Additional Drilling Results from Montagne d'Or

 

VANCOUVER - Columbus Gold Corporation reported on the progress of the Phase II diamond drilling campaign currently underway at its 5.37 million ounce Montagne d'Or gold deposit, Paul Isnard Project, French Guiana.

Forty (40) drill holes have been completed to date, for a total of 4,882 meters, as part as of a 26,600 meter (135 holes) drilling program under the terms of the Nord Gold earn-in option.

The holes drilled to date in the current program are short holes at the northern base of the Montagne d'Or deposit, designed to test the near surface projection of the secondary Lower Favorable Zone (LFZ) and Footwall Zone (FWZ). Some of the holes were collared into the principal Upper Felsic Zone (UFZ) to reach the LFZ. All holes intersected sulphide-gold mineralized intervals.

Gold assay results were released on February 26th for the initial 12 holes (106 to 117) and results have been received for the additional 6 holes (118 to 123). The results reported to date are from holes located along the lower-grade thinner western section of the LFZ. Results for holes located along the higher-grade and thicker eastern section of the LFZ are expected in the upcoming weeks. The Montagne d'Or deposit contains a NI 43-101 compliant inferred gold resource using a cut-off grade of 0.3 grams per tone gold of 5.37 million ounces within 117.1 million tones at an average grade of 1.43 grams per tone gold. Using a cut-off of 1 gram per tone gold a resource of 4.15 million ounces within 58.1 million tones at an average grade of 2.22 grams per tone gold. The resources are defined within a gold mineralized area of 2,250 meters by 400 meters and to an average depth of 250 meters from surface. The mineralized zones remain open in part along strike and at depth.

Diamond drill holes were bored with HQ-size core in the upper oxidized saprolitic zone and NQ size core in fresh rock. The core was placed in plastic core boxes with covers and delivered by the drilling contractor, Performax Drilling Inc., a Canadian company with qualified personnel, to the Citron camp logging facilities, located 5 km from Montagne d'Or. Columbus Gold personnel are present at the camp at all times during the drilling program.