Continental Gold Ltd. (TSX:CNL,OTCQX:CGOOF) announced results from 15 drill holes completed at the Veta Sur vein system at its Colombia-based Buritica project.
Continental Gold Ltd. (TSX:CNL,OTCQX:CGOOF) announced results from 15 drill holes completed at the Veta Sur vein system at its Colombia-based Buritica project. Drilling is ongoing, with the goal being to upgrade inferred resources into the measured and indicated categories.
- Drilling was successful in infilling sections of the eastern Veta Sur vein system, covering more than 200 metres of lateral strike by 700 metres of vertical extent. Additionally, some drill-holes continued north past the Veta Sur vein system and infilled sections of the western portion of the Yaraguá vein system covering more than 300 metres of lateral strike by 300 metres of vertical extent.
- Step-out drilling extended the eastern Veta Sur system below and to the south of the current mineral resource envelope.
- Infill drill-holes encountered multiple vein families with grades X thicknesses that are substantially greater than those expected from the current mineral resource block model for Veta Sur. Broad and/or high-grade intercepts in related Veta Sur master veins include:
- 7.1 metres @ 19.9 g/t gold and 64 g/t silver, including 1.95 metres @ 51.5 g/t gold and 84 g/t silver (BUUY288D01, V26, elevation of 1,067 metres);
- 0.5 metres @ 67.4 g/t gold and 17 g/t silver (BUUY288D01, V24, elevation of 1,050 metres);
- 9.96 metres @ 15.4 g/t gold and 61 g/t silver, including 1.16 metres @ 52.1 g/t gold and 235 g/t silver (BUUY288D02, V30, elevation of 1,066 metres);
- 4.33 metres @ 40.4 g/t gold and 20 g/t silver, including 1.08 metres @ 150.8 g/t gold and 59 g/t silver (BUUY288D03, V30, elevation of 1,173 metres);
- 6.08 metres @ 97 g/t gold and 17 g/t silver, including 1.65 metres @ 352.2 g/t gold and 47 g/t silver (BUUY288D04, V30, elevation of 1,133 metres);
- 2.13 metres @ 49.2 g/t gold and 9 g/t silver (BUUY288D04, V24, elevation of 1,106 metres);
- 8.35 metres @ 13.1 g/t gold and 42 g/t silver, including 1.0 metres @ 50.9 g/t gold and 82 g/t silver (BUUY288D06, V24, elevation of 1,001 metres);
- 1.15 metres @ 43.1 g/t gold and 14 g/t silver (BUUY288D07, V30, elevation of 1,115 metres); and
- 2.4 metres @ 1.5 g/t gold and 1,303 g/t silver (BUUY298, V62, elevation of 1,398 metres).
- These and other intercepts in the 1,000 to 1,400-metre range of elevations confirm the continuity of, and extend high grade sub-domains within, the northern packages of veins in eastern Veta Sur, contributing to increased confidence levels of high-grade gold and silver mineral resources in this area. The grade X thicknesses of these veins are particularly encouraging as the drilled area is proximal to the main haulage development proposed in the 2014 Preliminary Economic Assessment (the ‘PEA’).
Ari Sussman, president and CEO of Continental, commented:
Results from the 2014 infill and extension drilling program in Veta Sur continue to demonstrate robust continuity of master veins, commonly with better grades than predicted from the current mineral resource estimate. This bodes well for the next mineral resource estimate for the Buriticá project, anticipated in late Q2 2015, as well as for the future development of Veta Sur.