TORONTO, ONTARIO — (Marketwired) — 10/06/14 — Continental Gold Limited (TSX: CNL)(OTCQX: CGOOF) („Continental“ or the „Company“) is pleased to provide a development update for its flagship Buritica project in Antioquia, Colombia. The Company currently has nine drills on site and is on schedule to complete its Phase V, 60,000-metre diamond drilling program by year-end.
Highlights (Figures 1-5)
About Continental
Continental Gold Limited is an advanced-stage exploration and development company with an extensive portfolio of 100%-owned gold projects in Colombia. Spearheaded by a team with over 40 years of exploration and mining experience in Colombia, the Company is focused on advancing its high-grade Buritica gold project to production.
The scientific and technical information contained in this press release has been reviewed and approved by Mark Moseley-Williams, President and Chief Operating Officer of the Company, who is a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
For additional technical information on the Buritica project, please refer to the Company–s technical report (the „Technical Report“) entitled „Independent Technical Report and Resource Estimate on the Buritica Gold Project 2013“, dated June 25, 2014, with an effective date of December 31, 2013, prepared by Andrew J. Vigar, BAppSc Geo, FAusIMM, MSEG, and Martin Recklies, BAppSc Geo, MAIG, each of Mining Associates Pty Limited, available on SEDAR at on the OTCQX® at and on the Company website at .
Additional details on the Buritica project and the rest of Continental–s suite of gold exploration properties are also available at .
Forward-Looking Statements
This press release contains or refers to forward-looking information under Canadian securities legislation, including statements regarding the estimation of mineral resources, exploration results, potential mineralization, modification of the EIA, completion of a PEA, and exploration and mine development plans, and is based on current expectations that involve a number of business risks and uncertainties. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
Differences in Reporting of Resource Estimates
This press release was prepared in accordance with Canadian standards, which differ in some respects from United States standards. In particular, and without limiting the generality of the foregoing, the terms „inferred mineral resources,“ „indicated mineral resources,“ „measured mineral resources“ and „mineral resources“ used or referenced in this press release are Canadian mining terms as defined in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the „CIM“) Standards on Mineral Resources and Mineral Reserves (the „CIM Standards“). The CIM Standards differ significantly from standards in the United States. While the terms „mineral resource,“ „measured mineral resources,“ „indicated mineral resources,“ and „inferred mineral resources“ are recognized and required by Canadian regulations, they are not defined terms under standards in the United States. „Inferred mineral resources“ have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. Readers are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into reserves. Readers are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. Disclosure of „contained ounces“ in a resource is permitted disclosure under Canadian regulations; however, United States companies are only permitted to report mineralization that does not constitute „reserves“ by standards in the United States as in place tonnage and grade without reference to unit measures. Accordingly, information regarding resources contained or referenced in this press release containing descriptions of our mineral deposits may not be comparable to similar information made public by United States companies.
To view Figure 1 – Buritica Preliminary Development Plan, please click the following link:
To view Figure 2 – Veta Sur Development, please click the following link:
To view Figure 3 – Yaragua Mine – Level 0 Cross-cut, please click the following link:
To view Figure 4 – Yaragua Mine – Level 2 Cross-cut, please click the following link:
To view Figure 5 – Yaragua Ramp, please click the following link:
Contacts: Continental Gold Ltd. +1.416.583.5610
Only registered users can comment.
