Colossus Minerals Drills 7.30 Metres at 1494.7 g/t Gold

Colossus Minerals Inc. (TSX:CSI) reports additional assay results from its surface drilling program at the Serra Pelada gold-platinum-palladium project, the Colossus-COOMIGASP JV, Para State, Brazil.

The press release is quoted as saying:

Gold-platinum-palladium mineralization at Serra Pelada overprints metasediments occupying the hinge and limbs of a northwest-facing, southwest-plunging, reclined synclinorium that plunges gently southwest from the historical open pit. The CMZ comprises mainly steeply dipping bodies in the fold hinge zone but extends onto the upper and lower limbs of the fold.

Colossus’s President and CEO, Ari Sussman says:

“Drilling such high-grade gold, platinum and palladium approximately 700 metres down plunge from the outcrop of the Central Mineralized Zone in the historic Serra Pelada pit continues to demonstrate the robustness of this mineralized system.”  “We wait with great anticipation for early 2012 when construction of the underground decline advances to the point that enables the Company to see the Central Mineralized Zone first hand and extract the first of three 2,500 tonne bulk samples from it.”

Click here to access the entire news release.

Click here to access Colossus’s company profile.