Columbus Gold Drills 35.1 Meters of 4.1 g/t Gold At Eastside, Nevada

 

VANCOUVER, BC - Columbus Gold Corp. reported results of the first ten 2016 drill holes and of new geological work completed at its 100% owned Eastside gold project in Nevada.

Highlights of the 2016 drilling include:ES-96 with 35.1 m of 4.1 g/t gold (including 19.8 m of 6.91 g/t gold and 97.3 g/t silver); ES-90 with 13.4 m of 4.06 g/t gold (including 1.38 m of 34.9 g/t gold and 213 g/t silver); ES-91 with 19.7 m of 1.74 g/t gold; ES-89 with 39.2 m of 0.69 g/t gold; ES-94 with 59.5 m of 0.47 g/t gold.

The 2016 drilling employs one reverse circulation rotary rig and one core drill. Columbus has completed over 1,800 meters of core drilling and 4,850 meters of rotary drilling in the 2016 program, with assays pending on many samples. Drilling is ongoing and additional results will be reported after they are received and analyzed. In order to gain a better understanding of where to locate the best grades at the large Eastside property, the current drilling is widely dispersed over a broad area of about 12,500 meters long and 700 meters wide. 

The 2016 drilling has multiple purposes including: 1) deeper drilling in areas where many previous holes bottomed in significant gold and silver values; 2) extension of the deposit laterally into undrilled areas; and 3) obtaining mineralized core from different host rock and alteration types, and at different grades, for metallurgical studies and specific gravity. Preliminary metallurgy indicates that gold at Eastside is amenable to cyanide leaching, whether oxide or sulfide.

Recent mapping, mineralogical analyses, and interpretation of core and rotary cuttings indicate that Eastside is a partially eroded, fossil geothermal/hydrothermal system, associated with a 7.2-million-year-old, rhyolite dome field. During gold/silver mineralization the area was overlain by steam-heated ground characterized by advanced argillic alteration (opal, kaolinite, and alunite), which is barren of gold and silver. Underlying the surficial alteration is a zone 45-150 meters thick where alteration is mostly replacement by chalcedonic silica and kaolinite. This zone contains what has been referred to in previous Eastside press releases as "cloud" gold mineralization, which can be thick and extensive but is irregular in distribution. Better-grade gold and silver underlies the "cloud", and is associated with rhyolite domes and their margins. Alteration in the better grade zones is quartz, illite and adularia, occurring as broad replacements and also in at least five generations of cross-cutting veins and veinlets.

On a regional basis, Eastside gold mineralization occurs in a discrete package of overlapping, rhyolite flow dome complexes which were emplaced and/or erupted 7.2 million years ago. These flow dome complexes are confined to an outcrop belt about 3.2 km (2 miles) wide and 11.2 km (7 miles) long which is completely enclosed in Columbus Gold's claim block. Detailed mapping and sampling of the entire claim block by Columbus geologists has yielded numerous additional targets outside of the area of the current drilling.

The Eastside project has outstanding infrastructure for mining and processing, is 32 km (20 miles) west of Tonopah, Nevada, and lies 9.7 km (6 miles) north of paved highway US 95, the main road route from Las Vegas to Reno. A good County-maintained, gravel road from the highway, along with a major power transmission line both pass through the claim block. The current drilling area is on the east flank of the Monte Cristo Range and a portion of the claim block extends well into the adjacent flats, which would provide excellent operating sites. The valley is known to have shallow water available in the same aquifer, which provided water for milling the Tonopah ores in the early 1900's. The area is high desert with sparse vegetation, and year-round drilling is possible.