km (12 miles) west of
Barrick Gold's Archimedes open pit gold mine, in the highly
prospective Battle Mountain Gold Trend of Nevada, which is known to
contain over 100 million ounces of gold with some two dozen gold
mines throughout the trend.
The program will consist of up to 16 RC holes in up to 2,730 m
(9,000 ft) of drilling. The project is 100% controlled by Columbus
Gold subject to an underlying royalty. A location map can be viewed
at the following link:
http://www.columbusgoldcorp.com/i/nr/2011-09-28-map-bc.gif
Preliminary sampling at Browns Canyon yielded gold values up to
3 g/t along a zone of silicification, sparsely exposed through
cover, with a strike length of 2,000 meters (6,600 ft). The
mineralization is Carlin-style, hosted in Devonian and
Mississippian limestones, shales and siltstones. Follow-up geologic
mapping and geochemical grid sampling was performed in 2011 with
four hundred samples along the silicified zone defining a coherent
gold anomaly (from 10 ppb to 3 g/t gold) about 2,000 meters long
and reaching up to 390 meters at its widest point (6,600 by 1,300
ft). This anomaly becomes covered on the north end for about 600
meters (2,000 ft) and then reappears, albeit more weakly and less
coherent, on the strike for another 900 meters (2,970 ft). The
overall anomaly could be as much as 3,500 meters (11,550 ft) long
on strike if it continues in bedrock below the covered area. A map
of the anomaly is available at the following link:
http://www.columbusgoldcorp.com/i/nr/2011-09-28-geochem-map.pdf
Limited historical drilling in the project area was by completed
by Cordex in 1985 and consisted of seven vertical holes ranging
from 38 to 168 m (125 to 555 ft) of depth; the holes were drilled
without the benefit of the results of grid sampling. The wider part
of the geochemical anomaly which was defined in the recent 2011
sampling program lies north of the main area of historical
drilling. The best intercept in the historical holes was 9 m of
0.82 gpt gold.
Geologic mapping indicates the better gold grades may be related
to steeper beds and structures more properly tested with angled
drill holes. The 2011 drill program will consist entirely of angle
drilling, with many of the holes arranged on panels, or fences,
across the full width of the geochemical anomaly.
ABOUT COLUMBUS GOLD
Columbus Gold is a gold exploration and development company
operating in French Guiana and Nevada. In French Guiana, Columbus
Gold recently acquired an option to earn a 100% interest in the
Paul Isnard gold project, which has a 43-101 compliant 1.9 million
ounce inferred gold resource and substantial expansion potential.
In Nevada, Columbus is a prolific project generator focused on
advancing projects either through joint-venture with industry
partners or on its own where exploration risk is minimized and
potential is particularly promising. Exploration activities are
managed by Cordex which is owned and operated by Andy Wallace who
has a long and successful history of gold discovery and mine
development. Columbus Gold currently has 13 of its 26 strategically
located gold projects in Nevada joint-ventured to major and junior
mining companies, including Agnico-Eagle Mines Limited.
ON BEHALF OF THE BOARD,
Robert Giustra, Chairman & CEO
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:
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.
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.
Contacts: Columbus Gold Corporation Investor Relations
604-634-0970 or Toll Free: 1-888-818-1364 info@columbusgoldcorp.com
www.columbusgoldcorp.com
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