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"Our current reserves and resources are just a tip of the iceberg of what's to come," says Ari Sussman, CEO of Continental Gold

With 8.60 grams of gold per tonne, the test "yielded significantly more ounces of precious metals than we estimated," said CEO Ari Sussman.

“Accelerating the drilling program only makes sense given the upside,” said Ari Sussman, CEO of Continental Gold.

How the explosion occurred after the personnel entered the mine remains unclear, but one member of the crew managed to survive a blast.

Three rigs are now operating in this 15,000-meter exploration campaign, and two more are planned to join the effort later this year.

The new director is an executive at Newmont Mining Corporation, which acquired a board seat following a recent $109 million USD investment in Continental Gold.

All of Continental Gold's nominees were approved while receiving at least 99.8% of the vote, according to a filing by the Toronto-based mining company.

The credit agreement is expected to provide immediate access to $100 million USD for project development, construction, and working capital.

The authorization allows Continental Gold to expand its current mining site and build a processing plant capable of handing up to 3,200 tonnes per day.

"Its inclusion in both indices is a reflection of the hard work and dedication of our employees,” said company CEO Ari Sussman.