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columbus gold corp (CGT) Snapshot

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52 Week High
03/6/14 - C$0.63
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Market Cap
63.2M
Average Volume 10 Days
108.5K
EPS TTM
C$-0.03
Shares Outstanding
135.8M
EX-Date
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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 Completes 25,570 Meter Phase II Drill Program at Montagne D'or Gold Deposit, French Guiana

Columbus Gold Corporation announced the completion of the Phase II resource development diamond drilling campaign on its 100%-owned Montagne d'Or gold deposit, Paul Isnard Project, French Guiana. The phase II program amounted to 126 holes, for a total of 25,570 meters. In addition, 6 large diameter HQ-calibre core holes totaling 975 meters were completed for the detailed metallurgical tests in progress. Assay results were released for 73 holes and results are pending for the remaining 53 holes of the program drilled within the principal Upper Felsic Zone. The objectives of the Phase II drill program at the Montagne d'Or Gold Deposit were to: complete a 50-meter spacing array over a strike extent of 2,300 meters to a vertical depth of 200 meters from surface, focused on mineralisation potentially amenable to open pit mining; increase current mineralised tonnage within the deposit; increase confidence in the gold grade-width distribution and acquire a better distribution of copper assays for added value to the deposit. An updated resource estimate, combined with concurrent detailed metallurgical tests and a preliminary environmental assessment are on target to support the completion of a Preliminary Economic Assessment on the Montagne d'Or deposit in early 2015.

Columbus Gold Corporation Announces Drill Results from Additional 9 Holes from Phase II at Montagne d'Or

Columbus Gold Corporation announced the drill results from an additional 9 holes from its Phase II resource development diamond drilling campaign currently underway at its 100%-owned Montagne d'Or gold deposit, Paul Isnard Project, in French Guiana. To date 106 holes (106 to 203 and 206 to 213) have been completed, for a total of 20,750 meters. Holes 170, 171, 172, 173 and 180 were planned to better define the west-central section of the principal Upper Felsic Zone (UFZ) of the deposit. Holes 174, 175, 181 and 182 were planned to better define the east-central section of the UFZ. All holes cut thick sulphide-gold mineralized intervals. Holes 170, 173 and 174 were extended to test the secondary Lower Favorable Zone (LFZ) at depth and returned notable gold mineralized intersection from this zone. The Montagne d'Or gold deposit is presently defined over 2,500-meter by 400-meters and to an average depth of 250 meters from surface. The mineralized zones remain open in part along strike, between widely spaced holes, and at depth. Utilizing a cut-off grade of 0.4 g/t gold, the Montagne d'Or deposit hosts an Inferred resource of 140.1 million tonnes grading 1.0 g/t gold for a total of 4.31 million contained ounces of gold. The drilling is being funded by Nord Gold N.V. as part of a minimum $30 million exploration and development program pursuant to which they can earn a 50.01% interest in Montagne d'Or and the Paul Isnard mineral claims, by completing a bankable feasibility study no later than March 2017. The drill program is currently advancing with three track-mounted diamond drill rigs, each operating on two 12-hour shifts per day, with the aim of completing the Phase II program in the first week of November 2014. Gold assay results were previously released for 58 short holes (106 to 163), which were completed at the northern foothill of Montagne d'Or massif and designed to test the near surface projection of the secondary LFZ and FWZ, and 6 holes (164 to 169) completed along the west portion of the main UFZ. The objectives of the Phase II resource development diamond drill program are to: Complete a 50-meter spacing array to a vertical depth of 200 meters from surface, focused on mineralization potentially amenable to open pit mining; Internally increase current mineralized tonnage; Increase confidence in the gold grade-width distribution; Convert portions of the Inferred resources to the Indicated and Measured categories in accordance with NI 43-101 standards; and Acquire a better distribution of copper assays for added value to the deposit. The core was photographed for reference, logged (geotechnical and geological) and identified sulphide mineralized sections were sawed in half. Sample lengths vary between 0.5 to 1.5 meters. Individual half core samples were placed and sealed in heavy duty cellophane plastic bags and placed by batch of 9 samples in sealed polypropylene bags for air transport to the Cayenne and trucking to Filab Amsud laboratory in Paramaribo, Suriname, an ISO 9001 and ISO /IEC 17025 accredited laboratory. The remaining half core is stored in core racks on site at Citron camp for reference. Samples were assayed for gold by fire-assay method using an atomic absorption finish on a 50-gram pulp split and ICP-MS multi-element analysis, including copper. A quality assurance and quality control program (QA/QC) was implemented by Columbus Gold and Filab Amsud to insure the accuracy and reproducibility of the analytical method and results. The QA/QC program includes the insertion of gold and copper standards, blanks and field duplicates in each laboratory assay batch and systematic re-assaying of samples returning values above 5 g/t Au by the fire-assay method using a gravimetric finish on a 50-gram pulp split. As well, 10% of random sample pulps are sent to SGS del Peru S.A.C. laboratory for gold check assaying.

Columbus Gold Corporation Reports Five New Drill Target at its 100% Controlled Eastside Gold Discovery in Nevada

Columbus Gold Corporation reported identification of five new drill targets, which suggest the potential for district scale, at its 100% controlled Eastside gold discovery in Nevada. Assays results from the newly identified targets have yielded anomalous to 24 g/t gold in outcrop and float samples. The Original Target at Eastside hosts a large area of shallow oxide gold mineralization still open to the south that measures about 1,600 meters long and up to 600 meters wide (5,280 ft by 1,980 ft). Columbus is in the process of permitting a program at the Original Target that will include 14,455 meters (47,700 ft) of new drill roads and 175 drill sites that can be used for multiple drill holes. Commencing in January 2015, Columbus plans to drill 64,400 meters (212,500 ft) in 250 rotary holes [along with 2,576 meters (8,500 ft) in 10-12 core holes for detailed metallurgy] with the aim of completing an initial resource calculation at Eastside in late 2015. As part of the 250 rotary hole drill program, 15-25 holes are planned to test two of the five new targets. Columbus Gold geologists have completed geologic mapping which now extends over the entire 46.4 km(2) (17.9 miles(2)) Eastside claim block at a scale of 1:6000. This mapping has identified 41 separate rhyolite domes, which Columbus knows to be important for controlling gold mineralization at Eastside. The domes range from 100 meters to 1,000 meters in diameter (328 ft to 3,280 ft). Hydrothermal alteration has been identified in, or near, about half the domes. Dozens of faults have been identified and mapped throughout the claim block, mostly trending north and northeast. Areas with hydrothermal alteration, particularly silicification and quartz veining, have been mapped, and sampling of all these altered areas is in progress with 2,700 samples collected so far. Based on results received to date, Columbus believes the following 5 new targets are worthy of drilling, with New Target 1 and New Target 4, which are located outside of the Original Target area, for priority drilling in 2015. Surface sampling of outcrop and float define New Target 1, which is a 2 km (1.25 mi) long gold anomaly along a northerly structural zone. On its north end the anomaly coincides with the west-dipping margin of rhyolite domes. To the south the gold values are in andesite, along northerly faults that either vertical or dip to the west. Gold values are associated with silicification, argillization, and quartz/adularia stockworks and are hosted in both rhyolite and andesite. New Target 2 is a 1 km (0.62 mi) long anomaly. The northernmost end of New Target 2 is 500 meters (1,640 ft) south of the southernmost drill hole in Columbus' 2013 drilling at the Original Target, and is likely a southern extension of the Original Target. New Target 2 is associated with silicification of rhyolite tuffs along the western margins of a series of rhyolite domes. Eighty (80) float and outcrop samples have been collected in New Target 2 yielding anomalies in gold (anomalous to 0.6 g/t gold), arsenic (0-600 ppm), antimony (0-19 ppm), and molybdenum (0-32 ppm). Silver values in surface sampling are negligible in New Target 2, much as they are in the Original Target. Sampling is just beginning at New Target 3. Two initial samples yielded significant values - one ran 24 g/t gold and 354 ppm silver, and the second ran 1.04 g/t gold and 23 ppm silver. Both samples were of narrow veins (about 1 foot wide) cutting altered dacite and dacite tuffs. The veins have banded quartz, with some bands of quartz replacing calcite. Argillic alteration and iron-staining are common in the area. New Target 4 is a geophysical target located just 150 meters (492 ft) north of the Original Target drilled by Columbus in 2013, in an area thought to have 2 to 10 meters (6.5 to 33 ft) of gravel cover. CSAMT geophysical data indicates the presence of a buried rhyolite dome, likely the same as the rhyolite domes 200 meters (656 ft) south which are known from Columbus 2013 drilling to host significant gold mineralization. The buried rhyolite dome appears to be at least 200 meters (656 ft) in diameter and its top likely lies 50 - 75 meters (164 - 246 ft) below the surface. New Target 5 is about 8 km (5 miles) south of the Original Target drilled by Columbus in 2013. Forty samples indicate a geochemical anomaly about 2 km (1.25 mi) long and up to 0.75 km (0.47 mi) wide. The anomaly has coincident gold (anomalous to 1.05 g/t), arsenic (0-464 ppm), antimony (0-240 ppm) and molybdenum (0-69 ppm). Two surface samples contained significant silver, one 24 ppm and the other 93 ppm silver.

 

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