Last C$1.74 CAD
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continental gold ltd (CNL) Snapshot

Open
C$1.83
Previous Close
C$1.73
Day High
C$1.85
Day Low
C$1.74
52 Week High
02/27/14 - C$5.43
52 Week Low
10/31/14 - C$1.61
Market Cap
221.3M
Average Volume 10 Days
2.6M
EPS TTM
C$-0.17
Shares Outstanding
127.2M
EX-Date
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P/E TM
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Current Stock Chart for CONTINENTAL GOLD LTD (CNL)

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continental gold ltd (CNL) Details

Continental Gold Limited is engaged in the acquisition, exploration, evaluation and development of gold resource properties in Colombia. The company’s principal property, the Buriticá project, comprises 15 registered concessions covering approximately 13,729 hectares in north-western Colombia. It also holds the rights to explore and develop 4 properties in Colombia, covering approximately 154,822 hectares, including 33 registered concession contracts covering approximately 54,896 hectares, 63 applications with technical study covering approximately 91,887 hectares, and 11 pending concession applications covering approximately 8,039 hectares. The company was founded in 2007 and is based in Toronto, Canada.

489 Employees
Last Reported Date: 03/6/14
Founded in 2007

continental gold ltd (CNL) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $470.1K
President and Chief Operating Officer
Total Annual Compensation: $391.6K
Chief Financial Officer
Total Annual Compensation: $282.1K
Executive Vice President, Director and Member...
Total Annual Compensation: $250.3K
Vice President of Exploration
Total Annual Compensation: $248.0K
Compensation as of Fiscal Year 2013.

continental gold ltd (CNL) Key Developments

Continental Gold Limited(TSX:CNL) dropped from S&P/TSX Global Mining Index

Continental Gold Limited(TSX:CNL) dropped from S&P/TSX Global Mining Index

Continental Gold Limited Announces Sampling Results from Both the Main Cross-Cut and Drift Accessing the Veta Sur Vein System at Buriticá Project in Antioquia, Colombia

Continental Gold Limited announced initial channel sampling results from both the main cross-cut and drift accessing the Veta Sur Vein System at the company's 100%-owned Buriticá project in Antioquia, Colombia. Approximately 800 metres of total underground development accessing Veta Sur has been completed to date with development face dimensions averaging 3.5 metres X 3.5 metres. This underground development program has provided the Company with its first ever underground access into the Veta Sur deposit and is expected to be completed by the end of November 2014. Initial results from systematic channel sampling of both the cross-cut and along Vein 62 and Vein 51 through the central Veta Sur system have ratified the locations and orientation of several veins in the current mineral resource model. Continuous channel sampling along the Veta Sur cross-cut intersected 18 veins and intervening mineralized material including, from the 180th metre of the cross-cut, a broad high-grade zone comprising: 30 metres (true horizontal width) @ 9.6 g/t gold and 47 g/t silver. Continental's 100%-owned, 62,425-hectare project, Buriticá, contains several known areas of high-grade gold and silver mineralization, of base metal carbonate-style ("Stage I") variably overprinted by texturally and chemically distinctive high-grade mineralization. The two most extensively explored of these areas (the Yaraguá and Veta Sur systems) are central to this land package. The Yaraguá system has been drill-outlined along 1,100 metres of strike and 1,500 vertical metres and partially sampled in underground developments. The Veta Sur system has been drill-outlined along 1,000+ metres of strike and 1,500 vertical metres. Both systems are characterized by multiple, steeply-dipping veins and broader, more disseminated mineralization and both remain open at depth and along strike, at high grades. See "About Continental Gold" below for a précis of updated mineral resource estimates for the Buriticá project prepared in accordance with NI 43-101. This release documents the results of sampling of the first underground developments in upper parts of central Veta Sur. The main underground cross-cut through the Veta Sur deposit is located at an elevation of 1,690 metres above sea level with approximately 255 metres completed to date. Eighteen veins have been observed in the crosscut and their locations and orientations accord well with corresponding areas outlined in the current mineral resource estimate prepared in accordance with NI 43-101. Narrow vein structures (veinlets), at different orientations to the northeast-southwest strike of the main veins in the current mineral resource model, have been observed in the cross-cut (and in the Vein 62 and Vein 51 drift). These narrow structures are generally not included in mineral resource modelling. However, in certain locations, these structures tend to swarm, resulting in mineralized structures of up to 5 g/t gold over reasonable widths situated between and contiguous with modeled veins, adding to the widths of mineralized envelopes around main veins. These locations are commonly in areas of intense fracturing, proximal to contact zones of the andesite intrusions with sediments and/or breccias. Continuous channel sampling has been undertaken along both the east and west walls of the cross-cut, with assay results to date outlined in Table I. Sampling from the 180(th) metre of the cross-cut (the location of the first main vein intersected in the cross-cut), has outlined a broad high-grade zone as follows: 30 metres (true horizontal width) @ 9.6 g/t gold and 47 g/t silver. This zone is significantly thicker than the corresponding area of the current mineral resource model and in the mine plan for the upcoming PEA, scheduled for release in Fourth Quarter 2014. Additional channel sampling results for the balance of the cross-cut are outstanding. The bulk mineralized zone remains open to the southwest and northeast where it will be further tested by cross-cuts, commenced and planned, from the Vein 62 and Vein 51 drift. Short drifts from the main cross-cut will examine the continuity of high-grade veins within the mineralized zones. Vein 62 and Vein 51 Drift The Vein 62 and Vein 51 drift commenced at the 200-metre mark of the Veta Sur cross-cut, and approximately 120 metres of northeast/southwest development has been completed to date. This nominally 3.5 X 3.5-metre drift follows the path (in part) of both Vein 62 and Vein 51. Channel sampling across the development face every 3 metres has outlined a continuous zone of high-grade mineralization, averaging: 3.15 metres (true horizontal width) @ 59.7 g/t gold and 139 g/t silver along 85 metres. Mineralization is generally present at both the northwestern and southeastern edges of the sampled face, suggesting that the true width of the zone might extend past the 3.15 metres presently outlined. In addition, this zone is significantly higher grade than the current Measured and Indicated grades of the veins along this 85-metre long segment of the current mineral resource model, wherein Vein 62 and Vein 51, combined, average 2.1 metres @ 27.3 g/t gold and 134 g/t silver. The Vein 62 and Vein 51 mineralized zone remains open to both the northeast and southwest with channel sampling continuing until the completion of the drift later this year. The cross-cuts from the Vein 62 and Vein 51 drift will facilitate evaluation of mineralization on the margins of this zone. A bulk sample of material blended from both the drift and the cross-cut will be processed through the pilot scale mill at the Yaraguá mine for mining reconciliation purposes. Results will be released once they are all received and compiled.

Continental Gold Limited Announces Results for 20 Diamond Drill-Holes at the Veta Sur, Yaragua and Laurel Vein Systems

Continental Gold Limited announced results for 20 diamond drill-holes at the Veta Sur, Yaragua and Laurel vein systems at the company's 100%-owned Buritica project in Antioquia, Colombia. Drilling continues throughout 2014 with the goal of upgrading Inferred resources into the Measured and Indicated categories in accordance with National Instrument 43-101 (NI 43-101), and increasing the total mineral resource estimate. Highlights: A 100-metre step-out drill-hole to depth at the Veta Sur vein system has successfully extended the vertical dimension of the current mineral resource envelope to 1,500 metres. Drill-hole BUSY367D02 intersected 4.85 metres at 4.9 g/t gold and 9 g/t silver at an elevation of 298 metres, making it the deepest mineralized intercept to date at Veta Sur. Multiple drill-holes at Veta Sur were successful in extending both the lateral and vertical strike lengths of various veins outlined in the current mineral resource block model. Assay results from drill-holes that were perforated above the block model include 7.5 metres at 23.2 g/t gold and 4 g/t silver (BUUY277) and 1.05 metres at 695.3 g/t gold and 140 g/t silver (BUUY280). Assay results from drill-holes that extended veins along strike or at depth include 2.45 metres at 16 g/t gold and 12 g/t silver (BUUY271D04). Drilling was successful in infilling the Veta Sur vein system along 700 metres of lateral strike by over 1,000 metres of vertical strike. A majority of the veins encountered in drilling yielded grades X thicknesses significantly above those expected from the current mineral resource block model, with results including 7.5 metres at 24.2 g/t gold and 33 g/t silver (BUUY271D02) and 7.15 metres at 23.4 g/t gold and 23 g/t silver (BUUY271D04). A step-out drill-hole at the Yaraguá vein system has successfully extended the vertical dimension of the current mineral resource envelope by over 200 metres to an aggregate of more than 1,500 metres of vertical strike length. Drill-hole BUSY367D03 intersected 2.45 metres at 29 g/t gold and 62 g/t silver at an elevation of 235 metres, making it the deepest mineralized intercept to date at Yaragua. These drilling results indicate continuity of several vein families within each of the vein systems over large vertical and horizontal extents in areas potentially developable from the proposed underground infrastructure. The Veta Sur and Yaraguá vein systems remain open to the west and to depth throughout. Veta Sur Vein System: Four holes (BUUY271D01, BUUY271D02, BUUY271D03 and BUUY271D04) were deviated and directionally drilled from 'mother hole' BUUY271D, targeting extensions of, and infilling, the Veta Sur vein system in the southwest where sparse prior drilling had only been done at relatively shallow depths. These drill-holes intersected multiple veins to the southwest of the current mineral resource envelope, significantly extending the northern and southern vein families in this area through an elevation range of 500 metres. Key intercepts outside of the current Veta Sur mineral resource envelope, include: 0.6 metres at 18.2 g/t gold and 1 g/t silver (BUUY271D01, elevation of 950 metres); 0.5 metres at 21.9 g/t gold and 10 g/t silver (BUUY271D01, elevation of 854 metres); 0.5 metres at 40.2 g/t gold and 59 g/t silver (BUUY271D01, elevation of 707 metres); 0.65 metres at 16.4 g/t gold and 5 g/t silver (BUUY271D02, elevation of 783 metres); 1.2 metres at 8.1 g/t gold and 18 g/t silver(BUUY271D03, elevation of 617 metres); 2.45 metres at 16 g/t gold and 12 g/t silver, including 1.15 metres at 32.8 g/t gold and 25 g/t silver (BUUY271D04, elevation of 469 metres); and 0.5 metres at 19.8 g/t gold and 8 g/t silver (BUUY271D04, elevation of 454 metres). These drill-holes, at higher elevations, also commonly encountered veins with grades X thicknesses that are significantly above those expected from the current mineral resource block model in western Veta Sur. Related veins and intercepts include: 2.65 metres at 36 g/t gold and 48 g/t silver, including 1.0 metres at 88.4 g/t gold and 100 g/t silver (BUUY271D01, V48, elevation of 1,095 metres); 7.5 metres at 24.2 g/t gold and 33 g/t silver, including 1.45 metres at 102 g/t gold and 99 g/t silver (BUUY271D02, V48, elevation of 1,107 metres); 0.5 metres at 59.7 g/t gold and 122 g/t silver (BUUY271D04, V48, elevation of 1,070 metres); and 7.15 metres at 23.4 g/t gold and 23 g/t silver, including 1.5 metres at 84.1 g/t gold and 74 g/t silver (BUUY271D04, V43, elevation of 1,057 metres).

 

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