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TORONTO, ONTARIO -- (Marketwire) -- 02/12/13 -- Continental Gold Limited (TSX: CNL)(OTCQX: CGOOF) ("Continental" or the "Company") is pleased to announce results for ten diamond drill-holes in the Yaragua vein system, including two holes which confirmed the discovery of a new vein system called San Agustin. These results are part of the Company's ongoing exploration program at the Buritica Project in Antioquia, Colombia. Seven drills are currently on site as part of the Company's Phase IV, minimum 95,000-metre diamond drill program for 2013.
Highlights
San Agustin Vein Target (Figures 1 and 2)
-- Exploration drilling into the San Agustin target, located up to 400 metres north of the Yaragua vein system, has resulted in the discovery of several veins at depth. High-grade intercepts in the western side of San Agustin include: -- 0.4 metres @ 49.7 g/t gold and 163 g/t silver (BUSY329, elevation 692 metres) -- 0.53 metres @ 0.8 g/t gold and 647 g/t silver (BUSY324, elevation of 756 metres) -- 1.63 metres @ 6.3 g/t gold and 7 g/t silver (BUSY324, elevation of 627 metres)
Some 500 metres further east, high-grade intercepts in the southern San Agustin vein families include:
-- 3.0 metres @ 7.2 g/t gold, 43 g/t silver and 8% zinc (BUUY093, elevation of 1,109 metres)-- 2.0 metres @ 1.0 g/t gold and 701 g/t silver (BUUY094, elevation of 1,178 metres)-- The drilling results and the surface geochemistry testing the San Agustin vein system indicate potential of over 500 metres of lateral strike length and between 500-900 metres of vertical extents. The system remains open along strike to the east, west and at depth.
Yaragua Vein System (Figures 1 and 2)
-- In western Yaragua, two drill-holes transected the Yaragua vein system, extending some of the northern vein families at depth. Intercepts outside of the October 2012 mineral resource model ("current mineral resource") include: -- 1.5 metres @ 16.6 g/t gold and 5 g/t silver and 3.4 metres @ 7.4 g/t gold and 7 g/t silver (BUSY324, Sofia vein package, elevations of 1,196 and 1,194 metres, respectively) -- 3.1 metres @ 8.5 g/t gold and 242 g/t silver, including 0.56 metres @ 34.9 g/t gold, 1,060 g/t silver and 13.5% zinc (BUSY324, VND package, elevation of 1,066 metres) -- 0.7 metres @ 11.1 g/t gold and 838 g/t silver and 1.15 metres @ 6.8 g/t gold and 252 g/t silver (BUSY324, VNA package, elevations of 997 and 960 metres, respectively) -- 0.41 metres @ 14.9 g/t gold and 206 g/t silver (BUSY329, VNA package, elevation of 1,167 metres)-- BUSY324 and BUSY329 otherwise intersected veins of grades and thicknesses consistent with the current mineral resource model. Drill- hole intercepts exhibiting substantially greater apparent thicknesses and/or higher grades than the current resource model include: -- 1.79 metres @ 15.7 g/t gold and 31 g/t silver (BUSY324, VNC, elevation of 1,212 metres) -- 4.85 metres @ 14.8 g/t gold and 11 g/t silver (BUSY324, VNCZ, elevation of 1,206 metres) -- 5.1 metres @ 14.2 g/t gold and 39 g/t silver, including 1.15 metres @ 52.6 g/t gold and 111 g/t silver (BUSY329, MU1, elevation of 1,377 metres) -- 3.8 metres @ 13.6 g/t gold and 15 g/t silver (BUSY329, Sofia vein package, elevation of 1,259 metres) -- 6.65 metres @ 4.3 g/t gold and 4 g/t silver, including 0.83 metres @ 17.4 g/t gold and 7 g/t silver (BUSY329, FWV, elevation of 1,227 metres)-- Eight drill-holes transected the central and northern vein families in eastern Yaragua extending several of the northern vein sets to depth and/or along strike. Intercepts outside of the current mineral resource model include: -- 0.39 metres @ 0.7 g/t gold and 829 g/t silver and -- 5.1 metres @ 3.0 g/t gold, 81 g/t silver, including 1.6 metres @ 6.2 g/t gold and 224 g/t silver (BUUY091, VND package, mean elevation 1,075 metres) -- 4.5 metres @ 5.4 g/t gold and 9 g/t silver, including 0.85 metres @ 16.7 g/t gold and 8 g/t silver (BUUY093, VND package, elevation of 1,312 metres) -- 1.4 metres @ 9.5 g/t gold and 2 g/t silver (BUUY095, VND package, elevation of 1,197 metres) -- 27 metres @ 9.5 g/t gold and 54 g/t silver, including 2.5 metres @ 86.5 g/t gold and 87 g/t silver (BUUY095, VNA package, elevation of 1,166 metres) -- 4.5 metres @ 4.1 g/t gold and 83 g/t silver, including 1.1 metres @ 12.5 g/t gold and 257 g/t silver (BUUY096, VND package, elevation of 1,138 metres) -- 41.2 metres @ 3.9 g/t gold and 31 g/t silver, including 1.2 metres @ 35.8 g/t gold and 267 g/t silver (BUUY096, VNA package, elevation of 1,117 metres) -- 1.7 metres @ 25.3 g/t gold and 84 g/t silver (BUUY097, HWV package, elevation of 1,339 metres)
