Step-Out Drilling at Paul Isnard Extends Mineralization

 

VANCOUVER - Columbus Gold Corporation reported results of the final drill hole MO 12-99 of its recently completed Phase I drilling program at the Montagne d'Or gold deposit on its 100% owned Paul Isnard Project in French Guiana. The Phase I drilling program consisted of 45 diamond core holes totaling 15,824 metres. Drill hole MO 12-99 was a step-out hole, located 150 metres west of the earlier drilling which outlined a 43-101 compliant inferred gold resource of 1.9 million ounces within 36 million tonnes grading 1.6 gpt gold. MO 12-99 intercepted a 40 metre interval averaging 1.07 grams per tonne gold (31 metres averaging 1.35 gpt gold after removal of two internal post-mineral dikes) within the principal Upper Felsic (UFZ) mineralized zone.

Columbus Gold considers drill hole MO 12-99 particularly important since it has significantly increased potential of the Montagne d'Or deposit outside the originally defined 1.9 million ounce mineralized envelope and resource area where the other Phase I drill holes focused on resource expansion internally and immediately below the defined deposit.

With the Phase I drill program at Paul Isnard now complete, Columbus Gold is commissioning a resource update and reviewing and interpreting full drill results in preparation for implementation of a planned Phase II program, for a further 15,000 metres, designed to further expand the Montagne d'Or gold deposit and convert inferred resources to an indicated category.

The Montagne d'Or gold deposit is made up of multiple east-west striking, south-dipping bands of gold mineralization, including the principal UFZ and LFZ with an aggregate average thickness of about 70 metres, which have now been traced by drilling for a strike length of 2,250 metres and a vertical depth in excess of 200 metres. The zones remain open in part along strike and at depth. Lower grade bands of mineralization also occur above and below the principal UFZ and LFZ but are less well defined.