Tolima Gold (TSXV:TOM) Drilling 10,000 Metre Program on the Remedios Gold Project in Colombia.- Video Summary Posted on www.InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, March 2, 2012 - Tolima Gold (TSXV:TOM) is now
drilling a 10,000 metre diamond drill program on the Remedios Gold Project in
Columbia, located on the southwest border of the Gran Colombia's Frontino gold
mine, the largest producing underground gold mine in Colombia.
InvestmentPitch.com has produced a "video news alert" based on this information.
If this link is not enabled, please visit www.InvestmentPitch.com and enter
"Tolima" in the search box.
The Remedios Gold Project hosts the underground La Bartola mine, which is in the
development stage. The La Bartola mine has been around for more than 100 years
and between 1950 and 1980 it was one of the richest mines in the Remedios area.
The company has two other targets in this area, the San Pablo mine, 500 metres
to the west, and the La Gabriela, three kilometres north of the San Pablo mine.
There is a gold processing and recovery plant located on the San Pablo property,
with a capacity of approximately 100 tons per day.
For a six month period, Gran Colombia Gold will be shipping their ore to
Tolima's plant for processing, with Tolima receiving 30% of the proceeds,
thereby providing immediate cash flow.
The company expects to complete approximately 6,000 metres of drilling during
2012, to explore in depth the main veins and define the existence of more veins
that possibly occur below and over the main structure. Of the 31 drill holes
planned, 22 will target San Pablo, with 5 at La Gabriela and 4 at La Bartola.
The Remedios Gold Project is just one of three projects, which in total comprise
78,000 hectares and 67 different properties, all with geological studies. The
others projects are the Ancal and the Nortol, which includes the El Papayo
underground mine. These projects are all located in mining friendly
jurisdictions with excellent infrastructure and access to technical and
logistical support.
The company has a strong board and management team, led by Chairman, Andy
DeFrancesco, and President Jamie Lopez, both with a substantial track record of
generating shareholder value in Colombia and Internationally. In addition, they
will have future support from IAMGOLD as a large and strategic investor, with
access to IAMGOLD's strong and dynamic management and technical team.
Tolima Gold is currently trading at $0.45 and with 117 million shares
outstanding, is capitalized at approximately $53 million.
For a more information, please visit Tolima's website at www.tolimagold.com, or
email Marcela Ospina at mospina(at)tolimagold.com.
In Canada, their investor relations is handled by Contact Financial, who can be
reached at 604-689-7422, or email kirk(at)contactfinancial.com.
InvestmentPitch.com is a multimedia company that provides a combined solution
for creating, hosting, and distributing financial video content across multiple
platforms to investors and financial professionals. InvestmentPitch.com
specializes in producing three minute videos based on news releases and research
reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
604-684-5524
bmorgan(at)investmentpitch.com
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originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1591130]
Unternehmensinformation / Kurzprofil:
Datum: 02.03.2012 - 23:38 Uhr
Sprache: Deutsch
News-ID 121293
Anzahl Zeichen: 4034
contact information:
Kategorie:
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