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columbus gold corp (CGT) Details

Columbus Gold Corporation acquires, explores, and develops mineral properties in the United States and French Guiana. The company owns a 100% interest in the Paul Isnard gold project that consists of 8 mining concessions and a pending exploration permit application covering 190 square kilometer located in the northwestern region of French Guiana, South America. It also owns interests in other projects that are located in Nevada and Arizona. The company was formerly known as Purple Vein Resources Ltd. and changed its name to Columbus Gold Corporation in December 2004. Columbus Gold Corporation was incorporated in 2003 and is headquartered in Vancouver, Canada.

Founded in 2003

columbus gold corp (CGT) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: C$150.0K
Chief Financial Officer
Total Annual Compensation: C$35.7K
Chief Operating Officer
Total Annual Compensation: C$126.0K
Compensation as of Fiscal Year 2013.

columbus gold corp (CGT) Key Developments

Columbus Gold Corporation Reports Results of Initial Metallurgical Tests on Gold and Silver Mineralization at its Eastside Gold Project in Esmeralda County, Nevada

Columbus Gold Corporation reported the results of initial metallurgical tests on gold and silver mineralization at its Eastside gold project in Esmeralda County, Nevada. Fourteen samples of rotary drill cuttings were selected for the initial metallurgical tests using 92 hour, cyanide-leach, bottle roll tests. Testwork was performed by Kappes, Cassiday, and Associates (KCA) in Reno, Nevada. The samples were selected to represent a wide range of gold and silver grade, differing depths below the surface, differing areas of the deposit, and differing oxidation. One split of each of the fourteen samples was ground to 80% passing 200 mesh. The average recovery from cyanide leaching of this ground material was 95% for gold and 52% for silver. The gold recoveries ranged from 85% to 99% and the silver recoveries ranged from 27% to 79%. Almost all gold mineralization drilled at Eastside is oxidized with the exception of only one deep intercept in Hole ES-32 which was unoxidized and sulfide-bearing, but is amenable to leaching with cyanide as shown by the KCA leach results of the sample taken from the 965-970 ft (294-296 meters) deep intercept in vertical hole ES-32. The gold recovery from this unoxidized sample was 95% and the silver recovery was 79%. In addition a second split of each of the 14 drill samples was processed "as is", or exactly as collected at the drill, with no grinding or crushing. These samples varied greatly from sample to sample in the amount of coarse and fine material present. The large fragments of solid rock ranged up to 3/4 of an inch (19 mm) in size. On the other hand, some of the samples had little rock above 1/2 inch in size (12 mm). A visual estimate of the amount of coarse versus fine material in each sample, and the maximum fragment sizes present, is contained in the KCA. The recoveries from the 14 "as is" samples by cyanide leaching for 92 hours averaged 57% for gold and 18% for silver. The range of recoveries from the "as is" samples was extreme, ranging from 20% to 85% for gold, and from 6% to 52% for silver. The wide range in results does not seem to be due to grade, depth, oxidation, or alteration type, but rather to the variation in the amount of coarse material in the samples. Further testing is in progress, beginning with screen analysis of raw samples. The purpose of metallurgical tests on "as is" materials is to begin to understand if Eastside gold mineralization might be processed by heap leach techniques, although it is impossible to predict actual recoveries from such preliminary testing. Much larger samples, usually obtained by core drilling, and metallurgical testing of that core, including column leach tests, will be necessary before one can more accurately predict heap leach recoveries and properly evaluate crushing. Columbus management believes that these results are sufficiently encouraging to proceed with further testing. Core drilling is planned as part of the next drilling program currently being permitted. Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical content. Mr. Wallace is a director of Columbus Gold and the principal of Cordilleran Exploration Company (Cordex), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.

Columbus Gold Corp. Announces Resource Estimate at Montagne d'Or Gold Deposit, Paul Isnard Project, French Guiana

Columbus Gold Corporation announced the results of a resource estimate, dated June 28, 2014, prepared by independent consultant Coffey Mining Pty Ltd. on Columbus Gold's Montagne d'Or gold deposit, Paul Isnard Project, French Guiana. Utilizing a cut-off grade of 0.4 g/t gold, the estimate yields 140.1 million tonnes at an average grade of 1 g/t gold for a total of 4.31 million contained Inferred ounces of gold. Based on the current drilling density, the estimate does not fully take into account the potential of the high grade zones occurring within the low grade envelopes. Coffey strongly recommends infill drilling to define these high grade zones. The best mineralised and most consistent zones on the Montagne d'Or deposit, based on current interpretation, are located in the principal Upper Felsic Zone. The drilling permits required to drill the UFZ were very recently obtained on June 16, 2014 and the present 26,600 metre Phase II drilling program, designed to complete a tighter drill pattern at 50 metre spacing, commenced on the UFZ on June 23, 2014 and on a 24 hour basis. There are approximately 19,000 metres remaining in the planned Phase II program, which on deployment of a second drill rig, expected to arrive imminently in French Guiana, will take approximately 4 months to complete.

Columbus Gold Corp. Announces Additional Drilling Results from Montagne d'Or Including 7.35 g/t Gold over 7.8 Meters

Columbus Gold Corp. reported on the progress of the Phase II diamond drilling campaign currently underway at its Montagne d'Or gold deposit, Paul Isnard Project, French Guiana. Forty-seven (47) drill holes (106 to 152) have been completed, for a total of 5,900 metres, as part as of a 26,600 metre (135 holes) drilling program. In addition, six (6) large diameter HQ-calibre core holes (1,000 m) were completed for detailed metallurgical testing as part of a preliminary economic assessment study (PEA). A second track-mounted diamond drill rig has been shipped from Canada and is expected to arrive on site in May with the aim of completing the Phase II program in September. The holes drilled to date in the current program are short holes at the northern base of the Montagne d'Or deposit, designed to test the near surface projection of the secondary Lower Favorable Zone ("LFZ") and Footwall Zone ("FWZ"). Some of the holes were collared into the principal Upper Felsic Zone ("UFZ") to reach the LFZ. All holes intersected sulphide-gold mineralised intervals. The intersections in holes 124, 125 and 127 have extended the LFZ over a strike extent of 200 metres to the west and the zone remains open in that direction; The intersections in holes 132, 134 and 135 and 137 served to better define a well-mineralised section of the LFZ located in the east-central part of the Montagne d'Or deposit; The intersection in hole 141 has opened-up the potential to extend the LFZ to the east and the zone remains open in that direction. The Montagne d'Or deposit contains a NI 43-101 compliant inferred gold resource using a cut-off grade of 0.3 grams per tonne gold of 5.37 million ounces within 117.1 million tonnes at an average grade of 1.43 grams per tonne gold. The resources are defined within a gold mineralized area of 2,250 meters by 400 meters and to an average depth of 250 meters from surface. The mineralized zones remain open in part along strike and at depth. The objectives of the Phase II drilling program are to: complete a 50-meter spacing array to a vertical depth of 200 meters from surface, and select 25-meter in-fill, focused on mineralization potentially amenable to open pit mining; internally increase current mineralized tonnage; increase confidence in the gold grade-width distribution; convert inferred resources to the indicated category in accordance with NI 43-101 standards; acquire a better distribution of copper assays for added value to the deposit.


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