More than 1,300 metres below surface geochemical anomalies, these intercepts are interpreted as deep extensions of the Veta Sur system, some 250 metres to the southwest and up to 400 metres deeper than the current mineral resource envelope. Mineralization in BUSY349 is commonly zinc-poor, pyrrhotite-bearing and geochemically similar to other deep mineralization in the Veta Sur and Yaragua systems.
BUSY346, drilled to the south of Veta Sur to test the northern La Estera Area, is interpreted to have intersected easterly extensions of the Laurel vein family at high elevations. Significant intercepts include:
-- 1.5 metres @ 5.4 g/t gold and 69 g/t silver (elevation of 1,702 metres); and-- 2.27 metres @ 6.4 g/t gold and 163 g/t silver, including 1.1 metres @ 12 g/t gold and 261 g/t silver (elevation of 1,698 metres).
Vic Wall, PhD, special advisor to the Company and a qualified person for the purpose of NI 43-101, has prepared or supervised the preparation of, or approved, as applicable, the technical information contained in this press release. Dr. Wall is a geologist with 35 years' experience 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 Vic Wall & Associates, a Brisbane-based consultancy that provides geoscientific services to mineral companies and government agencies, worldwide.
The Company utilizes a rigorous, industry-standard QA/QC program. HQ core is sawn or split with one-half shipped to a sample preparation lab in Medellin run by ALS Colombia Limited ("ALS") in Colombia. Samples are then shipped for analysis to an ALS-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 Analytical Laboratories in Vancouver, British Columbia and/or Inspectorate America Corp. in Reno, Nevada.
The Company does not receive assay results for drill-holes in sequential order; however, all significant assay results are publicly reported. A complete listing of assay results to date for the Buritica project is available on the Company's website at www.continentalgold.com.
For additional technical information on the Buritica project, please refer to the Company's technical report (the "Technical Report") entitled "2012 Mineral Resource Estimate of the Buritica Gold Project, Colombia" dated November 15, 2012 with an effective date of October 22, 2012, prepared by Andrew J Vigar, BAppSc Geo, FAusIMM, MSEG, and Martin Recklies, BAppSC Geo, MAIG, each of Mining Associates Pty Limited, available on SEDAR at www.sedar.com, on the OTCQX at www.otcmarkets.com and on the Company website at www.continentalgold.com.
About Continental Gold
Continental Gold Limited is an advanced-stage exploration and development company with an extensive portfolio of 100%-owned gold projects in Colombia. Spearheaded by a team with over 40 years of exploration and mining experience in Colombia, the Company is focused on advancing its high-grade Buritica gold project to production. On October 1, 2012, the Company announced an updated mineral resource estimate for the Buritica project prepared in accordance with NI 43-101 which covers two major vein systems, with combined Measured and Indicated mineral resource of 3,740,000 tonnes of mineralized material containing 1,640,000 ounces of gold grading 13.6 g/t gold, 4,600,000 ounces of silver grading 38 g/t silver, and 55,800,000 pounds of zinc grading 0.7% zinc. The combined Inferred mineral resource is 13,330,000 tonnes of mineralized material containing 3,760,000 ounces of gold grading 8.8 g/t gold, 14,200,000 ounces of silver grading 33 g/t silver and 156,500,000 pounds of zinc grading 0.5% zinc.