Columbus Gold provides corporate update

• Field work in French Guiana was suspended on 17 March and resumed on 11 May 2020.
• At the Montagne d’Or Gold Project, the bulk of the engineering studies for committed project improvements and modifications for mine permitting progressed remotely and are expected to be completed as scheduled by mid-year.
• Prospecting in the northern half of the Maripa Gold Project continued during 1Q20. Resampling of an old trench returned a cut averaging 2.57 g/t gold over 25 m. A new quartz-gold vein system exposed by artisanal mine workings was identified approximately 500 m west of the Filon Dron gold zone. A best assay of 38.87 g/t gold was obtained from samples of the quartz vein material.
• Line-cutting for ground geophysical surveying is in progress at Maripa in preparation for a diamond drilling program that will commence in 3Q20.
• The priority for 2020 remains the acquisition of an additional advanced-stage gold project in South America. Several opportunities have been identified and are under evaluation.

Rock Lefrançois, President and CEO of Columbus, commented: “I’m encouraged that despite the COVID-19 limitations in these challenging times, Columbus has been able to move forward with its corporate objectives, growth strategy and advancing its exploration activities.”

Maripa Gold Project

Columbus entered into an agreement in July 2018 with IAMGOLD Corp. to acquire up to a 70% interest in the Maripa Gold Project. Maripa is located in eastern French Guiana along a paved national road, approximately 60 km by road south of the capital city of Cayenne. The project is comprised of up to 5 contiguous exploration permits that cover an area of 120 km², namely the Changement, Maripa, Orapu, Crique Véoux and Maripa Sud-Est permits.

Past exploration at Maripa includes 134 core holes, for a total of 9000 m, which partially defined 5 broad gold zones; namely Changement, Filon Dron, Maripa Sud-Est, Rhyodacite and Filon Scieur. Drilling was limited to shallow depths within the oxidised saprolite layer with all 5 prospects returning drill hole intersections of economic interest with demonstrated potential for expansion and mineral resource delineation including: 4.3 g/t gold over 36 m; 12.4 g/t gold over 10.5 m; 1.8 g/t gold over 34.5 m, 2.5 g/t gold over 25.5 m and 2.2 g/t gold over 21.5 m. Gold mineralisation is associated with shear-tension quartz vein systems and vein stockworks localised along major fault zones marking a regional deformation corridor know as the Northern Guiana Trough.

Initial prospecting by Columbus in 2019 in the north half of Maripa led to the discovery of 4 new quartz-gold vein systems with high-grade ore potential in the vicinity of the Changement and Filon Dron gold zones.

The Maripa Gold Project 2020 exploration programme includes geological, ground geophysical and geochemical surveys and diamond drilling.

Read the article online at: https://www.globalminingreview.com/exploration-development/13052020/columbus-gold-provides-corporate-update/