Colombia Crest Gold announces exploration and drilling update
Wednesday, Apr 18, 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 17, 2012) - Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX VENTURE:CLB)(PINKSHEETS:ECRTF)(FRANKFURT:EAT) is pleased to provide an update on its Fredonia and Venecia properties in Colombia, South America. Exploration field work continues across the extensive 34,000 hectare land package in search of additional porphyry gold targets to evaluate for drilling. Drilling is underway on the two anomalous gold zones identified as the Arabia 1 and 2 porphyry gold targets.
"We are very excited to be drilling our highest priority targets on the property. Based on my technical background and prior discovery experiences with Kennecott/Rio Tinto in North and South America, both the Arabia porphyry gold targets have the characteristics that indicate potential for multiple large porphyry gold-copper systems," explained Hans Rasmussen, President and CEO of Colombia Crest. "The technical team and I have been involved with several porphyry related gold discoveries and know the geologic, geochemical and geophysical footprint of economic discoveries, characteristics of which the Arabia targets clearly display." (Click to watch Hans Rasmussen's most recent update: http://colombiacrestgold.com/_resources/videos/video-mar-28-12.html#http://colombiacrestgold.com/_resources)
Ongoing Exploration Program
Over the remainder of the "Arabia Porphyry Complex" the Company has recently completed the geochemistry sampling program, which covers a large area surrounding the targets Arabia 1 and Arabia 2 (further described below). The Program was initiated to explore additional concealed mineralized porphyry gold-copper systems existing in the area - potential for a "nest" of mineralized porphyry gold systems. Soil geochemical studies are the most effective first-pass ground tool for this type of system. About 650 soil samples were collected on a grid spaced 100 metres by 100 metres apart, covering approximately 6.5 square kilometres - assays are pending on these samples.
The airborne geophysical survey, announced on March 21, 2011, covering about 40 square kilometres around Arabia is delayed due to weather conditions. A survey outline is approved with a new launch date for mid-May when weather conditions are expected to improve.
Reconnaissance field work continues on the 34,000 hectares (81,600+ acres) of mineral title covering both the Fredonia and Venecia concessions, searching for additional porphyry targets. As described in a news release dated June 1, 2011, over 20 target areas were defined and prioritized through the detailed integration of airborne magnetic and radiometric data, combined with stream sediment sample geochemical data, the interpretation of geologic maps and fault lineament analysis from satellite imagery. While highest priority was given to the Arabia area, additional priority targets remain within the extensive land package.