The Conversation (0)
Results for nine diamond drill-holes from the Continental Gold Ltd. (TSX:CNL) ongoing program at its 100%-owned Buriticá Project in Antioquia, Colombia were announced. Ten drills are currently on site as part of the Company’s Phase III, 60,000-metre diamond drill program for 2012.
As quoted in the press release:
Highlights
Yaragua
• Step-out drilling to the west at the Yaragua System has extended the strike length of several veins between 50 to 75 metres and the veins remain open along strike and at depth. Significant intercepts include 25 metres @ 13.3 g/t Gold and 16 g/t Silver (including 4.5 metres @ 52.8 g/t Gold and 16 g/t Silver) in drill-hole BUSY224, which is outside the current National Instrument 43-101 (“NI 43-101″) compliant resource estimate.
• BUSY238, the first deep penetrating drill-hole to test the Yaragua System vertically, was drilled to over 1,000 metres before completion. Significant intercepts below the current NI 43-101 resource estimate include 36 metres @ 6.7 g/t Gold and 11 g/t Silver. A second deep penetrating diamond drill hole is nearing completion and a series of deep holes are planned to probe the depth extent of the Yaragua System in 2012.
• Step-out drilling in eastern Yaragua demonstrated that the system remains open to the east and at depth. Results outside the current NI 43-101 compliant resource model include 3.65 metres @ 13.5 g/t Gold and 552 g/t Silver.
La Mano
• BUSY228, the second drill hole completed at La Mano target prior to the end of 2011, yielded several high silver/gold mineralized zones at shallow depths and, encouragingly, at greater depths. A significant intercept to the south intersected 0.6 metres @ 55.4 g/t Gold, 6 g/t Silver and 1.42% Zinc. Two diamond drills are presently being mobilized to the La Mano target with drilling expected to commence towards the end of February. The next assay results from La Mano will be released once five to ten holes have been completed and analyzed.
Veta Sur System
• BUSY231, the third deep penetrating drill hole to test the Veta Sur system, intersected 5.95 metres @ 125.9 g/t Gold, 66 g/t Silver and 1.6% Zinc before the hole ran into technical difficulty and was abandoned at approximately 550 metres down-hole, ending in mineralization. This hole extended the northern Veta Sur system by more than 100 metres of strike length and to a depth of approximately 500 metres from surface outside of the current NI 43-101 resource estimate. The reader should be cautioned that due to drilling difficulties, a recovery rate of 25% was achieved in this portion of the interval and, consequently, the result should only be regarded as an indication that high-grade mineralization occurs at this depth in the northern portion of the Veta Sur System. The Company intends to re-drill this hole in short order.
• BUSY225 drilled from northern Veta Sur intersected high silver/gold base metal-rich mineralization (including 1.9 metres @ 0.5 g/t Gold and 326 g/t Silver), open laterally and at depth.
• BUSY226 encountered several broad mineralized intervals (for example 7.2 metres @ 5.2 g/t Gold and 36 g/t Silver, including 1.55 metres @ 16.3 g/t Gold and 115 g/t Silver) mainly outside the current resource model.
Click here to read the Continental Gold (TSX:CNL) press release
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