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Continental Gold Inc.
Summary
| Project: | Buritica | |
|---|---|---|
| Deposit: | Yaragua | |
| Location: | Colombia | |
| Commodities: | Gold-Silver | |
| Date: | 1/15/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Mine Development | |
| Report details: | 15-1-2019: Continental Gold Inc. announces an Exploration/Drilling Update report for its Yaragua deposit at the Buritica project. Drilling results incl. 1.0m @ 215.00g/t Au, 58.6g/t Ag from 80.30m. Toronto, Ontario, January 15, 2019 — Continental Gold Inc | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Mauricio Castaneda (Internal) | |
| ABSTRACT: | Toronto, Ontario, January 15, 2019 — Continental Gold Inc. (TSX:CNL; OTCQX:CGOOF) (“Continental” or the “Company”) is pleased to announce additional high-grade assay results from underground channel sampling and nine holes drilled into the Yaraguá system as part of the underground mine construction and exploration drilling program at its 100%-owned Buriticá project in Antioquia, Colombia. The Company plans to drill up to 73,500 metres in 2019, consisting of approximately 55,000 metres of capitalized definition drilling and approximately 18,500 metres of infill drilling. Additionally, the Company has a significant backlog of drill holes being assayed, and the results are pending and will be reported in due course. Lastly, an updated NI 43-101 mineral resource estimate for the Buriticá project remains on schedule and is expected to be completed prior to the end of Q1 2019. Ari Sussman, Chief Executive Officer of the Company, stated: “Yesterday, the Company received numerous queries of concern from our shareholders questioning whether our largest shareholder, Newmont Mining, would remain engaged with Continental Gold after its merger with Goldcorp. Newmont has unequivocally confirmed that it ‘remains supportive of Continental and the continued development of the Buriticá project’.” “Additionally, I would like to personally congratulate our geology and mine development teams for working together in discovering BMZ2. While it may be very early days in assessing this new discovery, we are excited nonetheless as it offers similar tonnage and grade potential to BMZ1, which has already been drill-traced over 400 metres vertically and remains open at depth. Being able to potentially mine two broad, high-grade and large tonnage zones, alongside high-grade yet narrow individual veins, will only serve to enhance the mine and increase operations flexibility. On the basis of the discovery of BMZ2, our mine development team has begun drift towards the zone and anticipates reaching it in April 2019.” | |
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