www.colombiacrestgold.com
Colombia Crest Gold Corp. is a gold exploration company with nearly 300 square kilometres of mineral title at the San Simon project in northeastern Bolivia. The structures that host gold mineralization on the property are geologically identical to some of the major well-known quartz vein gold deposits and gold shoots, such as those found in Western Africa. The company has identified three areas at San Simon with open-pit and underground gold resource potential. Colombia crest’s mandate is to increase shareholder value by systematically exploring, developing and monetizing the San Simon gold project, followed by new gold acquisitions in Colombia.
Eaglecrest Exploration confirms connection between Buriti and Paititi gold zones at San Simon
Eaglecrest Explorations (TSX-V: EEL, FRANKFURT: EAT) said that its sampling and trenching program confirmed that the Buriti and Paititi gold zones at its San Simon property in Bolivia are connected through the San Francisco zone that lies between both zones.
Thirty of the 122 samples taken at the high-grade Buriti zone returned results greater than 1 g/t (gram per tonne) of gold, while assay results from surface rock chip and channel samples showed grades of up to 160 g/t gold.
The company said that exposed gold mineralization at Paititi, which resulted from 20 years of artisan mining, has provided valuable information by allowing field mapping of the gold mineralized rock while also helping its geologists identify more zones along the trend.
The program also included the digging of 10 trenches with a backhoe to test between the Buriti and Paititi zones and all of them intercepted gold mineralized structures with quartz veins, veinets or stockwork zones. Assay values varied from below detection to 13 g/t gold.
Additional trenches are planned to be dug in the coming months to identify drill targets.
A work program of US$6 million has been approved for 2010, which will include the completion of a NI 43-101 qualified Mineral Resource model for the Trinidad-Mina Vieja gold shoots and eastward within the Dona Amelia zone at San Simon, where detailed drilling in 2007-2008 returned over one-third of the drill holes with intercepts greater than 10 g/t. The program will also include the launch of a drill campaign to test the Paititi zone and the identification of two to four mineralized zones that have been discovered recently at Buriti with about five drill holes planned for each zone.
Eaglecrest also plans to launch an exploration program in Fredonia, Colombia, beginning with detailed airborne magnetics coincident with stream sediment sampling and mapping to identify target areas in the project area spanning over 18,000 ha (hectares). The initial phases of exploration are designed to identify potential areas for further detailed work and the eventual results will focus on identifying targets for drilling later in the year.
“The combination of a NI 43-101 resource calculation for Trinidad-Mina Vieja, along with successful drill results leading to a potentially large open-pit style resource at Paititi will add substantial value to our projects and should give Eaglecrest some well-deserved support in the market,” said president and chief operating officer of Eaglecrest Hans Rasmussen.
