Colombia Crest Gold announces assays from phase 1 drill program, plans for phase 2 drilling
Thursday, Dec 20, 2012Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX VENTURE:CLB)(PINKSHEETS:ECRTF)
Phase 1 drill holes were widely spaced (100 - 400 metres apart), testing a series of geophysical or geochemical anomalies across the Arabia porphyry complex, with the goal of identifying the best potential areas for further exploration. The Arabia porphyry complex is situated partially on the Venecia concession under option from Colombian Mines Corp., and partially on the Fredonia concession under option from Grupo de Bullet. Based on the results from Phase 1, the Phase 2 drill program in 2013 will target expansion of zones with the highest grade gold intercepts (holes 4, 8 and west of hole 15), while drill testing the newly discovered Garrucha target.
"The amount of dispersed gold encountered in the widely spaced Phase I drill program demonstrates there is a strong porphyry gold system at Arabia," commented Hans Rasmussen, President and CEO. "When compared to the prior soil and rock chip results, along with prior airborne magnetic data, our technical team now has a clearer picture of how to proceed with the next phase of drilling at Arabia. In early 2013 the team will compare drill results with the recently completed ZTEM geophysical survey, and prepare to drill test the best areas of Arabia and the newly discovered Garrucha target."
ZTEM Geophysical Survey
Geotech Ltd. recently completed its data collection over a portion of Colombia Crest's Fredonia-Venecia project utilizing helicopter-borne ZTEM geophysical technology for the first time in the Middle Cauca Belt. ZTEM is a proven technique for identifying potential porphyry systems in the Americas with examples from Alaska to Chile. This technology will be an important addition to the magnetics data the team uses to identify extensive depths of conductive and resistive elements associated with gold-copper porphyries. The electromagnetic survey is receptive to sulfide minerals, as well as silicification and clay alteration, all of which are associated with the porphyry and epithermal deposits in the Middle Cauca Belt. The resulting, interpretive ZTEM resistivity models will enhance Colombia Crest's understanding of porphyry-controlling structures and alteration at Arabia, Garrucha and other targets that were flown on a portion of the immense Fredonia-Venecia land package.
Sample Preparation and Assays
All drill core samples were sent to the Acme Labs Prep Laboratory in Medellin, Colombia. The chosen preparation method was code R200-250, which consists of crushing the entire sample to 80% passing 10 mesh (2 millimetres), split 250 grams and pulverize to 85% passing 200 mesh (75 microns). Once prepared, 200 gram pulps are shipped to the AcmeLabs in Vancouver, Canada for analysis. Gold was assayed under package G601 which consists of 30 grams fire assay and atomic absorption with detection limits from 0.005 to 10 parts per million and with a gravimetric finish for over limits. A multi element package (1EX) of 41 elements including silver, base metals and pathfinder elements was also analyzed using ICP mass spectroscopy. The ICP multi-element analysis uses a four-acid total digestion prior to analysis.