Development-stage Continental Gold has received a positive and high-grade mineral resource estimate for a mineralised zone in the central-west portion of the Yaraguá system at its Buriticá project in Antioquia, Colombia.
The estimate for broad mineralized zone 1 (BMZ1) showed a combined measured and indicated mineral resource of 828 870 t at 14.15 g/t gold and 22.9 g/t silver for 377 000 oz of gold and 611 000 oz of silver.
The indicated inferred mineral resource is estimated at 141 150 t at 5.37 g/t gold and 12.1 g/t silver for 24 400 oz of gold and 55 000 oz of silver.
BMZ1 is a high-grade, steeply plunging, pipe-like ore shoot related to the intersection of two vein systems and includes discreet veins as well as disseminated and vein stockwork materials.
BMZ1 has a vertical extent of 400 m and ranges between 25 m and 40 m in width by 80 m to 120 m of lateral extent.
BMZ1 remains open at depth for expansion. Up to 10 000 m of drilling specifically targeting BMZ1 is planned in 2019.
“BMZ1 continues to expand and this initial mineral resource estimate highlights the potential of this zone to provide greater flexibility for mine planning and more ounces per vertical metre during production,” stated CEO Ari Sussman in a statement on Wednesday.
“Our 2019 drilling focus is to define the broad mineralised zones identified to date ahead of planned commercial production in 2020.”