Tuesday 6th December 2016

Resource Clips


Posts tagged ‘french guiana’

Under the rainbows

February 5th, 2013

Columbus, Aquila/Hudbay and Evolving find gold in French Guiana, Michigan and Nevada

by Greg Klein

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To put some perspective on its Paul Isnard property in French Guiana, Columbus Gold TSXV:CGT likes to go back in time—roughly 225 million years. That’s before tectonic forces tore apart the planet’s one and only continent. The present-day Caribbean coast of South America was then joined to present-day northwestern Africa. Consequently there’s continuity, the company contends, between South America’s Guiana Shield and the Birimian Shield of gold-rich countries like Guinea, the Ivory Coast, Burkina Faso and Ghana. Thanks to that geology, Columbus has boosted its inferred resource by 184% to 5.37 million gold ounces.

As announced on February 5, the project’s Montagne d’Or resource update uses a low cutoff of 0.3 grams per tonne for a deposit starting at surface and reaching an average vertical depth of 247 metres. The company provided additional numbers for higher cutoff grades:

  • with a 0.3 g/t cutoff, 117.1 million tonnes averaging 1.43 g/t for 5.37 million ounces
  • with a 0.4 g/t cutoff, 111.2 million tonnes averaging 1.48 g/t for 5.3 million ounces
  • with a 0.5 g/t cutoff, 101.9 million tonnes averaging 1.58 g/t for 5.17 million ounces
  • with a 0.7 g/t cutoff, 81.7 million tonnes averaging 1.82 g/t for 4.78 million ounces
  • with a 1 g/t cutoff, 58.1 million tonnes averaging 2.22 g/t for 4.15 million ounces.
A rainbow seen from Evolving Gold’s Carlin project adds a storybook touch to geological exploration

A rainbow seen from Evolving Gold’s Carlin project
adds a storybook touch to mineral exploration.

The update uses a 16 g/t topcut as compared to the previous 1.89-million-ounce resource, which used a 30 g/t topcut and 0.4 g/t cutoff.

In a statement accompanying the announcement, Columbus chairman/CEO Robert Giustra said modelling “has also identified gaps within the deposit envelope where additional drilling has the potential to add ounces and where tighter drilling may upgrade some or all of the inferred resources to the indicated category. Additional expansion potential is also suggested by untested geochemical anomalies extending more than three kilometres along strike, by incompletely tested parallel zones of gold mineralization, and at depth.”

The 149-square-kilometre Paul Isnard project includes a 65-person camp with airstrip on a forest road connecting to a highway 115 kilometres from the port of St. Laurent.

Columbus shares opened February 5 at $0.355, seven cents above the previous close, and hit $0.425 before settling on a $0.365 close.

Another resource update, announced February 4, comes from Michigan’s Back Forty project, a 49/51 joint venture of Aquila Resources TSX:AQA and Hudbay Minerals TSX:HBM. The global resource shows:

  • measured and indicated resources of 987,236 gold ounces, 11.91 million silver ounces, 110.43 million copper pounds, 74.3 million lead pounds and 1.02 billion zinc pounds
  • an inferred resource of 155,885 gold ounces, 1.99 million silver ounces, 18.65 million copper pounds, 17.21 million lead pounds and 113.33 million zinc pounds.

The estimate provides separate numbers for open pit and underground resources. The open pit estimate shows:

  • measured and indicated resources of 640,663 gold ounces, 6.96 million silver ounces, 72.27 million copper pounds, 36.22 million lead pounds and 525.54 million zinc pounds.

The underground estimate shows:

  • measured and indicated resources of 346,572 gold ounces, 4.95 million silver ounces, 38.16 million copper pounds, 38.07 million lead pounds and 496.13 million zinc pounds

  • an inferred resource of 142,351 gold ounces, 1.82 million silver ounces, 18.02 million copper pounds, 15.9 million lead pounds and 103.7 million zinc pounds.

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Supersized Coffee

December 13th, 2012

Gold news from Kaminak, Columbus and Continental

by Greg Klein

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Over three million inferred gold ounces mark the debut resource estimate from Kaminak Gold’s TSXV:KAM Coffee Project in Yukon’s White Gold District. With its initial resource complete and metallurgical studies continuing, the company’s ready to begin a PEA next year, according to a December 13 announcement.

Gold news from Kaminak, Columbus and Continental

Two and a half years’ work at Kaminak Gold’s Coffee Project paid off
with a maiden resource totalling 3.24 million gold ounces inferred.

Coffee’s base case resource uses a lower cutoff for oxide and transitional mineralization than for sulphide material, on the principle that oxide and transitional mineralization might be extracted through open-pit mining and heap-leach metallurgy. The resource contains 90% oxide and transitional material to a vertical depth of about 200 metres, the company stated, and 55% oxide and transitional to a depth of 100 metres.

The company added that the resource shows “relatively continuous, sub-vertical zones of gold mineralization” with potential for surface-, underground- or a combination of both mining techniques. The resource covers four zones of the Coffee Project.

Using a base case cutoff of 0.5 grams per tonne gold for both oxide and transitional mineralization, and 1 g/t for sulphide mineralization, the inferred resource totals:

  • 64.42 million tonnes averaging 1.56 g/t gold for 3.24 million gold ounces.

Using a 1 g/t cutoff for all types of mineralization, the inferred resource totals:

  • 36.52 million tonnes averaging 2.21 g/t for 2.6 million gold ounces.

Using a 1.5 g/t cutoff, the inferred resource totals:

  • 21.1 million tonnes averaging 2.93 g/t for 1.99 million gold ounces.

In a company statement Kaminak president/CEO Rob Carpenter said, “The drilling strike rate and continuity of the mineralized structures at shallow depths show that our strategy and targeting technique—that is, drilling gold-in-soil anomalies—is highly effective in this geological terrain. Based on the surface footprints of currently known gold-in-soil anomalies, Kaminak geologists see considerable expansion potential along strike from the current resource and elsewhere on the [60,700-hectare] Coffee Project.”

Kaminak has $16 million cash and no debt, the company stated. Its shares closed December 12 at $1.26, opened December 13 at $1.36 and reached a high of $1.47 before closing on $1.29.

In other December 13 news, Columbus Gold TSXV:CGT said a step-out hole at its Paul Isnard Project in French Guiana increases its resource potential. Assays for the hole showed 1.07 g/t gold over 40 metres (with a true width estimated at 75%), stopping at a down-hole depth of 180 metres.

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Columbus reports French Guiana Gold Assays including 1.94 g/t over 130m

April 18th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningColumbus Gold Corporation TSXV:CGT announced drill results from the Montagne d’Or gold deposit of its Paul Isnard project in French Guiana. Highlights include

17.82 g/t gold over 2 metres
14.22 g/t over 2 metres
1.94 g/t over 130 metres (including 4.6 g/t over 49 metres)
1.69 g/t over 6 metres
8.47 g/t over 3 metres
1.37 g/t over 67 metres (including 6.57 g/t over 10 metres)
1.08 g/t over 52 metres

The Montagne d’Or deposit has an inferred NI 43-101 resource estimate of 1.9 million ounces gold.

View Company Profile

Contact:
Columbus Gold Corporation
Investor Relations
604.634.0970

by Ted Niles

Columbus reports French Guiana Gold Results of 1.41 g/t over 127m

March 19th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningColumbus Gold Corp TSXV:CGT announced assays from its Paul Isnard Gold Project in French Guiana. Results include

1.41 g/t gold over 127 metres
(including 1.56 g/t over 110 metres)
0.76 g/t over 157 metres
(including 2.23 g/t over 15 metres)
27.51 g/t over 3 metres
0.55 g/t over 155 metres
(including 2.06 g/t over 11 metres)
0.74 g/t over 39 metres
(including 2.02 g/t over 29 metres)
0.82 g/t over 28 metres
(including 2.16 g/t over 7 metres)

Columbus holds an option to earn a 100% interest in Paul Isnard subject to underlying third-party royalties. CEO Robert Giustra commented: “These latest drill results confirm continuity of gold mineralization between widely spaced historic holes which are up to 200 metres apart. They complement the results announced on March 2 by reaffirming that gold mineralization extends to 200 metres vertical depth from surface not only in historically drilled areas but also in areas with wide undrilled gaps and 50 metres to the west of the exiting 1.9-million-ounce deposit envelope. Given the positive outcome of the drilling results to date, we have resolved to secure a second drill rig as soon as possible to accelerate the program.”

View Company Profile

Contact:
Investor Relations
604.634.0970
888.818.1364

by Greg Klein

Columbus reports French Guiana Results including 1.97 g/t Gold over 102m

March 2nd, 2012

Resource Clips - essential news on junior gold mining and junior silver miningColumbus Gold Corp TSXV:CGT announced assays from its Paul Isnard Gold Project in French Guiana. Results include

1.97 g/t gold over 102 metres
(including 7.39 g/t over 23 metres)
1.6 g/t over 85 metres
(including 6.02 g/t over 10 metres)
1.21 g/t over 80 metres
(including 28.74 g/t over 2 metres)
0.86 g/t over 91 metres
2.07 g/t over 32 metres
(including 3.85 g/t over 15 metres)
1.5 g/t over 29 metres

CEO Robert Giustra commented, “These drill results validate Columbus Gold’s approach to adding ounces with a lower-risk drilling program designed to infill and extend the mineralized zones to 200 metres vertical depth from surface, a depth amenable to open-pit mining. Interestingly, some of the widths of the mineralized zones reported in these initial holes exceed our expectations and reinforce our high level of confidence with respect to the ultimate size potential of the Montagne d’Or Gold Deposit at Paul Isnard.”

View Company Profile

Contact:
Columbus Gold Corp
Investor Relations
604.634.0970
888.818.1364

by Greg Klein