Colombia Crest Gold receives high-grade sample results at El Retiro target
Tuesday, Jan 15, 2013
Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX VENTURE:CLB)(PINKSHEETS:ECRTF)(FRANKFURT:EAT) is pleased to announce the discovery of high-grade stream sediment sample results collected from the El Retiro target area, in the eastern portion of the Fredonia project, Middle Cauca Belt, Colombia. A total of 16 samples were collected over about 35 square kilometres. The sample results showed from below detection to 839 parts per billion gold (0.84 grams per tonne). The results indicate five distinct drainages with anomalous gold eroding from a bedrock lode-gold source - all targets for follow up sampling. Each basin represents approximately two square kilometres in aerial extent. The Company now has both disseminated porphyry style and high-grade vein style gold targets on the same property.
"These samples are very promising gold grades for stream sediment sample results, guiding us to further explore this area of the Fredonia project this year. We saw occurrences of high-grade vein gold in this portion of the Fredonia Project (up to 8.25 grams per tonne gold; see news release, December 20, 2010), and these new results indicate the mineralized area is much larger than previously thought," commented Hans Rasmussen, President and CEO. "Stream sediment sampling is our most effective first-pass tool in this area of Colombia because it allows our crews to samples large areas efficiently. Stream sediments are basically the eroded, dispersed version of the same rock coming from upstream somewhere - the next step is to find the bedrock source of the gold."
Over the past year, the Company has mainly focused on exploring the Arabia target where geophysics combined with outcropping gold-mineralized porphyry rock gave the team a starting point on the property. Because the phase 1 drilling has been completed at Arabia, the geologic team now has time to evaluate some of the other targets in the 30,000 hectare Fredonia land package, including the Garrucha target and the newly-sampled El Retiro target area described above.