Columbus Gold Corp CGTFF

CGT - Maripa Update

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Columbus Gold Commences 2019 Exploration Program on
Maripa Gold Project, French Guiana

Vancouver, BC, Canada, April 23, 2019. Columbus Gold Corp. (CGT: TSX, CGTFF: OTCQX)  (“Columbus”) is pleased to provide an update on the development of the newly acquired Maripa gold project located in French Guiana, France:

• Columbus entered into an agreement in July 2018 with IAMGOLD Corporation to acquire up to a 70% interest in the Maripa gold project (news release dated August 14, 2018). 
• Historical exploration data in digital format was received from IAMGOLD.  The data was integrated into an ArcGIS project.
• Geological, geochemical and geophysical compilation maps were produced from the dataset to conduct a comprehensive appraisal of past exploration results. 
• Historical drill core was recovered and transported to Columbus’ core shack facilities located at the outskirts of Cayenne.
• A regional 256 km² high-resolution LiDAR topographic survey with orthophoto coverage was completed in September 2018.  The processed survey data will be applied to enhance geological features, such as lithological contacts and structural lineaments, identify subtle topographic feature from past exploration such as trails, drill pads and trenches, and provides a topographic base for exploration, economic assessments, mine planning and development.
• The objective of the 2019 exploration program is two-fold:

·         Conduct a detailed interpretation of the five partially drill-defined gold zones previously identified on the project; and acquire additional regional data for geological interpretation and targeting.

• The ongoing 2019 work program entails:

·         Core relogging and drill hole database validation;
·         Geological mapping and field validation;
·         256 km² airborne geophysical survey at 100-meter line spacing;
·         Processing and merging of 2018 LiDAR topographic and airborne magnetic data;
·         Regional and target specific geological/structural modelling and interpretation; and
·         Infill and step-out drilling program planning.

About Maripa
The Maripa gold project is located in eastern French Guiana along paved national road RN2, some 50 kilometers south of the capital city of Cayenne.  The project is comprised of up to five contiguous exploration permits (PER) that cover an area of approximately 120 square kilometers.  The project area has easy access, which provides simple and low-cost logistics for exploration and development.

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