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Drilling Program Encounters Au-Ag At Bolo Gold Project

VANCOUVER, - Columbus Gold Corp. reported results of its 2013 drilling program at its Bolo gold project, located northeast of Tonopah, Nevada. Subject to underlying royalties, Bolo is 100% controlled by Columbus Gold. The 2013 drilling program consisted of 11,400 feet (3,475 meters) in 19 RC drill holes and was designed to test additional targets and for expansion drilling in the area (known as the South Zone) around discovery drill hole BL-23, which cut 30 meters of 2.38 grams per tonne (“g/t”) gold in 2008 drilling. 

The 2013 drilling in the South Zone at Bolo cut significant intercepts of good grade gold over considerable thicknesses. Drill holes BL-38, BL-39 and BL-41 were noteworthy. Drill hole BL-38 cut 133 meters from surface of 1.28 g/t, which included 30.5 meters of 3.24 g/t gold. BL-39 cut 41 meters of 2.05 g/t gold from surface. BL-41 cut 51.5 meters of 1.27 g/t gold from surface, which included 16.8 meters of 2.15 g/t gold. 

All mineralization is logged as “oxidized” and is Carlin-type, associated with weak silicification and decalcification of Paleozoic sedimentary rocks. The gold mineralization at the South Zone at Bolo is more pipe-like in shape than anticipated. The pipe rakes steeply to the south and remains open at depth. 

Significant silver was also cut in the drilling (up to 3 meters of 360.5 g/t within 28.8 meters of 57.6 g/t silver in drill hole BL-37) and will contribute value. All silver assays reported to date in Columbus Gold’s drilling at Bolo have been done using ICP analysis. 

Recent preliminary check samples using fire assay on silver indicate that the ICP technique appears to be understating the silver grade (8 check samples out of 10 showed 40-150% more silver using fire assay). All reported gold assays at Bolo are not in question as considerable check sampling shows gold values check well. Columbus Gold has commenced more comprehensive checks on all silver assays from the 2013 drilling, as well as past Bolo drilling by Columbus Gold, using the fire assay technique with a total of 260 samples with significant silver being checked.