Canadian mining company Continental Gold announced yesterday that the ongoing exploratory drilling phase at its Buriticá mine in central Colombia has led to the discovery of an extension of a deposit that it now expects to yield additional gold and silver.
Categorized as a “vertical extension” within a “broad mineralized zone” (BMZ) that is home to precious-metal-bearing veins, the news has been encouraging enough to convince Continental Gold to ramp up its drilling efforts at the site.
The Toronto-based company said in a statement that it plans to expand from its current three drilling rigs to eight rigs by early November at its Buriticá mine in the department of Antioquia. With these additional resources and increased efforts, it said that it will now drill 25,000 meters before the end of the year, an increase from the planned 15,000 meters.
“Accelerating the drilling program only makes sense given the upside,” said Ari Sussman, chief executive officer of Continental Gold.
The company stated that it also now plans to construct a new drilling chamber “in the near future” that will explore deeper elevations within this BMZ of this Yaraguá deposit.
“The results of BMZ drilling are impressive to say the least and will lead to greater mine plan flexibility once commercial production commences in 2020,” said Sussman. “The potential is very real for upside growth in total mineral resource ounces and improved project economics.”
The full technical details of the drilling results can be found on the website of Continental Gold.
Photo: One of the tunnels at Continental Gold’s Buriticá mine in Antioquia, Colombia.