Columbus Silver Corporation: Permitting Approved at Mogollon Silver-Gold Project; Drilling Scheduled
December 16 2009 - 9:00AM
Marketwired
Columbus Silver Corporation (TSX VENTURE: CSC) ("Columbus Silver"
or the "Company") is pleased to announce that approval has been
received and a bond placed with the State of New Mexico Energy,
Minerals, and Natural Resources Department, Mining and Mineral
Resources Division, and that final well permits have been received
from the State of New Mexico Office of the State Engineer, for the
planned drilling program scheduled to commence during the second
week of January 2010 at Columbus Silver's 100% controlled Mogollon
silver-gold project, Catron County, New Mexico.
Colorado based Godbe Drilling has been retained to carry-out a
7,500-8,000 ft (2,286-2,438 meters) drilling program in up to 14
diamond core holes.
The Mogollon Project covers an extensive, silver-gold bearing
epithermal vein field with reported historic production, largely
from the Little Fanney and Last Chance mines during the period 1905
to 1925, and the Consolidated Mine from 1937 to 1942, of 15,700,000
ounces silver and 327,000 ounces gold from approximately 1.7
million tons (1.5 million tonnes) of ore. There are two sets of
veins at Mogollon, an east-west set represented by the productive
Little Fanney and Last Chance veins, and a north-south set
represented by the Queen vein developed in the Consolidated
Mine.
The current drilling program at Mogollon will test the east-west
trending Independence-Ida May and Anna E veins. The highly
prospective east-west veins have near-surface characteristics
similar to the historically productive Little Fanney and Last
Chance veins at Mogollon but have only been explored by shallow
workings.
A property map is available at:
www.columbussilvercorp.com/i/pdf/nr/mogollon-2009-05-26-map.pdf
The historic figures presented herein are not NI 43-101
compliant. They should not be relied upon and Columbus Silver does
not treat them as current.
Andy Wallace is a Certified Professional Geologist (CPG) with
the American Institute of Professional Geologists and is the
Qualified Person under NI 43-101 who has reviewed and approved the
technical content of this news release. Mr. Wallace is a VP of
Columbus Silver's U.S. subsidiary and a partner of Cordilleran
Exploration Company ("Cordex"), which is conducting exploration and
project generation activities for Columbus Silver.
ABOUT COLUMBUS SILVER
Columbus Silver is a silver exploration and development company
operating in the Western United States possessing an experienced
management group with a strong background in all aspects of the
acquisition, exploration, development and financing of mining
projects.
Columbus Silver's project activities are managed on an exclusive
basis by Cordex, owned and operated by John Livermore and Andy
Wallace who have a long and successful history of discovery and
mine development in the United States. Columbus Silver maintains
active generative (prospecting) and evaluation programs and
currently controls a 100% interest in 8 silver properties in Utah,
Arizona, New Mexico and Nevada.
ON BEHALF OF THE BOARD,
Robert F. Giustra, President & CEO, Director
This release contains forward-looking information and
statements, as defined by law including without limitation Canadian
securities laws and the "safe harbor" provisions of the US Private
Securities Litigation Reform Act of 1995 ("forward-looking
statements"), respecting the Company's exploration plans.
Forward-looking statements involve risks, uncertainties and other
factors that may cause actual results to be materially different
from those expressed or implied by the forward-looking statements,
including without limitation the ability to acquire necessary
permits and other authorizations; environmental compliance; cost
increases; availability of qualified workers; competition for
mining properties; risks associated with exploration projects,
mineral reserve and resource estimates (including the risk of
assumption and methodology errors); dependence on third parties for
services; non-performance by contractual counterparties; title
risks; and general business and economic conditions.
Forward-looking statements are based on a number of assumptions
that may prove to be incorrect, including without limitation
assumptions about: general business and economic conditions; the
timing and receipt of required approvals; availability of
financing; power prices; ability to procure equipment and supplies;
and ongoing relations with employees, partners and joint venturers.
The foregoing list is not exhaustive and we undertake no obligation
to update any of the foregoing except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Columbus Silver Corporation Ray Lagace Investor
Relations 604-638-3474 or 1-866-689-2599
info@columbussilvercorp.com www.columbussilvercorp.com
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