Continental Gold Ends Q2 Debt Free and Well Funded

Continental Gold Ltd. (TSX:CNL,OTCQX:CGOOF) announced its results for the second quarter of 2014, commenting that it remains debt free and well funded, having finished the quarter with US$93.3 million in its treasury.

Q2 exploration highlights include:

• Approximately 12,701 metres of diamond drilling was completed during the quarter, for an overall project life total of approximately 243,531 metres as at June 30, 2014.
• Underground drilling from the Higabra Valley Tunnel commenced during the quarter. Initially, shallowly-inclined drill-holes are planned to transect the entire vein system in Yaraguá at elevations ranging from 1,000 – 1,300 metres above sea-level.
• The Company reported positive drilling results for the Yaraguá and Veta Sur vein systems. Drilling was successful in extending and infilling vein families in the Yaraguá and Veta Sur vein systems. Drill results included: BUUY270, which intersected 2.2 metres @ 2,615.4 g/t gold and 388 g/t silver; and BUUY210, which intersected 6.9 metres @ 97.8 g/t gold and 238 g/t silver.
• Drilling at the Laurel vein system was successful at extending the potential target dimensions of Laurel to approximately 1,100 metres along strike x 1,000 metres vertically. Drill results included: BUSY361D01, which intersected 8.3 metres @ 6.1 g/t gold and 23 g/t silver; and BUUY258, which intersected 1.45 metres @ 84 g/t gold and 7 g/t silver.

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