Columbus Gold (CGT.V) has announced it has received the drill permits to start an extensive 175 hole, 45,000 meter drill program at its Eastside oxide gold project in Nevada.
Drilling has already started with one Reverse Circulation drill rig with a second one expected to start drilling by the end of this month. Depending on the initial results, a third rig could be added in the fourth quarter of this year. Meanwhile, Columbus Gold has increased its land position at Eastside to almost 60 square kilometers to make sure all exploration targets are now on Columbus’ land.
We are very excited about this drill program and Andy Wallace of Cordex Exploration thinks this might be Nevada’s next big discovery. The initial size of the target area of 1,600 X 600 meters is already quite impressive, and we’re hoping to see some initial drill results by early August.
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Disclosure: The author holds a long position in Columbus Gold. Columbus is a sponsor of the website. Please see our disclaimer for current positions.
