Columbus Gold Corporation is pleased to announce the results of its 1,976 metres (6,483 feet) Phase II reverse circulation drilling program at its Golden Mile Project completed in late 2006. Gold mineralization at Golden Mile occurs in the Central Zone, which was the focus of historic drilling and the target of the Company's 15 hole, Phase I drilling (see news release dated August 14, 2006), and also in the West Zone which had historic drilling with shallow, low-grade gold intercepts. The West Zone, which has not been drilled by Columbus Gold to date, is located approximately 230 m (750 feet) west of the south end of the Central Zone.
The Phase II drill program was designed to test the possible extension of the mineralization found in the Central Zone in Phase I drilling (hole MI-6, 7.6 m of 4.2 g/t gold, and hole MI-12, 9.1 m of 13.8 g/t gold) to the north, under post-ore volcanic cover. The second goal of the program was to explore the undrilled area between the Central Zone and the West Zone.
The gold mineralization in the Central Zone is structurally controlled, both in an intrusive rock and in the wall rocks (skarn) of the intrusive, with erratic grades and widths. The intercepts in the recent drilling to the north of the Central Zone are all hosted in intrusive rock, and much greater thicknesses of continuous low-grade material were encountered (best holes MI-22 with 57.9 m (190 feet) of 0.65 g/t (0.019 opt) Au, and MI-16 with 80.8 m (265 feet) of 0.39 g/t (0.0114 opt) Au. This mineralization, although low-grade, presents a very large volume target, and remains open north, west, east, and down-dip of the current drilling.
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