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Continental Gold Inc.
Summary
| Project: | Buritica | |
|---|---|---|
| Deposit: | Centena Vein | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 6/24/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 24-6-2019: Continental Gold Inc. announces an Exploration/Drilling Update report for its Centena Vein deposit at the Buritica project. Drilling results incl. 0.50m @ 582.00g/t Au, 159.0g/t Ag from 97.00m. Toronto, Ontario, June 24, 2019 – Continental Gold | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: David J Reading (Independent) | |
| ABSTRACT: | Toronto, Ontario, June 24, 2019 – Continental Gold Inc. (TSX:CNL; OTCQX:CGOOF) (“Continental” or the “Company”) is pleased to announce assay results for four diamond drill holes at its 100% owned Buriticá project in Antioquia, Colombia. Assay results reported herein are for the initial exploration holes drilled into the northeastern portion of the Yaraguá system targeting the Centena vein family. The Company currently has 11 diamond drill rigs operating as part of its 73,500-metre definition and exploration drill program for 2019. Construction of the Buriticá project was 67% complete as of May 31, 2019 and remains on schedule for first gold pour in H1 2020. “Our strategy of drill-testing targets that have potential for being incorporated into the first three years of mine life at Buriticá has yielded excellent results in 2019. With the recent discovery of BMZ4 and assay results from drilling of the Centena Vein yielding, on a weighted average basis, greater than a 500% higher grade of gold than the mineral resource block model in the corresponding locations, we have plenty to look forward to in the coming months," commented Ari Sussman, CEO. Centena is a northwest-to-southeast high-grade master vein with a continuous strike of more than 800 metres, which crosses the majority of the east-west trending Yaraguá master vein system. The intersection of the Centena vein with the Yaraguá vein system typically results in zones of higher-grade gold and silver over wider intervals. Broad mineralized zones (BMZ) are typically developed at the intersection of the NW (Centena and NW veins) and EW (Yaraguá) vein systems. Due to difficult topography limiting the Company’s ability to drill the northern portion of the Yaraguá system, significant potential exists for discovery of new east-west trending veins along the intersection with the Centena vein. With underground development rapidly advancing, new areas are being installed for further drilling to the north and the potential exists for new mineralization to be incorporated into the early years of a revised mine plan for the Yaraguá system. | |
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