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Continental Gold Inc.
Summary
| Project: | Buritica | |
|---|---|---|
| Deposit: | Laurel, Veta Sur | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 8/20/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 20-8-2018: Continental Gold Inc. announces an Exploration/Drilling Update report for its Laurel, Veta Sur deposit at the Buritica project. Drilling results incl. 4.70m @ 161.33g/t Au, 31.1g/t Ag from 204.50m. Toronto, Ontario, August 20, 2018 – Continenta | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mauricio Castaneda (Internal) | |
| ABSTRACT: | Toronto, Ontario, August 20, 2018 – Continental Gold Inc. (TSX:CNL; OTCQX:CGOOF) (“Continental” or the “Company”) is pleased to announce results from nine diamond drill holes into the Veta Sur system as part of its 2018 drilling program at its 100%-owned Buriticá project in Antioquia, Colombia. The Company currently has 14 diamond drill rigs in operation, focusing on increasing and upgrading the mineral resources to higher classification categories by testing for high-grade and broad mineralized zones within the mineral reserve and resource envelopes and testing high-impact targets along strike and below existing mineral resources, as well as grassroots targets proximal to existing and proposed infrastructure. The Company has US$208 million of available liquidity as of June 30, 2018. “With excellent progress being made in underground development for the mine, we are becoming much betterpositioned to drill the orebodies from short distances,” commented Ari Sussman, CEO. “The analytical results today continue to confirm our hypotheses for the Veta Sur system—namely that infill drilling improves the grade of master veins, which will provide the bulk of mine production, and that the vertical dimension of high-grade veins remains continuous at depth, providing additional mining flexibility and potential for production to continue many years past the feasibility mine plan.” | |
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