Continental Gold (TSX:CNL, Stock Forum) shares rose 4% to $3.22 after the company released results today from 27 diamond drill-holes from the Yaragua vein system at its wholly-owned Buritica project located in Antioquia, Colombia.
Continental is a Toronto-based exploration and development firm engaged in the acquisition, exploration, evaluation and development of Colombian gold resource properties,
According to the news release, nine of the 27 holes extended the vein system, which remains open to the north, south, west and depth.
Highlights from the assay results included 97.8 g/t gold and 238 g/t silver over 6.9 metres at BUUY210, CNT, 100.7 g/t gold and 53 g/t silver over 2.1 metres at BUUY226, FWV, 39.2 g/t gold and 27 g/t silver over 1.15 metres at BUUY254, CNT, and 34.4 g/t gold and 810 g/t silver over 0.5 metres at BUUY259, MU11.
Company CEO, Ari Sussman, commented, “I am most pleased that our 60,000-metre drill program for 2014 is yielding robust precious metal intercepts that for the most part, either correlate well to - or are better than - the related grades projected in specific areas of our latest mineral resource estimate.”
Continental Gold was in the news recently when the company provided a corporate and development update for Buritica five days ago.
Currently there are 126.7m outstanding shares with a market cap of $397.9 million.