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Columbus Gold Corp.
Summary
| Project: | Eastside | |
|---|---|---|
| Deposit: | Eastside | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 7/21/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 21-7-2017: Columbus Gold Corp. announces an Exploration/Drilling Update report for its Eastside deposit at the Eastside project. Drilling results incl. 24.4m @ 0.26g/t Au from 172.2m. Vancouver, BC, Canada, July 21st, 2017. Columbus Gold Corp. (CGT: TSX, | |
| Resources: | (Resource, Inf.): 35.78Mt @ 0.63g/t AuEq for 721koz AuEq at Eastside | |
| CP/QP: | [Overall Report]: Andy Wallace (Internal) | |
| ABSTRACT: | Vancouver, BC, Canada, July 21st, 2017. Columbus Gold Corp. (CGT: TSX, CBGDF: OTCQX) announces that it intends to spin-out its mineral projects in the United States into a separate publicly traded company to be named Allegiant Gold Ltd. Columbus is also pleased to provide an update on its drilling activities in Nevada. An initial reverse circulation drilling program consisting of 10 holes totaling 2,938 meters (9,539 feet) was completed at Columbus Gold’s 100% controlled Eastside gold project-Target 5, in Nevada in April 2017. Target 5 is five miles (8 km) south of the Original Target at Eastside, where Columbus announced an initial NI 43-101 pit-constrained Inferred resource estimate consisting of 35,780,000 tonnes grading 0.63g gold equivalent per tonne, for a total of 721,000 ounces1 of gold equivalent (using a cut-off grade of 0.15g gold per tonne and a gold/silver ratio of 60:1). Most of the initial drilling was centered around an outcrop yielding surface samples up to 1.08 g/t gold. All holes encountered thick zones of anomalous gold mineralization exceeding 35 meters. Results were generally low-grade with the best intercepts being 24.4 meters of 0.30 g/t gold from 7.6 m to 32 m in hole ES-137, 4.6 meters of 0.50 g/t gold from 102.1 m to 106.7 m, including an additional 24.4 meters of 0.26 g/t gold from 172.2 m to 196.6 m in hole ES-146, and 10.7 meters of 0.43 g/t gold from 249.9 to 260.6 m in hole ES-143. Silver mineralization was present within the gold intercepts in several holes with the best intercept in ES-142 containing 4.5 meters of 19.7 g/t silver, 10.7 meters of 9.9 g/t silver, and 7.6 meters of 15.4 g/t silver. | |
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