Columbus Gold Begins Eastside Drilling
Columbus Gold Corporation (TSX VENTURE:CGT) has reported that drilling has commenced at its Eastside gold project in Nevada. The 3,048 m (10,000 ft) drilling program will consist of up to 20 RC holes.
The Eastside Project is located approximately 40 km (25 miles) west of Tonopah, Nevada. The project is 100% controlled by Columbus Gold subject to underlying royalties.
Sampling (530 samples) of outcrop from Eastside yielded gold values from nil up to 7.95 g/t (0.23 opt) over 900 m (3,000 ft) of strike length along a northerly-trending zone of silicified breccia. Most of the samples exceeded 0.15 g/t (0.004 opt) with several areas running from 0.8 to 3.5 g/t (0.02 to 0.10 opt).
Mineralization occurs in breccia zones with quartz veins hosted in altered Tertiary volcanic and sub-volcanic rocks. The highest gold values seem closely associated with breccia zones along the margins of intrusive rhyolite flow-domes.
There is one adit and a few prospect pits scattered across the property. There are three historic drill holes on the east margin of the property, but none tested the mineralization identified in the recent sampling.
Columbus Gold is a gold exploration and development company operating in French Guiana and Nevada. In French Guiana, Columbus Gold recently acquired an option to earn a 100% interest in the Paul Isnard gold project, which has a 43-101 compliant 1.9 million ounce inferred gold resource and substantial expansion potential. In Nevada, Columbus is a prolific project generator focused on advancing projects either through joint-venture with industry partners or on its own where exploration risk is minimized and potential is particularly promising. Exploration activities are managed by Cordex which is owned and operated by Andy Wallace who has a long and successful history of gold discovery and mine development. Columbus Gold currently has 12 of its 22 strategically located gold projects in Nevada joint ventured to major and junior mining companies, including Agnico-Eagle Mines Limited.
Posted March 9, 2011
