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Cosigo reports further gold-bearing intercepts at Machado
Published : February 04, 2014
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Cosigo reports further gold-bearing intercepts at Machado

/NOT FOR  DISTRIBUTION  TO  UNITED  STATES  NEWSWIRE  SERVICES  OR  FOR  DISSEMINATION  IN  THE  UNITED  STATES/

CSG: TSX-V

VANCOUVER, Feb. 4, 2014 /CNW/ - Cosigo Resources Ltd. (TSX-V: CSG) today announced the receipt of assay results from three reverse-circulation drill holes on the Machado project in southeastern Colombia. Results have now been received for all of the 20 holes drilled by Cosigo during its 2013 drill program.

  • Hole 13MR020 intersected 3.05m of 1.59 g/t Au from 9.14m down-hole depth inside a broader zone of weaker gold mineralization.

  • Hole 13MR010 intersected 3.05m of 0.98 g/t Au from 36.58m to the end of the drill hole.

  • Hole 13MR006 intersected several zones of weak gold mineralization.

"Our first drill program has shown that the Machado property is underlain by gold-bearing strata with several of our drill holes intersecting high grade gold." stated Dennis Milburn, President and CEO of Cosigo. "The potential for strata-bound mineralization is particularly encouraging given the large size of the metasedimentary system, which forms the Taraira Gold Belt."

Table 1. Machado screen fire assay results

Drill Hole From (m) To (m) Width (m)* Au (g/t)
13MR020 6.10 13.72 7.62 0.73
incl. 9.14 12.19 3.05 1.59
13MR010 36.58 39.63 3.05 0.98
13MR006 Several zones of weak Au mineralization

*Interval widths are down-hole. True widths are yet to be determined

Complete results with maps and sections of the drill holes from the 2013 drill program at Machado have been made available on the Cosigo website (www.cosigo.com).

In addition to gold fire assays, multi-element analysis was carried out on Cosigo's drill samples. The gold and multi-element data, as well as geological information from the drill holes, will be interpreted by Cosigo's technical team in order to guide the Company's exploration efforts.

QA / QC
Cosigo's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Joseph H. Montgomery, P.Eng., Executive Vice President of Cosigo Resources Ltd., who serves as a Qualified Person as defined in National Instrument 43-101. Cosigo's quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill-sample string. Drill chip samples were split and placed in sealed containers prior to shipping to the ALS Minerals laboratory in North Vancouver for gold screen fire assay and multi-element analysis.

About Cosigo Resources:
Cosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company with mineral interests in properties in Brazil, Colombia and Canada. Cosigo has assembled a strong team, well experienced in the exploration and mining-finance industries. The Company's main focus is in the Taraira Gold Belt, which straddles the border between northwestern Brazil and southeastern Colombia. In Brazil, geological mapping has identified more than 250 km2 of prospective geology and sampling has identified gold-bearing strata over long strike-lengths in several locations. Cosigo's ongoing work in the Taraira Gold Belt is the first modern exploration program in an area known to have hosted more than 100 historic gold mining operations.

On behalf of the Board of Directors
Cosigo Resources Ltd.
/s/ "Dennis Milburn"
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release. 

SOURCE Cosigo Resources Ltd.

For further information:

Barry Holmes, VP Corporate Development
Tel: +1-604-515-5970
Toll-free: 1-877-866-8688 (North America)
E-mail: bholmes@cosigo.com

Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Castle Gold Corporation

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CODE : CSG.V
ISIN : CA22122T1030
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Castle Gold Corp. est une société de production minière d'or basée au Canada.

Castle Gold Corp. est productrice d'or, d'argent au Guatemala et au Mexique.

Ses principaux projets en production sont EL SASTRE GOLD MINE, EL SASTRE, EL SASTRE - EL ARENAL, EL SASTRE BRIDGE ZONE et EL SASTRE - LUPITA ZONE au Guatemala et EL CASTILLO MINE au Mexique et son principal projet en exploration est LA FORTUNA DURANGO au Mexique.

Castle Gold Corp. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 776 300 CA$ (596 819 US$, 545 553 €).

La valeur de son action a atteint son plus haut niveau récent le 18 janvier 2008 à 0,75 CA$, et son plus bas niveau récent le 30 juillet 2015 à 0,01 CA$.

Castle Gold Corp. possède 77 630 000 actions en circulation.

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