Columbus Gold Hires Coffey for New Resource Estimate at Montagne d'Or
May 30 2014 - 9:00AM
Marketwired
Columbus Gold Hires Coffey for New Resource Estimate at Montagne
d'Or
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2014) -
Columbus Gold Corporation (TSX-VENTURE:CGT) ("Columbus Gold")
reports the signing of a contract with Coffey Mining Pty Ltd
("Coffey") to complete a new NI 43-101 compliant resource estimate
of Columbus Gold's Montagne d'Or gold deposit, as a result of
reservations expressed by SRK Consulting (U.S.), Inc. ("SRK"), and
supported by Mine Development Associates, respecting certain
methodologies previously employed by Coffey in their NI
43-101-compliant 2012 technical report on Montagne d'Or (see May
5th, 2014 press release).
Although SRK's reservations were not expressed in a NI 43-101
compliant report, in the interest of providing timely public
disclosure, Columbus Gold issued the May 5th press release,
indicating that it had not yet had the opportunity to obtain
comment from Coffey on their choice of methodologies used in their
resource estimate and that it would provide conclusive clarity on
the matter by obtaining comment from Coffey and commissioning a new
independent NI 43-101 compliant resource update.
Pursuant to the terms of the contract signed with Coffey, it is
anticipated that a new resource estimate can be announced during
the month of June. The resource estimate will also include assays
from the current Phase II drilling campaign received as at May
24th, 2014.
ON BEHALF OF THE BOARD,
Robert F. Giustra, Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This release contains forward-looking information and
statements, as defined by law including without limitation Canadian
securities laws and the "safe harbor" provisions of the US Private
Securities Litigation Reform Act of 1995 ("forward-looking
statements"), respecting a new resource estimate being completed by
Coffey, and that the new resource estimate will be completed in
June 2014. Forward-looking statements involve risks, uncertainties
and other factors that may cause actual results to be materially
different from those expressed or implied by the forward-looking
statements, including without limitation: whether a new resource
estimate will be completed by Coffey, and whether the new resource
estimate will be completed in June 2014; cost increases;
availability of qualified workers and drill equipment; risks
associated with exploration projects, mineral reserve and resource
estimates (including the risk of assumption and methodology
errors); dependence on third parties for services; non-performance
by contractual counterparties; title risks; and general business
and economic conditions. Forward-looking statements are based on a
number of assumptions that may prove to be incorrect, including
without limitation assumptions: that the comments provided by SRK
and MDA are accurate and that a new resource estimate will be able
to be provided within the target timeframe or at all. Although
Columbus Gold has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Columbus Gold undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change except as required
by applicable law. The reader is cautioned not to place undue
reliance on forward-looking statements.
Columbus Gold CorporationInvestor Relations604-634-0970 or
1-888-818-1364info@columbusgroup.comwww.columbusgroup.com