Colossus Closes Gap Between the GT and Central Mineralized Zones Successfully

Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) announced that drilling has closed the gap between the GT Zone and Central Mineralized Zone on sections 50NE and 100NE, validating the exploration team’s effort in demonstrating continuity between the CMZ and GT Zone. This and other assay results from the 15,000 metre surface drilling program at Serra Pelada Gold-Platinum-Palladium Project were reported.

As quoted in the press release:

HIGHLIGHTS:
For the first time, drilling has closed the gap between the GT Zone and Central Mineralized Zone (“CMZ”) on sections 50NE and 100NE validating the exploration team’s effort in demonstrating continuity between the CMZ and GT Zone.

The gap on sections 75NE and 175NE continues to narrow with drill holes SPD-161 and SPD-154 having extended the GT Zone approximately 30 and 45 metres respectively closer to the CMZ in these sections. Further drilling will attempt to eliminate the remaining gaps on these sections.

SPD-159 intersected 5.30 metres at 23.49 g/t gold, 0.06 g/t platinum and 0.22 g/t palladium extending mineralization along the upper limb of the fold, up-dip from the CMZ by approximately 27 metres.

SPD-165 intersected the GT Zone and returned 54.48g/t gold, 0.69 g/t platinum and 5.42 g/t palladium over 3.30 metres. SPD-165 was a 25 metre step-out from hole SPD-142 that returned 9.8 metres at 109.89 g/t gold, 0.75 g/t platinum and 15.51 g/t palladium including 0.80 metres at 1,336.13 g/t gold, 8.46 g/t platinum and 188.14 g/t palladium (see April 25, 2012 press release) and continues to prove the high-grade potential of the GT Zone.

Colossus President & CEO Claudio Mancuso said:

“Our drill campaign continues to expand the GT Zone and add mineralization along the untapped portions of the upper limb. We have now closed the gap between the GT Zone and the CMZ on two sections and will continue to try to demonstrate the lower limb and CMZ are one deposit along the 600 metres of strike length proven to date at Serra Pelada. The upper limb is becoming significant as we continue to intersect high-grade mineralization there. We are optimistic of the potential for this area to become a meaningful part of the overall mineralization at Serra Pelada.”

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