Mr. Ari Sussman reports
CONTINENTAL GOLD DRILLS BROAD AND HIGH-GRADE INTERVALS IN THE VETA SUR VEIN SYSTEM AT BURITICA, COLOMBIA
Continental Gold Ltd. has released results for 15 diamond drill holes through the Veta Sur vein system at the company's 100-per-cent-owned Buritica project in Antioquia, Colombia. Drilling continues with the goal of upgrading inferred resources into the measured and indicated categories under National Instrument 43-101 guidelines, and delivering overall robust mineral resource growth. The company recently released a preliminary economic assessment of the Buritica project. The 2014 PEA (entitled "Buritica Gold Project, NI 43-101 Technical Report Preliminary Economic Assessment, Antioquia, Colombia," and dated Dec. 22, 2014, with an effective date of Nov. 17, 2014) is preliminary in nature and includes inferred mineral resources that are considered to be too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty the 2014 PEA will be realized. Further, mineral resources are not mineral reserves and have not demonstrated economic viability.
Highlights:
- Drilling was successful in infilling central sections of the Veta Sur
vein system through 300 metres of vertical and 300 metres of lateral
extents. The Veta Sur system was also extended to the north, southwest
and to depth and remains open in these directions. Two of the drill
holes, which were designed to infill Veta Sur, continued through the
system to the northwest, encountering new veins. Additionally, these two
holes then continued past the Veta Sur system and encountered the
Yaragua vein system approximately 300 metres from the most westerly modelled vein family.
- In central Veta Sur, drill holes encountered multiple vein families with
grades times thicknesses that are substantially greater than those expected
from the current mineral resource block model. Broad and/or high-grade
intercepts and related master veins include:
- 10.85 metres at 56.4 grams per tonne gold and 163 grams per tonne silver, including 2.55 metres at 108.1 grams per tonne gold and 320 grams per tonne silver (BUSY369D04, V42, elevation of 1,315
metres);
- 9.75 metres at 26.4 grams per tonne gold and 91 grams per tonne silver, including 1.68 metres
at 105.0 grams per tonne gold and 366 grams per tonne silver (BUSY369D07, V42, elevation of
1,324 metres);
- 12.0 metres at 27.3 grams per tonne gold and 46 grams per tonne silver, including 1.35 metres
at 142.8 grams per tonne gold and 195 grams per tonne silver (BUSY369D11, V42, elevation of
1,272 metres);
- 0.6 metre at 116 grams per tonne gold and 109 grams per tonne silver (BUUY289D02, V34,
elevation of 1,185 metres);
- 14.2 metres at 12.2 grams per tonne gold and 17 grams per tonne silver, including 2.15 metres
at 65.6 grams per tonne gold and 78 grams per tonne silver (BUUY289D02, V31, elevation of
1,152 metres);
- 0.5 metre at 107.5 grams per tonne gold and 91 grams per tonne silver (BUUY289D03, V41,
elevation of 1,237 metres);
- 12.7 metres at 14.8 grams per tonne gold and 87 grams per tonne silver, including two metres
at 74.9 grams per tonne gold and 468 grams per tonne silver (BUUY289D03, V31, elevation of
1,186 metres);
- 1.18 metres at 97.4 grams per tonne gold and six grams per tonne silver (BUUY289D04, V34,
elevation of 1,217 metres).
- These and other intercepts in the 1,100-to-1,400-metre range of elevations
will contribute to increased confidence levels of high-grade gold and
silver mineral resources in master veins of central Veta Sur. The grades
times thicknesses of these veins are encouraging for future development of
an area that is close to mining and haulage development proposed in the
2014 PEA.
- Elsewhere in central to western Veta Sur, drilling intersected multiple
veins below or to the southwest of the current mineral resource
envelope, significantly extending the lateral and vertical extents of
northern vein families in this area. Key intercepts, in relation to the
Veta Sur mineral resource envelope, include:
- 5.75 metres at 18.6 grams per tonne gold and 31 grams per tonne silver, including 1.3 metres
at 58.6 grams per tonne gold and 78 grams per tonne silver (BUSY369D09, elevation of 1,360
metres, below mineral resource envelope);
- 0.5 metre at 2.7 grams per tonne gold and 903 grams per tonne silver (BUSY369D10, elevation
of 1,176 metres, outside mineral resource envelope);
- 1.2 metres at 4.7 grams per tonne gold and 853 grams per tonne silver (BUUY289D06, elevation
of 1,170 metres, below mineral resource envelope);
- 4.75 metres at 5.1 grams per tonne gold and 13 grams per tonne silver (BUUY289D06, elevation
of 975 metres, outside mineral resource envelope).
These and other extensions of the Veta Sur system shown in the table are all in proximity to mining development proposed in the 2014 PEA.
-
To the north and west of the current Veta Sur mineral resource envelope,
two drill holes encountered multiple families of veins that are
interpreted to represent as-yet unmodelled northern Veta Sur vein
families and also far-western extensions of the Yaragua vein system.
Significant intercepts include:
- 1.6 metres at 7.4 grams per tonne gold and 41 grams per tonne silver (BUSY369D10, elevation
of 1,081 metres);
- 7.86 metres at 7.2 grams per tonne gold and 29 grams per tonne silver, including 2.14 metres
at 19.1 grams per tonne gold and 77 grams per tonne silver (BUUY289D05, elevation of 762
metres);
- 0.93 metre at 11.5 grams per tonne gold and two grams per tonne silver (BUUY289D05, elevation
of 718 metres).
"Two thousand fourteen infill and extension drilling at Veta Sur continuously intersected superior results compared to the current mineral resource estimate," commented Ari Sussman, chief executive officer of Continental. "We look forward to the next mineral resource estimate for the Buritica project, anticipated in late Q2 2015, and expect to see growth in both the measured and indicated ounces."
Details
Continental's 100-per-cent-owned, 62,348-hectare project, Buritica, contains several known areas of high-grade gold and silver mineralization, of base metal carbonate-style (stage I) variably overprinted by texturally and chemically distinctive high-grade (stage II) mineralization. The two most extensively explored of these areas (the Yaragua and Veta Sur systems) are central to this land package. The Yaragua system has been drill outlined along 1,100 metres of strike and 1,700 vertical metres and partially sampled in underground developments. The Veta Sur system has been drill outlined along over 1,000 metres of strike and 1,800 vertical metres, and has been partially sampled in underground developments. Both systems are characterized by multiple, steeply dipping veins and broader, more disseminated mineralization and both remain open at depth and along strike, at high grades. This release documents the results of infill and extension drilling to the north and northwest through central Veta Sur. Significant new drill intercepts are listed in the table.
DRILLING HIGHLIGHTS
Inter-
Hole ID From To cept Gold Silver Zinc Elevation Vein
(m) (m) (m) (g/t) (g/t) (%) (m)
BUSY369D04 194.85 195.5 0.65 3.09 10.8 0.57 1,328 43
199.95 210.8 10.85 56.38 163 1.32 1,315 42
incl 201.65 204.2 2.55 108.07 319.8 1.99
213.3 214.42 1.12 21.21 13.2 0.02 1,311 41
217.15 219.15 2 5.96 14.7 0.03 1,307 34
222.45 230.55 8.1 4.11 12 0.09 1,296 32
232.75 233.25 0.5 3.62 15.9 0.01 1,294 -
BUSY369D05 138.2 139.9 1.7 18.98 120.8 0.65 1,451 120
298 299.25 1.25 3.29 6.6 0.05 1,301 42
365.35 366 0.65 11.8 12.7 0.03 1,238 39
378.65 379.35 0.7 10.9 5.9 0.08 1,226 34
382.3 382.8 0.5 15.75 18.4 0.05 1,223 32
385.05 386.72 1.67 3.62 4.6 0.04 1,219 32
389.4 390 0.6 8.39 5.9 0.02 1,216 32
396.6 398.05 1.45 2.79 8 0.04 1,209 31
399 400.5 1.5 11.97 641.1 0.44 1,206 31
BUSY369D06 29.4 29.9 0.5 18.25 50.9 0.07 1,456 120
124.55 125.65 1.1 14.64 178.1 0.17 1,370 51
143.1 143.7 0.6 5.94 8.5 0.03 1,354 48
208.3 208.9 0.6 6.74 23.3 0.02 1,295 42
218.3 219 0.7 77.6 54.1 0.21 1,286 41
229.7 230.2 0.5 17.7 156 1.69 1,276 39
BUSY369D07 138.75 148.5 9.75 26.4 91.2 0.64 1,324 42
incl 138.75 140.43 1.68 104.98 366 1.43
149.9 153 3.1 3.52 10.2 0.02 1,320 41
154.5 159.15 4.65 11.25 25.3 0.02 1,315 39
178 178.6 0.6 1.2 1.1 0.09 1,298 34
263 263.6 0.6 5.5 9.5 0.32 1,227 28
275.5 276 0.5 2.71 9.8 0.01 1,216 26
331.8 332.55 0.75 1.29 2.2 0.07 1,170 22
BUSY369D08 39.3 39.85 0.55 2.21 24 0.61 1,471 120
130.3 133.8 3.5 33.78 110.6 0.27 1,397 42
incl 131.4 133.3 1.9 56.55 176.4 0.44
148.65 149.65 1 24.37 36.5 0.04 1,385 41
225 225.92 0.92 1.14 5.5 0.85 1,325 31
244.8 245.35 0.55 5.52 60.8 0.25 1,310 30
260.17 261.6 1.43 5.26 6.7 0.24 1,297 26
274.35 274.85 0.5 53.9 56.8 2.36 1,287 24
328 328.95 0.95 1.21 3.5 0.03 1,246 20
387.7 388.95 1.25 0.81 24.8 0.45 1,202 below
398.45 398.95 0.5 2.33 5 0.2 1,194 10
BUSY369D09 59.8 60.3 0.5 2.84 28.7 0.09 1,470 120
100 100.5 0.5 0.77 21.5 0.31 1,436 90
185.95 191.7 5.75 18.63 31.3 0.24 1,360 below
incl 185.95 187.25 1.3 58.55 77.5 0.57
193.3 194 0.7 6.63 15.8 0.21 1,358 below
200.6 201.1 0.5 3 34.2 0.16 1,352 below
204.7 205.65 0.95 1.67 20.5 0.2 1,349 39
BUSY369D10 103.2 103.8 0.6 1.25 20.8 0.15 1,478 110
170.15 175.65 5.5 9.75 107.6 0.26 1,424 48
incl 171.3 174 2.7 18.78 102.8 0.49 1,425
183.2 183.7 0.5 4.1 45 0.43 1,417 43
199.5 200 0.5 21.2 37.1 0.37 1,405 42
202.2 202.7 0.5 14.1 165 0.09 1,403 41
214 214.5 0.5 2.54 29.8 0.04 1,394 39
230.1 230.6 0.5 2.47 34.1 0.44 1,382 34
324.55 325.9 1.35 4.25 6.7 0.09 1,311 below
380.1 386.7 6.6 2.17 135.5 0.3 1,267 below
468.55 470.35 1.8 1.21 97.3 1.14 1,209 below
517.55 518.05 0.5 2.69 903 1.48 1,176 outside
555.7 556.25 0.55 5.16 11.8 0.02 1,150 outside
617 619.25 2.25 3.66 8.8 0.01 1,108 outside
657 658.6 1.6 7.36 40.7 0.24 1,081 outside
771 772.9 1.9 3.77 20.7 0.05 1,006 outside
771 772.9 1.9 3.77 20.7 0.05 1,006 outside
875.05 875.55 0.5 0.97 31.9 1.92 939 outside
982.45 983.45 1 1.01 0.5 0 869 outside
BUSY369D11 17.9 18.7 0.8 1.74 24.6 3.6 1,528 outside
87.15 87.65 0.5 4.24 18.2 0.06 1,468 120
126.15 126.7 0.55 1.31 4.3 0.32 1,432 90
247.2 248 0.8 1.39 3.3 0.05 1,319 43
285.9 297.9 12 27.28 46 0.26 1,272 42
incl 286.6 287.95 1.35 142.81 194.7 0.22
305.52 306.32 0.8 3.77 3.4 0.03 1,264 39
313 315.6 2.6 11.17 18.7 0.19 1,256 34
618.06 618.8 0.74 20.8 48.8 0.06 971 20
646.92 647.45 0.53 12.25 6.8 0.01 944 below
BUUY289D 178.6 179.15 0.55 1.34 4 0.09 1,489 outside
223.9 224.55 0.65 1.07 0.9 0.03 1,447 outside
241.95 242.7 0.75 1.06 7.2 0.12 1,430 outside
256.45 257.15 0.7 2.21 3.5 0.03 1,416 outside
260.95 261.6 0.65 3.37 10.5 0.16 1,412 outside
BUUY289D01 0 0.5 0.5 10.35 37.8 0.05 1,350 120
14.55 15.15 0.6 2.93 10.7 0.12 1,337 110
42 42.5 0.5 3.74 6.2 0.03 1,313 below
82.05 83.4 1.35 2.81 3.3 0.01 1,277 65
138.4 140 1.6 42.85 27 0.35 1,226 42
143.5 144 0.5 4.12 40.1 0.21 1,222 -
147.95 148.95 1 8.43 46.4 0.03 1,218 41
180.9 181.65 0.75 7.19 8.9 0.04 1,189 -
185 186.7 1.7 26.77 26.8 0.01 1,185 39
192.05 192.55 0.5 28.3 64.7 0.09 1,180 34
200.65 201.35 0.7 8.32 5.8 0.02 1,172 -
205.25 205.75 0.5 12.2 21.1 0.02 1,168 32
218 218.6 0.6 2.3 13.1 0.06 1,157 -
222.6 229 6.4 11.24 13 0.06 1,148 31
incl 225.45 227.4 1.95 33.02 33 0.16
268.15 268.8 0.65 7.34 21.5 1.68 1,113 below
281.15 281.75 0.6 1.22 2.4 0.65 1,101 below
306.6 308.45 1.85 1.31 24.6 0.03 1,078 24
BUUY289D02 26 26.55 0.55 1.17 5.3 0.08 1,312 90
63.2 64 0.8 9.89 8.7 0.02 1,279 below
92.5 93.25 0.75 1.73 2.6 0.01 1,253 48
116.85 118.1 1.25 36.74 56.9 1.13 1,231 42
119.1 121.1 2 11.81 25.6 0.15 1,229 42
124.2 124.9 0.7 16.5 40.4 0.03 1,225 41
137.25 138 0.75 2.72 19.9 0.02 1,214 -
161.4 164 2.6 8.29 13.3 0.09 1,191 39
170.4 171 0.6 116 109 0.22 1,185 34
180.75 181.9 1.15 8.26 6.8 0.01 1,175 -
183.2 183.9 0.7 17.5 10.8 0.02 1,174 32
185.5 186 0.5 14.65 71.9 0.04 1,172 32
187.5 190.5 3 7.56 8.3 0.01 1,168 32
195.2 209.4 14.2 12.22 17.3 0.03 1,152 31
incl 200.6 202.75 2.15 65.56 78.2 0.01
213.5 214 0.5 14.5 11.8 0.28 1,148 30
226.5 227 0.5 4.43 3.6 0.13 1,136 below
239 242.6 3.6 5.75 140.6 0.2 1,123 below
244.5 245.5 1 1.94 183.8 0.29 1,121 below
252 253.2 1.2 1.53 11 0.07 1,114 below
267.7 268.2 0.5 1.79 14.8 0.02 1,101 24
BUUY289D03 33.3 34 0.7 1.04 28.5 0.08 1,431 outside
52 52.5 0.5 3.73 11.5 0.81 1,414 outside
115 115.5 0.5 3.19 4.5 0.04 1,357 120
124.5 125 0.5 1.78 7.5 0.13 1,349 110
177 178 1 5.69 3.1 0.01 1,303 65
215.5 216 0.5 3.3 7.5 0.01 1,270 43
248 248.5 0.5 16.5 14.6 0.04 1,242 42
253.5 254 0.5 107.5 91.1 0.13 1,237 41
260 260.5 0.5 64.4 8.7 0.02 1,231 39
263.55 264.15 0.6 14.85 25.8 0.06 1,228 34
265.5 266 0.5 6.07 10.7 0.09 1,227 34
299 300.3 1.3 5.85 5.4 0.04 1,197 32
301 313.7 12.7 14.83 87.1 0.07 1,186 31
incl 305.7 307.7 2 74.9 468.3 0.26
330.45 331 0.55 9.3 10.6 0.2 1,171 30
478.25 479.2 0.95 2.52 8.2 0.01 1,044 20
BUUY289D04 49.23 49.73 0.5 9.03 38 0.47 1,348 110
60.25 60.9 0.65 1.05 3.9 0.05 1,339 90
133.55 134.06 0.51 2.48 9.1 0.02 1,279 48
183.5 185.16 1.66 2.17 5.4 0.21 1,239 41
196.31 197.44 1.13 10.84 10.3 0.03 1,229 39
199.29 203.31 4.02 2.51 14 0.05 1,225 -
211.76 212.94 1.18 97.4 5.5 0.02 1,217 34
414.18 414.8 0.62 1.57 2.1 0.01 1,064 below
419.53 420.48 0.95 1.11 1.2 0 1,060 below
492.9 494 1.1 2.31 68.8 0.96 1,009 below
549.7 551.25 1.55 1.9 6.3 0.01 971 outside
581.72 582.33 0.61 1.16 2.3 0.05 951 outside
607.1 608.14 1.04 6.8 17.6 0.01 935 outside
BUUY289D05 17.12 17.65 0.53 6.5 16 0.39 1,347 110
41.65 42.3 0.65 2.97 32.8 0.14 1,326 90
110.9 111.46 0.56 9.56 6.5 0.02 1,267 48
122.9 123.4 0.5 1.85 8.1 0.01 1,257 43
159.02 159.6 0.58 2.45 5 0.01 1,227 below
174.9 175.5 0.6 2.99 13.9 0.08 1,214 below
183.1 183.6 0.5 20 27.5 0.02 1,208 39
188.9 191.8 2.9 12.46 17.6 0.2 1,201 34
219 219.89 0.89 3.02 1.2 0.01 1,178 31
469.65 470.25 0.6 0.99 2.6 0.01 979 below
591.4 592 0.6 1.15 3.7 0.06 886 outside
651.4 654.12 2.72 4 6.6 0.02 841 outside
697.5 698.64 1.14 3.72 10.7 0.05 808 outside
701.4 703.08 1.68 4.65 5.1 0.06 805 outside
733.18 733.9 0.72 1.16 3.5 0.03 783 outside
756.56 764.42 7.86 7.21 29.1 0.28 762 outside
incl 756.56 758.7 2.14 19.08 76.8 0.95
766.08 769.13 3.05 1.86 9.6 0.01 759 outside
773.94 774.63 0.69 2.53 33.8 0.78 754 outside
783.17 784.17 1 5.23 6.1 0 748 outside
792.05 792.92 0.87 2.98 3.3 0.01 742 outside
811.07 811.72 0.65 6.83 49.5 0.28 728 outside
816.5 817.46 0.96 5.55 0.5 0 725 outside
826.41 827.34 0.93 11.45 1.6 0 718 outside
834.6 835.5 0.9 8.28 5.8 0 712 outside
859.36 860.7 1.34 1.4 3.6 0.17 695 outside
866.98 867.86 0.88 1.64 1.5 0.01 690 outside
BUUY289D06 0 1.45 1.45 2.2 20 0.11 1,326 below
39.3 40.5 1.2 5.04 2.8 0.02 1,293 below
50.25 52.3 2.05 4.83 3.7 0.01 1,284 48
58 58.6 0.6 53.9 4.8 0.01 1,278 43
145.32 146.43 1.11 20.95 15.4 0.05 1,209 39
157.2 157.7 0.5 11.25 17.3 0.14 1,200 34
197 198.2 1.2 4.73 853 0.15 1,170 below
199.4 200 0.6 2.37 61.9 0.02 1,169 below
293.75 294.75 1 1.31 4.1 0.03 1,098 outside
346 346.7 0.7 3.52 9.6 0.01 1,061 outside
376.7 378 1.3 7.42 31.1 0.02 1,039 outside
447.2 449.05 1.85 3.47 5.9 0.04 989 outside
456.3 458.7 2.4 3.3 14.9 0.03 982 outside
460.85 462.85 2 2.09 21.1 0.02 979 outside
463.55 468.3 4.75 5.09 12.9 0.05 975 outside
473.7 479 5.3 1.73 7.4 0.03 968 outside
484.6 487.2 2.6 3.82 7 0.04 962 outside
588.7 589.5 0.8 2.03 3.6 0.01 895 outside
602.5 604.2 1.7 5.43 2.9 0.01 886 outside
618.2 619 0.8 2 75.9 0.03 876 outside
627.25 627.8 0.55 2.29 17.3 0.01 871 outside
(i) Intercepts calculated at cut-off grades of one gram per tonne gold plus 50
grams per tonne silver for minimum intervals of 0.5 metre, with up to 30-per-
cent internal dilution. True widths not accurately known but generally are
between 30 per cent of the downhole interval and near true width. Drill holes
designated BUUY were collared from underground, and drill holes designated
BUSY were collared at surface. Holes directionally drilled from mother holes
(BUUYDxxx or BUSYDxxx) are designated BUUYxxxDxx or BUSYxxxDxx, as the case
may be.
(ii) Intercepts in vein domains are respectively nominated by vein code (for
example, V34) whereas other intercepts are designated as below or outside of
the current Veta Sur mineral resource envelopes.
Eight holes (BUSY369D04 to BUSY369D11, inclusive) and a further six holes (BUUY289D01 to BUUY289D06, inclusive) were respectively deviated and directionally drilled from mother holes BUSY369D and BUUY289D, to the south of Veta Sur. The deviated holes were drilled to the north and northwest across the Veta Sur system, infilling central areas of the mineral resource envelope as well as targeting potential extensions to depth. Holes drilled to the northwest also targeted potential southwest extensions of the deeper Veta Sur and far western Yaragua systems.
In central Veta Sur, drill holes encountered multiple vein families over 300 metres of vertical and lateral extents with apparent grades times thicknesses generally comparable with or significantly greater than those expected from the current mineral resource block model. Broad and/or high-grade intercepts and related master veins include:
- 10.85 metres at 56.4 grams per tonne gold and 163 grams per tonne silver, including 2.55 metres at 108.1 grams per tonne gold and 320 grams per tonne silver (BUSY369D04, V42, elevation of 1,315
metres);
- 0.7 metre at 77.6 grams per tonne gold and 54 grams per tonne silver (BUSY369D06, V41,
elevation of 1,286 metres);
- 9.75 metres at 26.4 grams per tonne gold and 91 grams per tonne silver, including 1.68 metres
at 105 grams per tonne gold and 366 grams per tonne silver (BUSY369D07, V42, elevation of
1,324 metres);
- 12.0 metres at 27.3 grams per tonne gold and 46 grams per tonne silver, including 1.35 metres
at 142.8 grams per tonne gold and 195 grams per tonne silver (BUSY369D11, V42, elevation of
1,272 metres);
- 0.6 metre at 116.0 grams per tonne gold and 109 grams per tonne silver (BUUY289D02, V34,
elevation of 1,185 metres);
- 14.2 metres at 12.2 grams per tonne gold and 17 grams per tonne silver, including 2.15 metres
at 65.6 grams per tonne gold and 78 grams per tonne silver (BUUY289D02, V31, elevation of
1,152 metres);
- 0.5 metre at 107.5 grams per tonne gold and 91 grams per tonne silver (BUUY289D03, V41,
elevation of 1,237 metres);
- 12.7 metres at 14.8 grams per tonne gold and 87 grams per tonne silver, including two metres
at 74.9 grams per tonne gold and 468 grams per tonne silver (BUUY289D03, V31, elevation of
1,186 metres);
- 1.18 metres at 97.4 grams per tonne gold and six grams per tonne silver (BUUY289D04, V34,
elevation of 1,217 metres).
These and other intercepts in the 1,100-to-1,400-metre range of elevations will contribute to increased confidence levels of high-grade gold and silver mineral resources in master veins of central Veta Sur. The grade times thicknesses encountered are particularly encouraging for potential mining in an area that is close to main haulage development proposed in the 2014 PEA.
Elsewhere in central to western Veta Sur, drilling intersected multiple veins below or to the southwest of the current mineral resource envelope, substantially extending the lateral and vertical extents of northern vein families in this area. Key intercepts and their relationships to the Veta Sur mineral resource envelope include:
-
5.75 metres at 18.6 grams per tonne gold and 31 grams per tonne silver, including 1.3 metres at 58.6 grams per tonne gold and 78 grams per tonne silver (BUSY369D09, elevation of 1,360 metres,
below mineral resource envelope);
- 0.5 metre at 2.7 grams per tonne gold and 903 grams per tonne silver (BUSY369D10, elevation of
1,176 metres, outside mineral resource envelope);
- 1.2 metres at 4.7 grams per tonne gold and 853 grams per tonne silver (BUUY289D06, elevation of
1,170 metres, below mineral resource envelope);
- 4.75 metres at 5.1 grams per tonne gold and 13 grams per tonne silver (BUUY289D06, elevation of
975 metres, outside mineral resource envelope).
These and other extensions of the Veta Sur system shown in the table are all in proximity to mining development proposed in the 2014 PEA.
To the north and west of the current Veta Sur mineral resource envelope, two drill holes (BUSY369D10 (from 517 metres downhole) and BUUY289D05 (from 700 metres downhole)) encountered multiple families of veins that are interpreted to represent as-yet unmodelled northern Veta Sur vein families, and also the farthest yet-drilled western extensions of the Yaragua vein system. Significant intercepts include:
- 1.6 metres at 7.4 grams per tonne gold and 41 grams per tonne silver (BUSY369D10, elevation of
1,081 metres);
- 7.86 metres at 7.2 grams per tonne gold and 29 grams per tonne silver, including 2.14 metres at 19.1 grams per tonne gold and 77 grams per tonne silver (BUUY289D05, elevation of 762 metres);
- 0.93 metre at 11.5 grams per tonne gold and two grams per tonne silver (BUUY289D05, elevation of
718 metres).
Technical information
Dr. Vic Wall, PhD, special adviser to the company and a qualified person for the purpose of National Instrument 43-101, has prepared or supervised the preparation of, or approved, as applicable, the technical information contained in this press release. Dr. Wall is a geologist with 35 years experience in the minerals mining, consulting, exploration and research industries. Following a career in Australian and North American academes, he held senior positions in a number of multinational major and junior minerals companies. A fellow of the Australian Institute of Geoscientists, Dr. Wall is principal of Vic Wall & Associates, a Brisbane-based consultancy that provides geoscientific services to mineral companies and government agencies, worldwide.
The company utilizes a rigorous, industry-standard quality assurance/quality control program. HQ and NQ core is sawn or split with one-half shipped to a sample preparation lab in Medellin run by ALS Colombia Ltd. in Colombia, whereas BQ core samples are full core. Samples are then shipped for analysis to an ALS-certified assay laboratory in Lima, Peru. The remainder of the core is stored in a secured storage facility for future assay verification. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance and a portion of the samples are periodically check assayed at ACME Analytical Laboratories in Vancouver and/or Inspectorate America Corp. in Reno, Nev.
The company does not receive assay results for drill holes in sequential order; however, all significant assay results are publicly reported. A listing of assay results to date for the Buritica project is available on the company's website.
For additional information on the Buritica project, please refer to the 2014 PEA, led by M3 Engineering and Technology of Tucson, Ariz., with contributions from other independent consultants, including NCL Ingeneria y Construccion SPA, which was responsible for the underground mine plan for the project. The 2014 PEA is available on SEDAR, on the OTCQX website and on the company website.
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