Agoracom Updates
Good morning to you all. Please find enclosed a summary of the breaking small-cap and micro-cap financial news we highlighted on AGORACOM Small Cap TV this morning. It’s October 1st, 2012, and we’ve found 2 great press releases to report on at the open. Another great day for small-cap and micro-cap financial news. To watch the show live every morning at 9:30 AM, visit our front page ... or click on the image below.
Continental Gold Announces an Updated Mineral Resource Estimate for the Buritica Project, Colombia
Continental Gold Limited (TSX:CNL)(OTCQX:CGOOF) ("Continental" or the "Company") is pleased to announce an updated mineral resource estimate for the Yaraguá and Veta Sur vein systems at its 100%-owned Buriticá project in Antioquia, Colombia. Undertaken by independent consultants, Mining Associates Pty Ltd. ("MA"), the mineral resource estimate is based on 112,600 metres of drilling and 2,332 metres of underground sampling (as at June 30, 2012) and was prepared in accordance with National Instrument 43-101 ("NI 43-101"). The Company continues with a major surface and underground drilling program to expand and increase the level of confidence of the mineral resources for the Yaraguá and Veta Sur vein systems and to explore new targets at the Buriticá project.
Highlights
- Combined mineral resources for the Yaraguá and Veta Sur vein systems at a 3 g/t gold cut-off grade are newly estimated as:
Combined Yaraguá and Veta Sur Mineral Resources above a 3 g/t gold cut-off, June 30, 2012 |
|||||||
Resource |
Grades |
Metal |
|||||
Category |
Tonnes |
Au g/t |
Ag g/t |
Zn % |
Au oz |
Ag oz |
Zn lb |
Measured |
320,000 |
27.8 |
69 |
1.4 |
290,000 |
700,000 |
9,500,000 |
Indicated |
3,420,000 |
12.3 |
35 |
0.6 |
1,350,000 |
3,900,000 |
46,300,000 |
M & I |
3,740,000 |
13.6 |
38 |
0.7 |
1,640,000 |
4,600,000 |
55,800,000 |
Inferred |
13,330,000 |
8.8 |
33 |
0.5 |
3,760,000 |
14,200,000 |
156,500,000 |
About Continental Gold
Continental Gold Limited is an advanced-stage exploration and development company with an extensive portfolio of 100%-owned gold projects in Colombia. Spearheaded by a team with over 40 years of exploration and mining experience in Colombia, the Company is focused on advancing its high-grade Buriticá gold project to production.
Last: 8.81Range: 9.62-5.35Market Cap: 976 million
Castillian Resources Corp.: Hope Brook Indicated Mineral Resource Increases 102% to 590,000 Ounces Gold
Inferred Mineral Resource Totals 548,000 Ounces Gold
Castillian Resources Corp. (TSX VENTURE:CT)(OTCQX:CTIIF) ("Castillian" or the "Company") is pleased to announce an update to its National Instrument 43-101 ("NI 43-101") Mineral Resource estimate for the Hope Brook Gold Project in southwestern Newfoundland which was previously released on February 14, 2012. This update incorporates results from the 4,549 metre, 15 hole, Phase I diamond drilling program. This drilling confirmed major pillars in the Mine Zone area, confirmed locations of underground workings in the former mine and further extended the Southwest Extension target zone (see press releases dated June 5, 2012 and June 25, 2012). The updated mineral resource estimate is presented in Table 1 below.
Table 1: Hope Brook Gold Project as at October 1, 2012 |
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Within constraining shell |
Below constraining shell |
Total |
||||||||||||||||
Category |
Tonnes |
Grade |
Au |
Tonnes |
Gold |
Gold |
Tonnes |
Grade |
Au |
|||||||||
Indicated |
10.6 |
1.24 |
422 |
1.7 |
2.99 |
168 |
12.4 |
1.48 |
590 |
|||||||||
Inferred |
6.5 |
1.91 |
397 |
2.0 |
2.62 |
151 |
8.2 |
2.07 |
548 |
As shown in Table 2 below, total Indicated Mineral Resources increased 102% to 590,000 ounces of gold from the February 14, 2012 estimate. Total Inferred Mineral Resources had a modest decrease of 26% to 548,000 ounces of gold, which is the result of the successful conversion of Inferred to Indicated Mineral Resources through the 2012 diamond drilling program. Within the constraining shell, there was a significant increase in grade in both the Indicated and Inferred Mineral Resources, reflecting the confirmation of grade in pillars and location of underground workings.
ABOUT CASTILLIAN Castillian Resources Corp. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "CT" and on the OTCQX International under the symbol "CTIIF" The Company has gold and base metal properties in Canada and South America. Castillian's flag ship property is the Hope Brook Gold Project located in southwestern Newfoundland, which has 590,000 ounces of NI 43-101 compliant indicated mineral resources and 548,000 ounces of inferred mineral resources. Castillian has outlined an extensive new Gold-in-Soil anomaly trend on its Canadian Creek property in the Yukon that is adjacent to Kaminak's Sugar Gold-in-Soil trend.
Last: 0.035Range: 0.14-0.025Market Cap: 11.6 million