Resource News

Continental Gold Limited (TSX:CNL,OTCQX:CGOOF) drilled 28.4 metres at 20.5 g/t gold and 135 g/t silver at the Buriticá Project, located in Colombia. The Company significantly extended the Veta Sur Vein System along strike and at depth.

Continental Gold Limited (TSX:CNL,OTCQX:CGOOF) drilled 28.4 metres at 20.5 g/t gold and 135 g/t silver at the Buriticá Project, located in Colombia. The Company significantly extended the Veta Sur Vein System along strike and at depth.

As quoted in the press release:

Highlights (referenced in Figures 1 and 2)

  • All five underground drill-holes and a more deeply drilled, surface-collared hole in central Veta Sur were successful in infilling the deposit, extending existing veins and encountering new veins outside of the current resource envelope.
  • BUUY126 extended two broad high-grade subzones in central Veta Sur. Intercepts include:
    • 28.4 metres @ 20.5 g/t gold and 135 g/t silver (elevation of 1,611 metres), including 1.35 metres @ 82.1 g/t gold and 54 g/t silver plus 2.15 metres @ 135.3 g/t gold and 921 g/t silver; and
    • 10.9 metres @ 10.8 g/t gold and 85 g/t silver (elevation of 1,531 metres), including 1 metre @ 97.4 g/t gold and 510 g/t silver.

These intercepts exhibit Stage II visible gold-bearing mineralization.

  • Portions of several drill-holes aimed at infilling the central Veta Sur vein system intersected vein domains with significantly higher grades and/or thicknesses than in the current mineral resource model (see “Technical Information” below). Such intercepts, include:
    • 3 metres @ 86.8 g/t gold and 26 g/t silver (BUSY349, elevation of 1,420 metres; exhibits Stage II, visible gold-bearing mineralization); and
    • 3.9 metres @ 10.1 g/t gold and 35 g/t silver (BUSY349, elevation of 1,432 metres);
    • and higher in the Veta Sur system:
    • 5.75 metres @ 9.7 g/t gold and 71 g/t silver, including 1.3 metres @ 29 g/t gold and 127 g/t silver (BUUY138, elevation of 1,693 metres); and
    • 7.25 metres @ 9.1 g/t gold and 72 g/t silver, including 1.6 metres @ 31.1 g/t gold and 262 g/t silver (BUUY142, elevation of 1,675 metres).
  • Several of the drill-holes intersected vein domains outside of the current Veta Sur mineral resource envelope. Significant intercepts, extending vein domains, include:
    • 0.65 metres @ 41.5 g/t gold and 18 g/t silver, (BUUY126, elevation of 1,671 metres);
    • 0.5 metres @ 2.7 g/t gold and 634 g/t silver (BUUY130, elevation of 1,730 metres);
    • 2.25 metres @ 40.8 g/t gold and 48 g/t silver, including 1.05 metres @ 86 g/t gold and 95 g/t silver (BUUY138, elevation of 1,701 metres); and
    • 2.8 metres @ 4 g/t gold and 480 g/t silver (BUUY142, elevation of 1,564 metres).
  • BUSY343, drilled to the north from La Estera, encountered multiple mineralized intervals at deep elevations. Significant intercepts include:
    • 0.58 metres @ 35.1 g/t gold and 36 g/t silver (elevation of 576 metres);
    • 0.52 metres @ 20.9 g/t gold and 12 g/t silver (elevation of 570 metres);
    • 2.66 metres @ 5.3 g/t gold and 19 g/t silver, including 1.13 metres @ 11 g/t gold and 40 g/t silver (elevation of 505 metres); and
    • 0.65 metres @ 14.1 g/t gold and 3 g/t silver (elevation of 409 metres).

At up to 250 metres to the southwest of, and 400 metres below, the current mineral resource envelope at Veta Sur, these intercepts are the furthest step-out and vertical extensions of the Veta Sur system to date.

  • BUSY346, drilled to test the northern portion of the La Estera Area, is interpreted to have intersected the easterly Laurel vein family. Significant intercepts include:
    • 2.27 metres @ 6.4 g/t gold and 163 g/t silver, including 1.1 metres @ 12 g/t gold and 261 g/t silver (elevation of 1,698 metres).

Continental Gold Limited CEO, Ari Sussman, said:

Buriticá continues to deliver robust surprises. BUSY343 deviated significantly to the northeast from its intended location, yet ended up significantly extending Veta Sur. The drilled dimensions of the Veta Sur vein system have now increased at depth to approximately 700 metres along strike by 1,300 metres vertically. Additionally, new silver-rich veins continue to be intersected to the north of the system. With over 50 holes in the cue for logging, cutting and assaying, and eight drill rigs turning, we anticipate the latter part of 2013 will provide a great deal of useful information for the next resource estimate update.

Click here to read the Continental Gold Limited (TSX:CNL,OTCQX:CGOOF) press release

See this press release on Marketwire

MARKETS

Markets
TSX20269.97+89.37
TSXV669.57-8.93
DOW34152.01+239.57
S&P 5004305.20+8.06
NASD13102.55-25.50
ASX7064.30+31.80

COMMODITIES

Commodities
Gold1775.49-2.88
Silver20.13-0.11
Copper3.620.00
Palladium2156.50+19.93
Platinum937.68+7.68
Oil86.85+0.32
Heating Oil3.450.00
Natural Gas9.35+0.02

DOWNLOAD FREE REPORTS

×