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Continental Gold (TSX:CNL), an exploration company focused on its Buriticá gold project in Colombia, on Thursday released third-quarter results and an update on the project.
Continental Gold (TSX:CNL), an exploration company focused on its Buriticá gold project in Colombia, on Thursday released third-quarter results and an update on the project.
Between July and August, 14 infill drill holes were completed in the Veta Sur and La Estera vein systems, which extended existing veins and encountered new veins outside the existing resource envelope, the company said. Mineralization was found 250 meters soutwest and 400 m below the Veta Sur resource.
Continental Gold also announced it is on track to submit the final environmental license modification in the fourth quarter.
The drill results released from Q3 will be included in an updated mineral resource estimate expected to be released late this year or early in 2014.
As quoted in the press release, highlights and significant events from Q3 included:
The Company announced drilling results on July 9, 2013 and August 27, 2013 for a total of 14 drill holes in the Veta Sur and La Estera vein systems. All drill holes in the Veta Sur vein system were successful in infilling the deposit, extending existing veins and encountering new veins outside of the mineral resource envelope. BUSY343 successfully intercepted mineralization 250 metres to the southwest of, and 400 metres below, the current Veta Sur mineral resource envelope.
On September 19, 2013, the Company announced that it remains on track to submit the second and final environmental license modification to Corantioquia in the fourth quarter of 2013.
The Company’s development pace improved at the Higabra Valley tunnel to a rate of 2-3 metres per day.
On August 20, 2013, the Company celebrated 365 days without a lost-time accident for employees. This significant achievement validates extensive safety procedures implemented over the past two years. To date, the Company remains lost-time accident free.
The Company remains debt-free and well-funded, ending the quarter with US$132.4 million in its treasury (approximatelyUS$127 million as at November 6, 2013).
Click here for the full press release by Continental Gold (TSX:CNL)