Columbus Gold Corporation (TSX-V:CGT) is pleased to report that a second drill rig, operating on a 24 hour basis, commenced drilling on August 1st at Columbus Gold’s Montagne d’Or gold deposit, Paul Isnard Project, French Guiana. A third drill rig is in transit to French Guiana and is expected to arrive this month.
Utilizing a cut-off grade of 0.4 g/t gold, the Montagne d’Or gold deposit hosts a resource of 140.1 million tonnes grading 1 g/t gold for a total of 4.31 million contained Inferred ounces of gold. The best mineralized and most consistent zones on the Montagne d’Or deposit, based on current interpretation, are located in the principal Upper Felsic Zone (“UFZ”) (for further details, please refer to Columbus Gold’s news release of June 30, 2014). Drilling of the UFZ on a 50 metre spacing array began on June 23rd. There are approximately 16,000 metres remaining in the current Phase II program, which on deployment of the third drill rig, is scheduled to be completed in October.
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