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'Remarkable' result at Buriticá

Continental Gold (TSX: CNL) has reported “a remarkable sub-interval” of 0.6m at 2,851.25g/t gold-equivalent from drilling at Buriticá as it pushes its Colombian project towards commercial production in 2020.
'Remarkable' result at Buriticá 'Remarkable' result at Buriticá 'Remarkable' result at Buriticá 'Remarkable' result at Buriticá 'Remarkable' result at Buriticá

Continental’s Buriticá build is past the half-way mark

Staff reporter

The above-mentioned intercept was part of a broader 17.2m at 100.24g/t Au-eq, described as the second-highest grade by thickness interval of gold mineralisation to date from the broad mineralised zone 1 (BMZ1).

The company also reported further high-grade intercepts from definition drilling at BMZ1, including 40.75m at 8.03g/t gold and 10.7g/t silver; and from two holes south of BMZ1 in the Yaraguá system, including 17.8m at 5.07g/t gold and 11.1g/t silver.

The Newmont Mining-backed developer had reported a resource for BMZ1 last month, with a measured and indicated 828,870 tonnes grading 14.15g/t gold and 22.9g/t silver, for 377,000oz gold and 611,000oz silver.  

"With eight definition and two exploration drill rigs active on the property, we anticipate making positive progress in defining BMZ's [resource] ahead of an updated mine plan prior to the commencement of production, discovering new mineralised areas in the eastern Yaraguá system and confirming production stope locations for mining," CEO Ari Sussman said.

Continental last week said Buriticá's development was 56% complete and on track for its first gold pour in the first half of next year, thanks to a US$175 million finance arrangement last month with support from Newmont and a $100 million gold and silver stream with Triple Flag Mining Finance.
 
It is currently expecting to produce an estimated 3.5 million ounces of gold over a 14-year mine life.

Continental shares were trading about C$3.50 a year ago but fell to $1.76 in January.

They have since been on the rise and closed 0.5c higher yesterday to $2.86 to capitalise it about $541 million.