Continental Gold Drills 5.35 Meters of 51.7 G/t Gold

Continental Gold (TSX:CNL) reported results from the final 12 holes drilled at the Veta Sur and Yaraguá vein systems at its Buritica project. The company also provided an update on its ongoing feasibility study, reporting that the study is now anticipated to be complete in the second half of Q1 2016. Previously, the report was expected to be complete in late Q2.
As quoted in the press release:

• Drilling across Yaraguá and Veta Sur was successful in infilling areas and elevation ranges amenable to potential development and mining of both vein systems. As well as confirming master vein continuity at grade-thicknesses similar to or better than in the current mineral resource model, drilling intersected significant mineralization in vein ‘halos” and also intersected some veins not included in the resource model.
• In central and west-central Veta Sur, drilling intersected multiple vein families with grades X thicknesses that are commonly substantially greater than those expected from the current mineral resource block model in these areas. High-grade intercepts in related master veins include:
• 7.0 metres @ 12.8 g/t gold and 11 g/t silver, including 2.4 metres @ 30.6 g/t gold and 16 g/t silver (BUSY373D01, VS34, elevation of 1,156 metres);
• 8.58 metres @ 12.7 g/t gold and 19 g/t silver, including 1.76 metres @ 23.1 g/t gold and 26 g/t silver (BUUY314D01, VS34, elevation of 1,336 metres);
  • 1.6 metres @ 50.6 g/t gold and 43 g/t silver (BUUY314D03, VS43, elevation of 1,306 metres);
  • 1.6 metres @ 88.7 g/t gold and 36 g/t silver (BUUY314D03, VS41, elevation of 1,256 metres);
  • 11.65 metres @ 10.1 g/t gold and 16 g/t silver, including 3.35 metres @ 29.1 g/t gold and 32 g/t silver (BUUY314D03, VS26, elevation of 1,122 metres);

• 5.35 metres @ 51.7 g/t gold and 52 g/t silver, including 2.4 metres @ 112.3 g/t gold and 102 g/t silver (BUUY314D04, VS41, elevation of 1,299 metres);
• 3.7 metres @ 27.8 g/t gold and 27 g/t silver, including 1.45 metres @ 69.3 g/t gold and 62 g/t silver (BUUY314D04, VS39, elevation of 1,292 metres); and
• 4.1 metres @ 11.5 g/t gold and 50 g/t silver, including 1.95 metres @ 20.4 g/t gold and 62 g/t silver (BUUY314D04, VS31, elevation of 1,263 metres).

Continental COO, Donald Gray, said:

With the feasibility study nearing completion, we are preparing to move forward into detailed engineering. We have assembled a strong, diverse team of leading industry professionals well-qualified to develop a comprehensive and executable plan; we are also pleased to be rapidly advancing the Buriticá project to a production decision in H2 2016.

Click here for the full press release.