Continental Gold (CNL:TSX)

Continental Gold (CNL:TSX)

Continental Gold (CNL:TSX) released assay results for six drill holes at their Buritica project, a high-grade underground development gold project in Antioquia, Colombia.  The assays came from CNL’s Veta Sur vein system in the La Estera zone.  The goal of the 2013-2014 drill campaign is to grow resources and convert much of the company’s 3.7 million ounces of Inferred Mineral Resources to its existing 1.6 million ounces of Measured and Indicated Mineral Resources.

Five of the six holes were drilled underground, with one hole being drilled at surface and all of them encountered vein mineralization including some extensions of the existing veins as well as encountering new veins outside of the resource envelope.

Highlights of this latest batch of results include drill hole BUUY126 which encountered intercepts of 28.4m of 20.5g/t gold and 135g/t silver including of 1.35m of 82.1g/t gold and also 2.15m of 135.3g/t gold.

Drill hole BUSY343 was drilled to the north of the La Estera zone and encountered multiple mineralized intervals deep in the system including 0.58m of 35.1g/t gold and 36g/t silver at a depth of 576m and 0.52m of 20.9g/t gold and 12g/t silver at a depth of 570m.  These latest results continue to extend the known mineralized zones as well as confirm the existing thesis of the system.  The company is targeting an updated resource by early 2014 with a pre-feasibility planned for H2/2014.

Ari Sussman, CEO of Continental Gold

Ari Sussman, CEO of Continental Gold

"Buritica continues to deliver robust surprises," commented Ari Sussman, CEO of Continental Gold. "BUSY343 deviated significantly to the northeast from its intended location, yet ended up significantly extending Veta Sur. The drilled dimensions of the Veta Sur vein system have now increased at depth to approximately 700 metres along strike by 1,300 metres vertically. Additionally, new silver-rich veins continue to be intersected to the north of the system. With over 50 holes in the cue for logging, cutting and assaying, and eight drill rigs turning, we anticipate the latter part of 2013 will provide a great deal of useful information for the next resource estimate update."

News Release here: Continental Gold Drills 28.4m at 20.5g/t Gold and 135g/t Silver and Significantly Extends the Veta Sur Vein System Along Strike and at Depth