 | | | Publié le 23 février 2007 | Undertakes environmental baseline Study |
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COLOMBIA GOLDFIELDS UNDERTAKES ENVIRONMENTAL BASELINE STUDY
TORONTO, Ontario (February 23, 2007) - Colombia Goldfields Ltd. (CGDF.OB) ("CGL" or the "Company"), today reported that significant advances towards preparation of its Environmental Baseline Study for the Marmato Mountain gold project have been made. The study will form the basis for the Company's future environmental permits and its Social and Environmental Impact Statement (EIS).
Vegetation cover maps of the Cascabel Basin have been completed and soil sampling is underway for each vegetation type. The Company has also purchased and installed a permanent solar powered weather station to measure temperature, wind direction and velocity, rain, solar radiation, relative humidity, and evaporation.
Additionally, the first detailed water monitoring ever undertaken at Marmato was completed in December 2006 at 18 locations in three creeks and two locations on the Cauca River. The sampling was a joint effort with Corpocaldas, the State Environmental Agency responsible for the Environment in the Department of Caldas. Due to unregulated discharge from the mills and the lack of any tailings disposal facilities at Marmato , cyanide levels are toxic in all locations and the amount of suspended solids is many times above acceptable levels.
CGL has established that it has no current environmental liability for these past practices and has already received approval for drilling from Corpocaldas under an approved Environmental Management Plan. Nevertheless, the Company intends to meet or exceed modern global standards of environmental stewardship in the preparation of the Baseline study and subsequent EIS.
CGL has engaged or will engage a number of leading environmental consultants to assist in this work. LHC Consultores Ambientales has been engaged to implement the environmental strategies in Colombia; additionally CGL intends to hire an independent external consultant to oversee environmental gathering and collecting practices. Knight, Piesold and Company, Denver, Colorado, conducted a review of the Colombian Terms of Reference for the completeness and compliance with International Banking Institution Standards for preparation of Social and Environmental Impact Statements, and their suggested changes are being incorporated into the framework of the work underway.
This work includes repetition of the water sampling program every four months. The Company has also mapped all areas of solid rock waste disposal and outlined areas of inherent slope instability both for future mining and for monitoring dangers to the present town of Marmato.
In the Zona Alta at Marmato Mountain the company has purchased the majority of the legal small mines and a large number of the small mills. To improve the environment the mills will be shut down and dismantled and the mines will be closed to commercial production but will be kept open for exploration drilling and sampling.
The benefits for the community include:- Elimination of unsafe mining practices;
- Improvement of the water quality by reducing and eventually stopping toxic waste disposal and solid effluent discharge;
- Assistance to the government in environmental management;
- Improve quality of life for the inhabitants of the Municipality of Marmato.
About Colombia Goldfields
Colombia Goldfields Limited, through its Colombian subsidiaries Cia Minera de Caldas S.A. and Gavilan Minerales S.A., is developing a multi-million ounce gold resource in Colombia's historic Marmato Mountain gold district through a program of property acquisitions, community resettlement and exploration.
Disclaimer
This release contains forward-looking statements that are based on the beliefs of Colombia Goldfield's management and reflect Colombia Goldfield's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. When used in this release, the words "estimate, "project," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward-looking statements. Such statements reflect the current views of Colombia Goldfields with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements.
Contact:
Randy Martin, President & CEO
Colombia Goldfields Ltd. (OTC BB: CGDF)
8 King Street East, Suite 208
Toronto, Ontario, M5C 1B5
B: 416-203-3856
F: 416-361-0883
info@colombiagoldfields.com
www.colombiagoldfields.com
Martti Kangas
The Equicom Group
Toronto, ON
416-815-0700 x 243
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Colombia Goldfields est une société de production minière d'or basée au Canada. Colombia Goldfields est productrice d'or, d'argent en Colombie, et détient divers projets d'exploration en Colombie. Son principal projet en production est MARMATO MINE en Colombie. Colombia Goldfields est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 25,0 millions CA$ (24,9 millions US$, 16,8 millions €). La valeur de son action a atteint son plus haut niveau récent le 11 janvier 2008 à 1,20 CA$, et son plus bas niveau récent le 05 décembre 2008 à 0,01 CA$. Colombia Goldfields possède 104 224 000 actions en circulation. |
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