Cosigo Resources Ltd. - Machado Project Update
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DISSEMINATION IN THE UNITED STATES/
CSG: TSX-V
VANCOUVER, April 15, 2013 /CNW/ - Cosigo Resources Ltd. (TSX-V: CSG)
today provided the following update on its Machado Project in
south-eastern Colombia.
Cosigo has been notified by the Colombian Ministry of Environment that a
forestry reserve subtraction (the "Subtraction") has been granted to
the Company. The granting of the Subtraction will allow Cosigo to
mobilize for an initial drilling program on the 9,973 hectare Machado
Project.
The Subtraction is subject to a number of conditions, which will impact
Cosigo's upcoming exploration program. These include restricting
drilling operations to an area of 45.6 hectares. The limited size of
the subtracted area will allow for initial, albeit only partial,
exploration of the several mineralized zones identified at Machado.
Furthermore, the Subtraction allows for a total of 42 drill holes and
is restricted to a duration of three months following the day the
forestry reserve subtraction is published in the official publication
of the Colombian government. Cosigo expects this to happen within the
next 10 days.
"Despite the strict conditions attached to our initial forestry reserve
subtraction, this marks a very significant milestone for the Machado
Project." stated Dennis W. Milburn, President and CEO of the Company. "Our Colombian team is eager to get our exploration program started and we
will immediately proceed with an application to extend the duration and
scope of the subtraction."
Remote locations such as Machado often require a mobilization period of
one to two months prior to the commencement of a drilling program.
Fortunately, Cosigo has moved most of the equipment necessary for
drilling to Colombia during the last couple of years. Cosigo has
sufficient funding to complete its initial drilling program in an
environmentally sustainable manner and on a geologically appropriate
and logical basis.
About Cosigo Resources:
Cosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company
exploring for gold deposits in Colombia and Brazil. Cosigo has
assembled a strong team, well experienced in South America and in the
exploration and mining-finance industries. The Company's flagship
project is its 100% owned Machado Project in the Taraira Gold Belt of
southeastern Colombia where geological mapping and geochemical sampling
have identified potentially gold-bearing strata over a strike-length of
more than 20 km. Cosigo's ongoing work on the 9,973 hectare Machado
Project is the first modern exploration program in an area known to
have hosted more than 100 historic gold mining operations.
On behalf of the Board of Directors
Cosigo Resources Ltd.
/s/"Dennis Milburn"
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy of this release.
SOURCE: Cosigo Resources Ltd.
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Cosigo Resources Ltd.
Dennis Milburn, President & CEO
Tel: 877-866-8688 (North America)
1-604-515-5970 (International)
www.cosigo.com