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Colossus Minerals Reports Results from Diamond Drilling Programs at Serra Pelada

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Colossus Minerals Inc. (TSX:CSI)(OTCQX:COLUF) announces assay results from surface and underground drilling programs on its 75% owned Serra Pelada gold-platinum-palladium Mine. The Serra Pelada Mine is a joint venture between Colossus and Cooperativa de Mineracao dos Garimpeiros de Serra Pelada (“COOMIGASP”) located in the State of Para, Brazil.

 
HIGHLIGHTS

 

 

 

—  SPD-182 intersected 3.40 metres grading 13.28 g/t gold, 0.02 g/t

platinum and 0.06 g/t palladium increasing the width of the CMZ in this

location

 

 

—  SPD-184 intersected 26.65 metres grading 5.10 g/t gold, 11.22 g/t

platinum and 9.42 g/t palladium also increasing the width of the CMZ in

this location

 

 

—  Underground drilling encounters more high grade with hole SPUD-018

intersecting 3.60 metres grading 24.37 g/t gold, 0.28 g/t platinum and

0.88 g/t palladium

 

 

 

Claudio Mancuso, CEO of Colossus commented, “We are pleased that despite poorer than anticipated drill performance, the results demonstrate localized increases in the width of the CMZ. We are further pleased to be able to establish more effective drilling stations closer to the CMZ, which will increase the pace of delineation drilling and assist with mine planning.”

 

DETAILS

 

Results from the surface and underground drilling programs at Serra Pelada can be found in Table 1 below and the drill hole collar locations as well as hole traces for holes mentioned in this news release can be seen in Figure 1 below.

 
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/csi228-F1.pdf.

 

Posted March 1, 2013

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