Continental Gold Drills 25.45 m @ 12.02 g/t Au and 57.4 g/t Ag at Veta Sur and Extends the Veta Sur Mineralization 350 m Vert...
31 August 2011 - 12:30PM
Marketwired Canada
Continental Gold Ltd. ("Continental" or the "Company") (TSX:CNL) is pleased to
announce results for 16 diamond drill-holes from the Company's ongoing program
at its Buritica Project in Antioquia, Colombia. Over 80,000 metres of diamond
drilling have been completed on the property to date and nine drills are
currently on schedule to complete approximately 100,000 metres of surface and
underground drilling by the end of 2011.
Highlights
Veta Sur (Figures 1 and 2)
-- Two drill-holes extended the high grade central part of this system to
the southwest and up-dip. Drill intercepts including:
-- 25.45 m @ 12.02 g/t gold, 57.4 g/t silver, including 2.25 m @ 43.76
g/t gold and 113 g/t silver (BUSY167)
-- 2.10 m @ 21.31 g/t gold, 31.1 g/t silver and 1.50 m @ 14.21 g/t gold
and 43 g/t silver (BUSY180)
-- Drilling in Veta Sur central continued to demonstrate the continuity of
high base metal-carbonate veining and common Stage II overprints as well
as high silver veins in this area. Highlights include:
-- 1.1 m @ 3.90 g/t gold, 1424 g/t silver and 3.0 m @ 17.11 g/t gold,
15 g/t silver (BUSY165)
-- 4.5 m @ 2.43 g/t gold, 244.1 g/t silver and 1.19 m @ 18.47 g/t gold,
56.5 g/t silver (BUSY181)
-- 1.55 m @ 22.47 g/t gold, 56 g/t silver and 0.5 m @ 142.1 g/t gold.,
96 g/t silver (BUSY185)
-- 10.35 m @ 18.15 g/t gold, 25.1 g/t silver and 3.35 m @ 12.63 g/t
gold, 11.5 g/t silver (BUSY186)
-- BUSY192 intersected high grade gold and silver veins with relatively low
base metal contents confirming the northeasterly extensions of the Veta
Sur system deep under the Diatreme Fault, including:
-- 3.24 m @ 32.7 g/t gold, 350.6 g/t silver and 4.25 m @ 24.12 g/t
gold, 57.9 g/t silver
-- BUSY164, drilling for the southwest extensions of Veta Sur, intersected
several auriferous veins at depth and also a family of silver-rich veins
including 3 m @ 517 g/t silver.
-- BUSY 210 (awaiting assay), the first deep drill-hole under the Veta Sur
system, encountered base metal carbonate mineralization at elevations up
to 350 metres deeper than any previous drill-hole.
Yaragua and Yaragua South (Figure 1)
-- BUSY178 and BUSY182 extended the Yaragua system to the west of and
underneath the Diatreme Fault, both holes encountering substantial
mineralized intercepts, including:
-- 6.60 m @ 6.01 g/t gold, 35.2 g/t silver, incl. 1.53 m @ 19.29 g/t
gold, 72 g/t silver (BUSY178)
-- 4.5 m @ 9.8 g/t gold, 7.4 g/t silver (BUSY182)
-- BUUY58 and BUUY59 drilled across west central Yaragua each intersected
several major veins from the Murcielagos family in the south and also
substantial widths of lower grade mineralization, including:
-- 2.20 m @ 55.12 g/t gold, 30.6 g/t silver (BUUY58)
-- 4.50 m @ 6.20 g/t gold, 22.3 g/t silver and 2.6% zinc (BUUY59)
-- In addition to encountering several new auriferous vein sets, BUSY176
and BUSY183, drilled from south of Yaragua, extended the Murcielagos
family of veins deep under eastern Yaragua. High grade intercepts
include:
-- 2.0 m @ 20.44 g/t gold and 4.2 g/t silver and 0.6 m @ 22.43 g/t
gold, 23.0 g/t silver (BUSY176)
-- 1.4 m @ 14.16 g/t gold, 8.3 g/t silver (BUSY183)
-- BUSY187 demonstrated the continuity of high silver-auriferous veins,
south of the Murcielagos family of veins over 70 metres from previous
drilling. Significant intercepts including:
-- 2.90 m @ 4.53 g/t gold, 588 g/t silver, incl. 1.40 m @ 5.99 g/t
gold, 1210 g/t silver
Details
Continental's 100%-owned, 22,457-hectare project, Buritica, contains several
known areas of high-grade gold and silver mineralization, of base
metal-carbonate style ("Stage I") variably overprinted by texturally and
chemically distinctive high-grade "Stage II" mineralization. The two most
extensively explored of these areas (the Yaragua system and the Veta Sur system,
Figure 1) are central to this land package. The Yaragua System has been
drill-outlined along 550 metres of strike and 600 vertical metres and partially
sampled in underground developments. The Veta Sur system has been drill
intersected along 500 metres of strike and over 900 vertical metres, including
the latest visual intercept (Figure 2). Both systems are characterized by
multiple, steeply dipping veins and broader, more disseminated mineralization
and both remain open at depth at high grades.
Veta Sur
Significant new drill intercepts in the Veta Sur system are tabulated below:
---------------------------------------------------------------------------
From To Interval(i) Gold Silver Zinc RL
Drillhole (m) (m) (m) (g/t) (g/t) (ppm) (m)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY164 12.00 15.00 3.00 0.01 517.0 1128 1860
---------------------------------------------------------------------------
less than
17.00 19.50 2.50 0.005 119.0 761 1855
---------------------------------------------------------------------------
less than
22.50 24.45 1.95 0.005 196.0 757 1850
---------------------------------------------------------------------------
216.60 218.10 1.50 3.12 55.0 3016 1670
---------------------------------------------------------------------------
256.50 261.30 5.80 1.86 22.5 11980 1630
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY165 132.08 133.1 1.02 6.86 320.0 72400 1655
---------------------------------------------------------------------------
142.7 143.8 1.10 3.90 1424.0 168400 1645
---------------------------------------------------------------------------
147.00 148.4 1.40 1.34 306.0 12000 1634
---------------------------------------------------------------------------
189.3 190.1 0.80 13.00 60.0 2800 1600
---------------------------------------------------------------------------
232.15 233.10 0.95 3.00 5.7 1190 1558
---------------------------------------------------------------------------
305.50 307.00 1.50 18.94 108.2 1939 1487
---------------------------------------------------------------------------
342.00 375.00 32.00 3.87 23.1 430 1428
---------------------------------------------------------------------------
incl. 361.50 372.00 10.50 7.26 32.9 274 1409
---------------------------------------------------------------------------
409.00 412.00 3.00 17.11 15.0 3457 1388
---------------------------------------------------------------------------
421.00 428.50 7.50 4.15 3.2 577 1373
---------------------------------------------------------------------------
454.50 454.95 0.45 15.00 100.0 18800 1344
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY167 143.35 143.75 0.40 11.00 350.0 2020 1593
---------------------------------------------------------------------------
185.10 186.70 1.60 3.44 9.6 846 1553
---------------------------------------------------------------------------
297.20 300.00 2.80 2.29 93.8 690 1446
---------------------------------------------------------------------------
319.70 345.15 25.45 12.02 57.4 3840 1430
---------------------------------------------------------------------------
incl. 324.80 327.05 2.25 43.76 113.0 5883 1418
---------------------------------------------------------------------------
335.00 340.44 5.44 23.04 73.6 1440 1406
---------------------------------------------------------------------------
400.31 400.85 0.54 13.32 8.5 236 1347
---------------------------------------------------------------------------
426.00 427.00 1.00 5.30 40.0 467 1322
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY180 117.20 120.00 2.80 11.90 11.4 2082 1628
---------------------------------------------------------------------------
141.05 182.75 41.70 4.12 16.0 1221 1606
---------------------------------------------------------------------------
incl. 141.05 143.05 2.10 21.31 31.1 1106
---------------------------------------------------------------------------
164.00 165.50 1.50 14.21 43.0 915 1588
---------------------------------------------------------------------------
169.00 173.50 4.50 4.70 14.0 2167 1577
---------------------------------------------------------------------------
349.10 351.00 1.90 1.45 50.3 21187 1430
---------------------------------------------------------------------------
BUSY181 121.84 123.50 1.66 2.67 79.7 63953 1657
---------------------------------------------------------------------------
168.35 172.50 4.15 2.43 244.1 2866 1627
---------------------------------------------------------------------------
incl. 169.00 170.00 1.00 6.51 340.0 3305
---------------------------------------------------------------------------
172.00 172.50 0.50 1.72 756.0 8927 1617
---------------------------------------------------------------------------
192.90 200.15 7.25 2.48 16.9 265 1597
---------------------------------------------------------------------------
incl. 192.90 193.30 0.40 16.15 17.0 87
---------------------------------------------------------------------------
292.93 294.00 1.07 7.90 24.0 1388 1503
---------------------------------------------------------------------------
328.50 337.44 8.94 6.47 21.6 810 1464
---------------------------------------------------------------------------
incl. 336.25 337.44 1.19 18.47 56.5 391
---------------------------------------------------------------------------
342.00 343.70 1.70 8.64 20.4 1317 1546
---------------------------------------------------------------------------
365.40 372.20 6.80 2.05 5.4 989 1431
---------------------------------------------------------------------------
413.10 414.60 1.50 5.15 4.4 1994 1390
---------------------------------------------------------------------------
428.20 429.00 0.80 7.95 7.4 5760 1376
---------------------------------------------------------------------------
509.50 512.60 3.10 3.97 3.1 639 1299
---------------------------------------------------------------------------
531.80 532.20 0.40 44.33 25.0 191 1279
---------------------------------------------------------------------------
536.00 538.90 2.90 13.20 16.3 249 1273
---------------------------------------------------------------------------
546.65 548.65 2.00 5.57 20.7 1638 1264
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY184 greater
376.40 377.00 0.60 3.31 51.0 than 10000 1504
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY185 69.80 70.10 0.30 4.20 334.0 25700 1714
---------------------------------------------------------------------------
131.45 133.00 1.55 22.47 56.0 35355 1653
---------------------------------------------------------------------------
192.37 195.00 2.63 2.95 30.9 1493 1593
---------------------------------------------------------------------------
228.00 228.70 0.70 1.38 473.0 933 1559
---------------------------------------------------------------------------
283.50 284.00 0.50 142.10 96.0 499 1505
---------------------------------------------------------------------------
320.75 323.77 3.02 7.36 22.7 527 1468
---------------------------------------------------------------------------
360.80 363.60 2.80 5.05 12.3 609 1428
---------------------------------------------------------------------------
390.13 392.00 1.87 4.55 5.8 2517 1400
---------------------------------------------------------------------------
393.00 396.90 3.90 3.17 8.4 531 1393
---------------------------------------------------------------------------
433.00 435.00 2.00 7.65 5.2 353 1358
---------------------------------------------------------------------------
444.50 446.00 1.50 6.24 8.5 1300 1345
---------------------------------------------------------------------------
489.30 491.50 2.20 4.57 2.1 322 1302
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY186 112.10 112.80 0.70 21.01 549.0 66600 1618
---------------------------------------------------------------------------
268.10 269.45 1.35 7.07 36.3 963 1462
---------------------------------------------------------------------------
401.65 412.00 10.35 18.15 25.2 885 1330
---------------------------------------------------------------------------
incl. 402.10 404.75 2.65 42.59 42.0 1697
---------------------------------------------------------------------------
414.00 421.80 7.80 7.02 28.2 1187 1314
---------------------------------------------------------------------------
446.30 450.00 3.70 2.70 14.1 506 1284
---------------------------------------------------------------------------
453.00 454.00 1.00 12.36 60.0 210 1280
---------------------------------------------------------------------------
477.30 494.90 17.60 4.15 9.7 174 1249
---------------------------------------------------------------------------
incl. 484.25 487.60 3.35 12.63 11.5 518
---------------------------------------------------------------------------
499.75 501.20 1.45 18.50 24.5 1267 1234
---------------------------------------------------------------------------
516.25 517.15 0.90 17.04 37.6 490 1221
---------------------------------------------------------------------------
EOH 518.65 519.00 0.35 5.20 21.0 154 1215
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY192 212.00 214.50 2.50 3.99 5.7 808 1577
---------------------------------------------------------------------------
282.00 283.22 1.22 18.67 3.9 1433 1512
---------------------------------------------------------------------------
291.65 295.00 3.35 2.89 12.4 1411 1501
---------------------------------------------------------------------------
301.00 311.70 10.70 11.22 146.2 937 1489
---------------------------------------------------------------------------
incl. 305.08 308.32 3.24 32.70 350.6 2006
---------------------------------------------------------------------------
408.00 410.10 2.10 4.21 24.9 407 1396
---------------------------------------------------------------------------
417.60 421.10 3.50 6.17 5.9 196 1387
---------------------------------------------------------------------------
427.75 432.00 4.25 24.12 57.9 301 1378
---------------------------------------------------------------------------
457.30 458.30 1.00 5.35 22.0 167 1352
---------------------------------------------------------------------------
492.56 493.70 1.14 6.13 29.7 685 1322
---------------------------------------------------------------------------
499.10 503.43 4.33 3.57 10.7 238 1314
---------------------------------------------------------------------------
(i)Intercepts calculated at 1g/t gold-equivalent cut-off grade. True widths
unknown, but mostly between 60 and 30% of the down-hole interval.
Drilling at Veta Sur has focused on and been successful at:
-- extending the system to the southwest
-- extending and better defining the central high grade part of the system
-- evaluating the deep extensions in the northeast and southwest
Two drill-holes (BUSY167 and BUSY180) were drilled in the gap between central
and western Veta Sur (Figure 1). Both intersected multiple high grade auriferous
veins (for example, BUSY167 2.25 m @ 43.76 g/t gold, 113 g/t silver and BUSY180
2.10 m @ 21.31 g/t gold and 31 g/t silver) within broader intervals (for
example, BUSY167 25.45 m @ 12.02 g/t gold, 57.4 g/t silver) of medium grade gold
exhibiting moderate base metal contents.
Four drill-holes (BUSY186, BUSY181, BUSY165 and BUSY185: Figures 1 and 2)
targeted the central part of Veta Sur. Each intersected multiple high grade
auriferous veins (some with high silver contents) commonly within broader
mineralized intervals. These intercepts (Table 1) demonstrate strong grade
continuity of vein sets along strike and dip. BUSY186 extended high grade gold
mineralization down to elevations below 1250m RL in central Veta Sur (Figure 2).
Each hole also displayed several intersections with Stage II overprints,
significantly extending the area of influence of this high grade mineralization.
BUSY192 was drilled to clarify the extensions of the Veta Sur system to the
northeast, under the Diatreme Fault system. Mineralised intercepts in this
drill-hole occur over a substantial depth range down to 1300m RL (Figure 2).
High grade vein sets (from 305.08m down-hole, 3.24 m @ 32.70 g/t gold, 350.6 g/t
silver and from 427.75 m, 4.25 m @ 24.12 g/t, 57.9 g/t silver) correlate well
with those in BUSY150, BUSY90 and BUSY82 also drilled in northeast Veta Sur,
extending these veins both laterally & vertically.
BUSY164 expanded the Veta Sur system to the southwest (Figure 1), encountering
several auriferous base metal-rich veins (Table 1) in this area.
Several drill-holes added significantly to the emerging silver story in the Veta
Sur system. BUSY 164 intersected a set of veins with high Ag/Au in southern Veta
Sur, including 3.0 m @ 517 g/t silver. BUSY167 (0.4 m @ 11 g/t gold, 350 g/t
silver) and BUSY186 (0.7 m @ 21.01 g/t gold, 549 g/t silver) intersected good
silver grades on the southern side of Veta Sur (Figure 1) confirming a high
silver vein set through this area. BUSY181 (1 m @ 6.51 g/t Au, 340 g/t silver),
BUSY165 (1.10 m @ 3.90 g/t gold, 1424 g/t silver) and BUSY185 (0.70 m @ 1.38 g/t
gold, 473 g/t silver) all encountered multiple intervals of high grade silver on
the northern side of Veta Sur, adding to extents of silver-rich veins in this
area.
Yaragua (Figure 1)
Significant new drill intercepts in the Yaragua system are tabulated below:
---------------------------------------------------------------------------
From To Interval Gold Silver Zinc Vein
Drillhole (m) (m) (m) (g/t) (g/t) (ppm) Name
---------------------------------------------------------------------------
BUUY59 10.20 22.40 12.20 3.59 19.0 22693 Breccia
---------------------------------------------------------------------------
incl. 14.90 19.40 4.50 6.20 22.3 25567 Murcielagos
---------------------------------------------------------------------------
31.50 35.90 4.40 2.26 25.2 16586 Murcielagos
---------------------------------------------------------------------------
67.10 71.50 4.40 3.93 4.2 278 Murcielagos
---------------------------------------------------------------------------
76.90 80.40 3.50 5.93 9.0 7019 Murcielagos
---------------------------------------------------------------------------
81.90 85.10 3.20 2.98 3.2 3513 Murcielagos
---------------------------------------------------------------------------
240.00 241.00 1.00 5.44 46.0 4035 Vein B
---------------------------------------------------------------------------
364.90 365.30 0.40 15.85 6.5 1717 Vein C
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUUY58 10.00 20.00 10.00 2.28 15.10 21788 Murcielagos
---------------------------------------------------------------------------
22.00 35.50 13.50 2.74 6.6 7927 Murcielagos
---------------------------------------------------------------------------
169.00 170.50 1.50 3.21 3.1 655 Vein B
---------------------------------------------------------------------------
188.50 202.00 13.50 11.24 9.9 3526 Vein B
---------------------------------------------------------------------------
incl 199.80 202.00 2.20 55.12 30.6 5987 Vein B
---------------------------------------------------------------------------
207.60 208.60 1.00 14.44 9.4 1143 Vein B
---------------------------------------------------------------------------
209.90 211.00 1.10 8.11 14.0 2455 Vein B
---------------------------------------------------------------------------
296.00 296.70 0.70 7.44 70.0 10500 Vein C
---------------------------------------------------------------------------
320.00 321.50 1.50 3.19 30.0 4381 Vein C
---------------------------------------------------------------------------
400.80 402.60 1.80 2.80 10.8 1977 Sofia
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY178 131.00 131.55 0.55 22.80 38.0 1009 Vein A
---------------------------------------------------------------------------
144.50 146.00 1.50 5.44 26.0 527 FW Vein
---------------------------------------------------------------------------
161.40 168.00 6.60 6.01 35.2 4318 San A
---------------------------------------------------------------------------
incl. 164.59 168.00 1.53 19.29 72.0 5881 San A
---------------------------------------------------------------------------
265.00 267.20 2.20 3.60 7.8 1551 Vein C
---------------------------------------------------------------------------
335.50 336.00 0.50 5.03 5.1 6650 Vein B
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY182 138.35 140.00 1.65 2.18 9.2 604 Vein A
---------------------------------------------------------------------------
143.10 144.85 1.75 2.01 38.0 2589 San A
---------------------------------------------------------------------------
222.63 237.65 15.02 2.70 3.2 102 Vein C
---------------------------------------------------------------------------
291.80 293.30 1.50 3.06 55.0 2896 Vein B
---------------------------------------------------------------------------
327.85 342.95 15.10 3.83 4.9 8308 Murcielagos
---------------------------------------------------------------------------
incl. 329.35 333.85 4.50 9.68 7.4 5977 Murcielagos
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUUS004 None
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUUS006 4.50 7.50 3.00 2.96 2.10 1872 FW Vein
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUUS007 4.50 6.00 1.50 3.52 4.9 2107 FW Vein
---------------------------------------------------------------------------
(i)Intercepts calculated at 1g/t gold-equivalent cut-off grade. True widths
unknown, but mostly between 60 and 30% of the down-hole interval.
BUUY- and BUUS- drill-holes collared in underground openings.
Drilling in the Yaragua area has focused on and been successful in:
-- extending the vein system to the west of previous drilling
-- defining the main vein sets below other drilling in west-central Yaragua
BUSY178 and BUSY182 (Figure 1) both intersected multiple auriferous veins (see
Table 2 for vein correlations) within broader mineralized intervals that
correlate well between holes. The drill intercepts are up to 100metres west of
those encountered in previous drilling and demonstrate the continuity of the
Yaragua system at relatively high elevations and also deep below the Diatreme
Fault.
BUUY58 and BUUY59 (Figure 1) drilled to north in west-central Yaragua also
intersected multiple vein sets (see Table 2 for vein correlations) and broader
intervals of breccias-hosted mineralization, some intercepts being deeper than
previous drilling in this area. These drill holes further demonstrate the
lateral and vertical continuity of the southerly and central vein sets in
west-central Yaragua.
BUUS006 and BUS007, short holes drilled to clarify the distribution of
mineralization in the walls of underground openings, both intersected veins
north of and footwall to the San Antonio vein.
Yaragua South (Figure 1)
Significant new intercepts from drill-holes collared in the Yaragua South area
are tabulated below:
---------------------------------------------------------------------------
From To Interval Gold Silver Zinc
Drillhole (m) (m) (m) (g/t) (g/t) (ppm) Vein Name
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY168 none
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY176 Yaragua
240.50 242.50 2.00 20.44 4.2 491 South
---------------------------------------------------------------------------
Yaragua
276.50 279.75 3.25 6.55 11.0 1871 South
---------------------------------------------------------------------------
Yaragua
336.00 341.00 5.00 3.05 13.0 5988 South
---------------------------------------------------------------------------
Yaragua
343.80 344.30 0.50 6.87 93.0 80300 South
---------------------------------------------------------------------------
367.40 368.00 0.60 22.34 23.0 66800 Murcielagos
---------------------------------------------------------------------------
457.60 459.00 1.40 4.03 11.0 8854 Murcielagos
---------------------------------------------------------------------------
473.65 474.15 0.50 7.81 112.0 24800 Murcielagos
---------------------------------------------------------------------------
516.50 518.10 1.60 4.68 1.6 1289 Vein B
---------------------------------------------------------------------------
521.10 522.60 1.50 5.65 8.6 10200 Vein B
---------------------------------------------------------------------------
529.30 530.50 1.20 4.11 19.0 59300 Vein B
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY179 24.60 25.50 0.90 7.17 55.0 26 Murcielagos
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY183 Yaragua
75.70 78.00 2.30 3.09 16.2 2625 South
---------------------------------------------------------------------------
Yaragua
119.60 120.55 0.95 4.33 18.0 147 South
---------------------------------------------------------------------------
282.80 284.45 1.65 5.63 31.7 4041 Murcielagos
---------------------------------------------------------------------------
326.50 327.00 0.50 5.89 36.0 1715 Murcielagos
---------------------------------------------------------------------------
492.55 502.55 9.95 4.60 2.9 472 Vein B
---------------------------------------------------------------------------
incl. 498.50 500.00 1.50 10.50 5.7 930 Vein B
---------------------------------------------------------------------------
501.10 502.50 1.40 14.16 8.3 441 Vein B
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY187 74.50 77.40 2.90 4.53 588.0 25784 Murcielagos
---------------------------------------------------------------------------
incl. 74.50 75.90 1.40 5.99 1210.0 47250 Murcielagos
---------------------------------------------------------------------------
88.90 90.40 1.50 2.49 74.0 8202 Murcielagos
---------------------------------------------------------------------------
103.35 104.40 1.05 6.60 9.4 6347 Murcielagos
---------------------------------------------------------------------------
Yaragua
308.60 310.10 1.50 4.13 3.2 845 South
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BUSY188 None
---------------------------------------------------------------------------
(i)Intercepts calculated at 1g/t gold-equivalent cut-off grade. True widths
unknown, but mostly between 60 and 30% of the down-hole interval.
Drilling from the Yaragua South area has focused on and been successful in:
-- evaluating the easterly and depth extensions of the southern Yaragua
vein sets
-- clarifying the distribution of auriferous and silver-rich veins south of
the main Yaragua system
BUSY183 and BUSY176 each intersected multiple vein sets (Table 3) of the
southern Yaragua system extending these veins to depths substantially below
underground openings in eastern Yaragua (Figure 1).
Both drill-holes, at shallower depths, resulted in the discovery of several new
auriferous vein sets in the Yaragua South area. The distribution of these
intercepts and surface geochemical anomalies may indicate that these vein sets
have substantial strike and depth extents.
BUSY187 intersected high grade silver veins (including 1.40 m @ 5.99 g/t gold,
1210 g/t silver) south of the main Murcielagos veins, confirming substantial
strike and depth extents of this silver-rich southerly system.
To view the figures associated with this Press Release, please visit the
following links:
http://media3.marketwire.com/docs/cnl-0831-fig1.pdf
http://media3.marketwire.com/docs/cnl-0831-fig2.pdf
Technical Information
The results of the Company's drilling program have been reviewed, verified and
compiled by Vic Wall, PhD, a qualified person for the purpose of NI 43-101. Dr.
Wall is a geologist with 35 years in the minerals mining, consulting,
exploration and research industries. Following a career in Australian and North
American academes, he held senior positions in a number of multinational major
and junior minerals companies. A Fellow of the Australian Institute of
Geoscientists, Dr. Wall is Principal of Taylor Wall & Associates, a
Brisbane-based consultancy that provides geoscientific services to mineral
companies and government agencies, worldwide.
The company utilizes an industry-standard QA/QC program. HQ and NQ diamond
drill-core is sawn in half with one half shipped to a sample preparation lab in
Medellin run by SGS Colombia. 100% of BQ diameter drill samples are shipped.
Samples are then shipped for analysis to SGS certified assay laboratory in Lima,
Peru. The remainder of the core is stored in a secured storage facility for
future assay verification. Blanks, duplicates and certified reference standards
are inserted into the sample stream to monitor laboratory performance and a
portion of the samples are periodically check assayed at ACME laboratories in
Vancouver and/or Inspectorate Labs in Reno.
About Continental Gold Limited
Continental Gold Limited (TSX:CNL) is an advanced-stage exploration company with
nine gold projects covering over 197,000 hectares in Colombia. Spearheaded by a
management team with over 40 years of exploration and mining experience in South
America, the Company has begun an aggressive exploration program on its
extensive portfolio of properties with a focus on Buritica, its flagship
high-grade gold project. Additional details on the Buritica project and the rest
of Continental's suite of gold exploration properties is available at
www.ContinentalGold.com.
Forward-Looking Statements
This press release contains or refers to forward-looking information under
Canadian securities legislation, including statements regarding the estimation
of mineral resources, exploration results, potential mineralization, exploration
and mine development plans, timing of the commencement of operations and
estimates of market conditions, and is based on current expectations that
involve a number of business risks and uncertainties. Forward-looking statements
are subject to significant risks and uncertainties, and other factors that could
cause actual results to differ materially from expected results. Readers should
not place undue reliance on forward-looking statements. Factors that could cause
actual results to differ materially from any forward-looking statement include,
but are not limited to, failure to convert estimated mineral resources to
reserves, capital and operating costs varying significantly from estimates, the
preliminary nature of metallurgical test results, delays in obtaining or
failures to obtain required governmental, environmental or other project
approvals, political risks, uncertainties relating to the availability and costs
of financing needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the development
of projects and the other risks involved in the mineral exploration and
development industry, as well as those factors discussed in the section entitled
"Risks of the Business" in the Company's most recent Annual Information Form and
other regulatory filings which are posted on SEDAR at www.sedar.com. These
forward-looking statements are made as of the date hereof and the Company
assumes no responsibility to update them or revise them to reflect new events or
circumstances other than as required by applicable securities law.
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