Columbus Gold (CGT.V) has released more drill results to the market from its ongoing drill program at the Paul Isnard project. The continuity of the mineralized system seems to be confirmed with impressive intercepts such as 142 meters containing 1.21 g/t gold and 87 meters of 1.4 g/t.
These are the results from an extensive 126 hole drill program at Paul Isnard which was fully funded by Nordgold as part of its commitment to spend $30M in exploration expenses to gain a 50.01% stake in the project. 21 holes are still pending and we have no doubt the mineralization will prove to be continuous. The results of the 2014 drill program will be incorporated in an updated resource estimate which will be the basis of a Preliminary Economic Assessment.
We are really looking forward to the PEA as this will give us a first indication of the economics at Paul Isnard. There’s no doubt the total resources (which currently stand at 4.31 million ounces) at the project will continue to grow as the mineralization still seems to be open to the west and at depth.
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Disclosure: The author holds a long position in Columbus Gold. Please see our disclaimer for current positions.
