Colombia Crest Gold Announces Soil Sample Results of 0.4 Grams Per Tonne Gold Over the Arabia Porphyry Target, Colombia
November 08 2011 - 1:08PM
Marketwired Canada
Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX
VENTURE:CLB)(PINK SHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce anomalous
soil sample results at the Arabia Porphyry Gold-Copper Target, Antioquia
Department, Colombia. This first group of assay results were received for 307 of
the 1132 soil samples collected from the highest priority area at the Arabia
Target.
Assay results ranged from below detection to 405 parts per billion (0.4 grams
per tonne) gold and up to 252 parts per million copper, 216 parts per million
arsenic, and 6.3 parts per million molybdenum. A total of 21 samples returned
greater than 50 ppb gold. Analysis of the soil data suggests that higher gold
values are correlated to higher molybdenum and copper values. Anomalous gold,
with samples greater than 50 parts per billion ("ppb"), in these initial soil
samples coincides with and confirms the gold reported from some of the rock chip
sampling (see news release October 19, 2011). The remaining 70% of the soil
samples covers other anomalous rock chip sites.
"Further to our rock chip sample results announced on October 19th, these soil
sample results over the Arabia Target now confirm the areas we expected to be
anomalous. The results of the soil sampling help to further expand the area up
onto the hillsides where rock chip samples weren't available as outcrop,"
explained Hans Rasmussen, President and CEO. "This first batch of results have
exceeded our expectations - the results fit the type of deposit we're after.
This technical success can only be attributed to our field team in Medellin,
that has extensive experience exploring gold porphyry systems. The team has
identified and correctly explored Arabia, bringing it closer to the next phase
of exploration which is drilling, and for which permitting is now in progress."
The Arabia target is located 10 kilometres west of Bellhaven's (TSX VENTURE:BHV)
La Mina porphyry gold-copper project and 15 kilometres south of Sunward
Resources' (TSX VENTURE:SWD) Titiribi project. The Arabia Porphyry Target lies
partially on a concession that is held under the Venecia Agreement with
Colombian Mines Corporation ((TSX VENTURE:CMJ), see news release dated April 5,
2011) and partially on one of the 16 concessions held under the Fredonia
Agreement with Grupo de Bullet (see news release dated August 25, 2011).
A total of 1132 soil samples were collected on a nominal 50 by 50 metre grid
covering almost three square kilometres over the Arabia porphyry target area.
All the samples were collected from residual soil that is thought to represent
decayed and eroded bedrock. The samples were submitted to ACME Labs for
preparation in Colombia and analysis in Vancouver, Canada.
Sample preparation consists of sieving the samples through an 80 mesh screen so
that up to 100 grams of material remain. This sub-sample is then pulverized to
-100 mesh and digested in aqua regia prior to analysis by ICP mass spectrometry
for a multi-element package including silver, base metals, and pathfinder
elements.
As described in a news release dated June 1, 2011, the Arabia area was
discovered as part of our ongoing porphyry gold program focused on the prolific
Middle Cauca Belt, Colombia. A total of 20 highly prospective areas were
identified by Colombia Crest in the Fredonia and Venecia projects. Areas were
defined through the detailed integration of airborne magnetic and radiometric
data with gold and copper values in stream sediment sampling data, geologic
maps, and fault intersection analysis from satellite maps. The prospective areas
or targets were prioritized for field follow up, with the highest priority given
to those with the best results from the data groups mentioned above, including
mineral title and surface ownership as a prioritizing criteria. Arabia was the
highest priority area. Field work continues on the 34,000 hectares (81,600+
acres) of mineral title.
The technical information in this news release has been reviewed and approved by
Dr. Richard Jemielita, a technical consultant who is a Qualified Person in
accordance with National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
About Colombia Crest Gold Corp.
Colombia Crest Gold Corp. is focused on systematically exploring, developing and
monetizing promising new gold projects in Colombia as well as realizing the
potential of its 100 percent-owned San Simon project in Bolivia. The Company
employs a team of seasoned geologists, each with 20+ years of experience
exploring and discovering this type of porphyry deposit around the world,
including Argentina, Mexico, Alaska, Indonesia, and Eastern Europe.
Along with a strong working capital position, the Company will accelerate the
exploration programs at the Fredonia and Venecia projects where it has optioned
over 34,000 hectares located in the Cauca River Valley. Situated approximately
40 km south of the city of Medellin, in Antioquia Department, the projects are
positioned within the Middle Cauca Belt, which is the most prolific gold belt in
Colombia with more than 500 years of gold mining history and several new gold
discoveries.
Please clink here to view President and CEO Hans Rasmussen further explain the
significance of the anomalous soil sample results and the size potential of the
Arabia porphyry targets: http://www.youtube.com/user/ColombiaCrest.
If you would prefer to receive news releases via email please contact Colombia
Crest (info@ColombiaCrestGold.com) and specify "Colombia Crest news" in the
subject line.
Please visit the Company's website at www.ColombiaCrestGold.com.
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