Update on Continental Gold Buritica Project in Colombia

Continental Gold Limited (TSX:CNL, OTCQX:CGOOF) provided an exploration and development update for its Buriticá project in Antioquia, Colombia. Highlights included:

  • Commencement of the first round of underground drilling from the Higabra Valley tunnel.
  • Plans to resume underground development of the Veta Sur ramp.

As quoted in the press release:

Auriferous vein mineralization has recently been sampled in the Higabra tunnel within and west of the Tonusco fault system. As the tunnel continues to advance, it is expected to transect potential extensions of the Laurel, Veta Sur and southern Yaraguá vein systems in areas with little or no drilling completed to date.

CEO Ari Sussman commented:

The underground drilling program from the Higabra Valley tunnel and the directional drilling at Veta Sur represent our key milestones for 2014. Converting existing inferred resources while drilling for new indicated and inferred resources between elevations of 800-1,400 metres are crucial for future mine-planning scenarios at Buriticá. Currently, the vast majority of our indicated resources are between elevations of 1,400-1,700 metres. Assuming this deep drilling proves successful, the overall mineral resource ounces could significantly grow (including indicated ounces), and will allow the modeling under CIM guidelines to build scenarios utilizing mining levels on 800+ vertical metres.

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Click here to read the full press release.