Drilling Commences on Columbus Gold's Chert Cliff Property
Vancouver, British Columbia, Canada. July 08, 2008. Columbus Gold Corporation (CGT: TSX-V) (“Columbus Gold” or the “Company”) is pleased to announce that Platte River Gold Inc., has commenced drilling on the Company’s Chert Cliff Property, located in the Gold Bar District along the prolific Battle Mountain Gold Trend about 40 miles (65 km) northwest of Eureka, Nevada. The Chert Cliff Property has been leased to privately held Platte River Gold and forms part of their Gable Property.
As reported by Platte River Gold, the drill program includes four Reverse Circulation (RC) drill holes for a combined planned depth of 4,100ft (1250 m) with target depths between 450 ft (140 m) and 1,500 ft (450 m) for each hole.
Gold was discovered at Chert Cliff in the mid 1960’s during the initial wave of prospecting for carbonate-hosted gold deposits following recognition of the Carlin model in 1961. During the 1980’s Asarco succeeded in outlining the Chert Cliff gold deposit containing a historic resource of approximately 1.4 million tons grading 0.04 ounces gold per ton (56,000 ounces). This historic resource is not NI 43-101 compliant and a qualified person has not done sufficient work to classify these historic estimates as a current mineral resource. They should not be relied upon and Columbus Gold does not treat them as current mineral resources.
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical contents of this news release. Mr. Wallace is a partner of Cordilleran Exploration Company (“Cordex”), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.
ABOUT COLUMBUS GOLD
Columbus Gold Corporation is a gold exploration and development Company operating principally in Nevada. The Company has an experienced management group with a strong background in all aspects of the acquisition, exploration, development and financing of precious metal mining projects. Columbus controls a 100% interest, subject to royalties, in 25 gold projects strategically located along or near Nevada’s most productive gold trends and 6 silver and copper projects located in Arizona and Utah. The Company’s project activities are managed by Cordilleran Exploration Company (“Cordex”), owned and operated by John Livermore and Andy Wallace who have a long and successful history of gold discovery and mine development in Nevada.
The Company maintains active generative (prospecting) and evaluation programs and, as a key element of strategy, broadens exposure, minimizes risk and maintains focus on high priority prospects while seeking industry finance through joint ventures on selected projects. The Company currently has 14 of its projects joint ventured to major and junior mining companies.
ON BEHALF OF THE BOARD,
Robert F. Giustra
President & CEO, Director
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