Wednesday, 25th June 2008 (464 views)

Phase one of a drilling programme at the Awakening gold project in Nevada has begun.

Columbus Gold Corporation said 24 drill site are permitted and up to 7,200 feet of drilling will occur across ten to 12 holes.

Between 1914 and 1963 the Awakening District produced 26,262 ounces of gold.

Exploration at the site was completed over six holes in January this year.

Results from the survey include 1.68 g/t of gold across 16.8 metres, 24.1 g/t of gold across 1.5 metres and 2.44 g/t of gold across 1.5 metres.

In April this year, Columbus Gold Corporation signed a lease agreement for 21 mines with Dean and Camron Stitzel regarding the Awakening site. Advance royalties of $50,000 and 76,037 shares of Columbus Gold Corporation were given immediately.

To gain 100 per cent ownership of the mine, the company also signed a lease agreement with the Bald Mountain Mining company in June for $10,000 and 25,000 shares.

Columbus Gold Corporation operates mainly in Nevada and owns 26 precious metal projects subject to royalties.

 

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