Continental Gold!!! Kürzel Kanada CNL
Continental Gold to start TSX trading April 19
2010-04-19 08:00 ET - News Release
Mr. Ari Sussman reports
CONTINENTAL GOLD LIMITED TO BEGIN TRADING ON THE TORONTO STOCK EXCHANGE UNDER THE SYMBOL "CNL" ON APRIL 19, 2010
Continental Gold Ltd.'s common shares will commence trading on the Toronto Stock Exchange today, April 19, 2010, under the symbol CNL.
"I would personally like to thank the Continental team for working diligently on the amalgamation and subsequent listing on the TSX," said Ari Sussman, chief executive officer. Mr. Sussman added, "I look forward to working with our new team to develop Continental's promising projects and move the company to the next stage."
Continental is an advanced-stage exploration company with an extensive portfolio of gold projects located in established mineral belts in Colombia, South America. The company has seven 100-per-cent-owned gold projects covering 190,000 hectares and one project that is subject to a joint venture agreement with AngloGold Ashanti as operator. By year-end, Continental plans to complete a combined minimum of 26,000 metres on the drilling program at its flagship projects, Buritica and Berlin.
Buritica gold project
Buritica, Continental's 100-per-cent-owned flagship project, is an emerging high-grade gold deposit located in Antioquia department, 75 kilometres northwest of Medellin. The 18,000-hectare project is accessible by paved roads and boasts excellent infrastructure with power and water readily available.
Buritica is situated in a mineral-prolific region consisting of high-grade gold veins and disseminated mineralization in breccias and sediments. During the Spanish colonial period, the district was an important producer of gold, principally from colluvial deposits.
The Buritica district is underlain by a sequence of flysche-type sediments and basalts, which are cut by tonalitic intrusions and overlain by a mafic volcanic complex. The Tertiary-age Buritica sequence, a high-level intrusion of intermediate composition is affected by propylitic through potassic alteration. A late-stage diatreme breccia cuts the higher temperature phases and is characterized by sericitization and intermediate argillic alteration. Gold mineralization is present in several geological settings including replacements at intrusive contacts, disseminations in the breccia pipe bodies and in a series of bonanza-grade veins. It is characterized by pyrite-sphalerite with lesser galena and is associated with late, sericitic alteration.
The mineralization at Buritica consists of a porphyry-related carbonate base metal vein and breccia system that has yielded numerous important areas of mineralization and several additional targets to be tested. Since the first discovery hole in late 2007, Continental has completed over 17,000 metres of diamond drilling and over 1,200 metres of underground development at this project.
Berlin gold project
Berlin is a 100-per-cent-owned gold project located approximately 90 km north of Medellin. The Berlin concessions cover approximately 28,000 hectares and include the historical Berlin mine. The original Berlin mine operated from 1930 to 1946 and produced 413,000 ounces of gold from a 20-metre-thick lens with a production grade of 16 grams per tonne Au and recoveries of 94 per cent. (This work was not carried out or certified by a qualified person for purposes of NI 43-101 and accordingly, may not be relied upon.) To date, surface mapping and sampling indicate excellent potential for large-scale mesothermal veins contained within a large, orogenic gold system. Over 11 km of favourable vein trend in two subparallel belts have been outlined with a minimum of 4,000 metres of drilling planned in 2010.
About Continental Gold
Continental Gold is an advanced-stage exploration company with eight gold projects covering 190,000 hectares in Colombia. Spearheaded by a management team with over 40 years of mining experience in South America, the company plans to conduct an aggressive exploration program to its extensive portfolio with a focus on its flagship high-grade gold project, Buritica.
Continental's vice-president of exploration, Stuart Moller, PGeo, is a qualified person under National Instrument 43-101 and has reviewed the technical information contained in this press release.
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