Colombia Goldfields Ltd. (TSX: GOL/OTCBB: CGDF) today provided an update on its ongoing 60,000 meter resource definition drill program in the Zona Alta (Upper Zone) at the Marmato Mountain gold project in Colombia. Highlights include:
- New results based on 8,396 meters in 34 diamond drill holes;
- Intercepts included 20.0 m at 0.91 g/t Au, 22.0 m at 1.60 g/t Au, 100.0 m at 0.47 g/t Au, 21.0 m at 0.99 g/t Au, 44.0 m at 1.48 g/t Au, 35.8 m at 1.36 g/t Au, 16.0 m at 4.95 g/t Au, 76.0 m at 1.03 g/t Au, and 31.5 m at 0.84 g/t Au;
- Drilling to date is 40,735 meters in 188 holes, including 10 in progress;
- 10 diamond drill rigs operating;
- Underground sample results from 399.5 m of channel samples in cross-cuts and 119 m of individual samples; intercepts included 112 m at 0.56 g/t Au and 10 m at 2.60 g/t Au.
To date, 40,735 meters of drilling has been completed in 188 diamond drill holes, including 10 holes in progress. In May 2008 the Company announced an initial NI 43-101 compliant inferred resource estimate of 2.6 million ounces of gold (at a cut-off grade of 0.3 g/t Au) for the Zona Alta at Marmato (see press release of May 12, 2008). The estimate was based on the first 12,186 meters (68 holes) of diamond drilling, 1,165 meters of cross-cut samples (115 cross-cuts) and 504 meters of individual underground samples.
Results from 34 new holes (8,396 meters) have been received since the last drill results were published (see press release of June 2, 2008) and are listed in Table 1. Results have now been received for a total of 140 holes representing 27,910 meters. The drill hole locations are shown on the accompanying plan.
The underground sampling program has been completed in all accessible mines in the Zona Alta. Some mines remain to be sampled once title is transferred to the company. New results have been received for 399.5 m of channel samples from 22 cross-cuts in 7 mines, and are listed in Table 2. In addition, results have been received for 90 individual samples of mine faces and backs totalling 114.7 m in 6 mines and are listed in Table 3. In total, 65 mines have been sampled for a total of 1,912.9 m in 1,387 samples. This comprises 1,257.5 m of channel sampling in 127 cross-cuts (662 samples), and 725 individual samples totalling 655.4 m. The average grade of all individual samples is 2.68 g/t Au and 15.5 g/t Ag over 0.90 m. -- www.cnxmarketlink.com
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