Follow-up Drilling Commences at Columbus Gold's Eastside Gold Discovery in Nevada
Vancouver, B.C., November 14, 2013 - Columbus Gold Corp. (CGT: TSX-V) ("Columbus Gold") is pleased to announce that follow-up drilling has commenced at its 100% controlled Eastside gold project in Nevada.
Following very encouraging drill results announced on October 17th, 2013, included 1.82 g/t gold over 27 meters, Columbus Gold has commenced a 12 hole, 3,300 m (10,000 ft) follow-up drill program, designed to extend the gold mineralization encountered. The program will also include deeper drilling at a maximum hole depth of 305 m (1,000 ft).
Gold at Eastside occurs near, and is associated with, the contact of an altered Tertiary rhyolite dome and the surrounding tuffs and volcaniclastic rocks intruded by the dome. The rhyolite dome is highly altered and yielded gold values from anomalous to 7.9 g/t gold in Columbus Gold surface sampling. Five other undrilled, rhyolite flow-dome complexes are currently being mapped and sampled at Eastside.
It appears from the drilling to date that the gold zones become more consistent and better grade with depth. More, and deeper drilling is required to confirm this possibility. Columbus Gold presently believes the deeper gold mineralization cut in its previous drilling, along with overlying "cloud" mineralization, may be minable by open pit at a reasonable stripping ratio. More drilling is necessary to confirm this.
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical content of this press release. Mr. Wallace is the President of Columbus Gold and the principal of Cordilleran Exploration Company (Cordex), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information contact:
This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting drilling, and Columbus Gold's general exploration plans. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation the ability to acquire necessary permits and other authorizations; environmental compliance; cost increases; availability of qualified workers and drill equipment; competition for mining properties; risks associated with exploration projects, mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: general business and economic conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies including without limitation drill rigs; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive Columbus Gold undertakes no obligation to update any of the foregoing except as required by law.