Continental Gold employee shot dead in Colombia

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Continental Gold’s Buritica gold project in Colombia. Source: Continental Gold Inc.

Continental Gold Inc. [CNL-TSX; CGOF-OTCQX] said Thursday September 6 that a mining engineer was fatally wounded after being attacked by armed individuals in the Colombian town of Buritica, where the company’s Buritica gold project is located. Another engineer is currently being treated and is in stable condition, the company said.

Continental said it has offered its sincere condolences and support to the families of the victims and is fully co-operating with authorities. “Support from the Buritica municipalities and community members, the Government of Antioquia and the Colombian National Government has been overwhelming and is truly appreciated,” the company said.

According to a report by Reuters news service, an unnamed source from the police said the attack did not immediately appear to be connected with crime gangs or insurgents. The employees were shot at while traveling in a vehicle near the town in Antioquia province, the source told Reuters.

A 19.9%-owned affiliate of Newmont Mining Corp. [NEM-NYSE], Continental Gold is an advanced-stage exploration and development company with an extensive portfolio of wholly-owned gold projects in Colombia.

The 75,023-hectare Buritica property is Continental’s flagship asset. It contains several known areas of high-grade gold and silver mineralization, of base metal carbonate-style variably overprinted by texturally and chemically distinctive high-grade mineralization.

The two most extensively explored of these areas (the Yaragua and Veta Sur systems) are central to this landscape. The Yaragua system has been drill outlined along 1,100 metres of strike and 1,700 vertical metres and partially sampled in underground developments.

The Veta Sur system has been drill outlined over 1,000 metres of strike and 1,800 vertical metres. It too has been partially sampled in underground developments. Both systems are characterized by multiple, steeply-dipping veins and broader, more disseminated mineralization, and both remain open at depth and along strike at high grades.

The company recently said it has 14 diamond drill rigs in operation, focusing on increasing and upgrading the mineral resources to higher classification categories by testing for high-grade and broad mineralized zones within the mineral reserve and resource envelopes and testing high-impact targets along strike and below existing mineral resources, as well as grassroots targets proximal to existing and proposed infrastructure.

Mineral reserves on the property currently stand at 3.7 million ounces of gold, grading 8.4 g/t. Production is scheduled to commence in early 2020, the company has said.

On August 20, 2018, Continental released additional drill results from Veta Sur, including a highlight of 4.7 m, grading 161 g/t gold and 31 g/t silver.  The company said nine drill holes intersected the Veta Sur system over 1,200 vertical metres, validating the sheer scale of the precious metal system by confirming excellent continuity at high grades.

Continental Gold shares eased 2.52% or $0.08 to $3.10 on Thursday. The 52-week range is $4.13 and $2.90.


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Filed in: Gold, Resources

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