Continental Gold (TSX:CNL) Featured in Report by Resourcexinvestor - Video Summary Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, May 26, 2011 - Resourcexinvestor's Nathan Pearson
discusses Continental Gold (TSX:CNL) and its aggressive drill program in
Colombia, South America.
When you combine a management team boasting a successful track record of
discovering and developing multi-million ounce gold deposits, with a technical
team that combined has more than 40 years experience in Colombia, it's only
natural that you end up in Colombia, an ideal hunting ground for an ambitious,
young exploration company.
InvestmentPitch.com has produced a "video news alert" based on this report. If
this link is not enabled, please visit www.investmentpitch.com and enter
"Continental" in the search box.
The following includes information taken from the Resourcexinvestor report.
Formed in 2007, and listed on the Toronto Stock Exchange in April 2010,
following an amalgamation with Cronus Resources, Continental immediately went to
work in Colombia and now has 9 gold projects in their portfolio, covering more
than 190,000 hectares. The company also has a right of first refusal on another
four million hectares of potential precious or base metals concessions owned by
Grupo de Bullet S.A.
According to Resourcex's Nathan Pearson, Continental is, "digging for gold in
Colombia at a pace like no other", on the flagship Buriticá property in the
Antioquia Department of Colombia. Over the last 10 months, the company has
amassed an impressive 58,000 metres of drilling and are the proud owners of some
fantastic new drill results from the property`s Veta Sur and Yaragua systems.
The company has concentrated on two systems, and most recently, drill intercepts
reported in a May 4(th) news release included numbers such as 10.23 metres of
44.75 grams per tonne gold and 23.7 grams per tonne silver from drill hole BUSY-
137, and 5.10 metres of 84.92 grams per tonne gold and 38.9 grams per tonne
silver from hole BUSY-152, both from the Veta Sur System.
Drill holes BUSY-155 and BUSY-158 intersected nine and eight veins respectively
and extended the depth of high grade mineralization an additional 100 metres to
470 vertical metres.
Paramount to the company's success has been the steady flow of information, with
results released on almost a monthly basis - 14.3 metres at 446 grams per tonne
gold in August, 17.9 metres at 113.82 grams per tonne gold in November, and
10.8 metres at 43.97 grams per tonne gold in a new deep high grade subzone in
March.
Although the company is focused on Buriticá at the moment, Continental is not a
one-property junior.
According to the report, the company's highly prospective Berlin project,
located 100 kilometres north of Medellin, produced more than 400,000 ounces of
gold in the 1030s and 1940s with a grade of 16 grams per tonne and historical
recoveries of 94%. Continental plans to drill 10,000 metres on the 28,695
hectare project this year.
Five thousand metres of drilling is in the pipeline for the 24,327 hectare
Dominical gold project located in the Cauca Department while the Santander gold
project, located in the California-Vetas district, near to Ventana Gold`s La
Bodega project, and the Dojura gold/copper project, located in the Choco
Department in a joint venture with AngloGold Ashanti Limited, patiently wait
their turn to shine.
A hugely under-explored country, Colombia has the fifth largest economy, the
steadiest growth rate and the lowest average inflation in Latin America.
Continental Gold intends to continue exploring, developing and drilling at the
praise worthy pace they've set, which should be no problem, considering they had
$97 million in the bank at the end of December 2010.
The shares currently trade at $7.50 and with approximately 103 million shares
outstanding, the company is capitalized at close to $775 million.
Continental Gold's annual general meeting will be held at the TMX Gallery, The
Exchange Tower, in Toronto Ontario, on Tuesday June 7(th) at 10:00 a.m.
For more information on Continental Gold, please visit their website at
www.continentalgold.com, or contact Elina Chow at 416-583-5611 or email
e.chow(at)continentalgold.com.
For a copy of the report, please visit www.resourcexinvestor.com.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
[HUG#1519209]
Unternehmensinformation / Kurzprofil:
Datum: 26.05.2011 - 16:32 Uhr
Sprache: Deutsch
News-ID 55042
Anzahl Zeichen: 5355
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Kategorie:
Business News
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