VANCOUVER, Feb. 4, 2014 /CNW/ - Cosigo Resources Ltd. (TSX-V: CSG) today announced the receipt of assay results from three reverse-circulation drill holes on the Machado project in southeastern Colombia. Results have now been received for all of the 20 holes drilled by Cosigo during its 2013 drill program.
"Our first drill program has shown that the Machado property is underlain by gold-bearing strata with several of our drill holes intersecting high grade gold." stated Dennis Milburn, President and CEO of Cosigo. "The potential for strata-bound mineralization is particularly encouraging given the large size of the metasedimentary system, which forms the Taraira Gold Belt."
Table 1. Machado screen fire assay results
|Drill Hole||From (m)||To (m)||Width (m)*||Au (g/t)|
|13MR006||Several zones of weak Au mineralization|
*Interval widths are down-hole. True widths are yet to be determined
Complete results with maps and sections of the drill holes from the 2013 drill program at Machado have been made available on the Cosigo website(www.cosigo.com).
In addition to gold fire assays, multi-element analysis was carried out on Cosigo's drill samples. The gold and multi-element data, as well as geological information from the drill holes, will be interpreted by Cosigo's technical team in order to guide the Company's exploration efforts.
Cosigo's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Dr. Joseph H. Montgomery, P.Eng., Executive Vice President of Cosigo Resources Ltd., who serves as a Qualified Person as defined in National Instrument 43-101. Cosigo's quality assurance and quality control procedures include the systematic insertion of blanks and standards into the drill-sample string. Drill chip samples were split and placed in sealed containers prior to shipping to the ALS Minerals laboratory in North Vancouver for gold screen fire assay and multi-element analysis.
Cosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company with mineral interests in properties in Brazil, Colombia and Canada. Cosigo has assembled a strong team, well experienced in the exploration and mining-finance industries. The Company's main focus is in the Taraira Gold Belt, which straddles the border between northwestern Brazil and southeastern Colombia. In Brazil, geological mapping has identified more than 250 km2 of prospective geology and sampling has identified gold-bearing strata over long strike-lengths in several locations. Cosigo's ongoing work in the Taraira Gold Belt is the first modern exploration program in an area known to have hosted more than 100 historic gold mining operations.On behalf of the Board of Directors