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CSG: TSX-V
VANCOUVER, Jan. 27, 2014 /CNW/ - Cosigo Resources Ltd.
(TSX-V: CSG) today announced the receipt of assay results from
fifteen reverse-circulation drill holes on its Machado project in
southeastern Colombia.
Highlight intercepts include:
- 17.19 g/t Au over 3.04m from 68.58m down hole depth in drill
hole13MR007, which ended in mineralization
- 2.53 g/t Au over 13.72m from 9.14m down hole depth in drill
hole13MR018, which successfully intersected metasedimentary strata
historically targeted by artisanal gold producers
- 8.32 g/t Au over 1.52m from 44.19m down hole depth in drill
hole 13MR011
"Machado is a 35 km long ridge and part of a
district-scale metasedimentary system. We are very encouraged by
the results to date, which indicate that the Machado property is
underlain by several zones of stratabound gold mineralization."
stated Dennis Milburn, President and
CEO of Cosigo.
Assay results have now been had for 17 of the 20
drill holes drilled by Cosigo on the Machado project in 2013.
Results for the remaining three drill holes are expected
shortly.
Table 1. Machado screen fire assay results
Drill Hole |
From (m) |
To (m) |
Width (m)* |
Au (g/t) |
13MR003 |
32.00 |
35.04 |
3.04 |
1.08 |
13MR004 |
62.48 |
64.00 |
1.52 |
1.56 |
13MR005 |
57.91 |
64.00 |
6.09 |
1.76 |
13MR007 |
18.29 |
21.34 |
3.04 |
2.18 |
and |
68.58 |
71.62 |
3.04 |
17.19 |
13MR008 |
73.15 |
88.39 |
15.24 |
0.50 |
13MR009 |
50.29 |
51.81 |
1.52 |
0.66 |
13MR011 |
42.67 |
45.71 |
3.04 |
4.44 |
incl. |
44.19 |
45.71 |
1.52 |
8.32 |
13MR012 |
3.04 |
4.56 |
1.52 |
1.14 |
and |
48.77 |
50.29 |
1.52 |
1.11 |
13MR013 |
No significant
values |
13MR014 |
No significant
values |
13MR015 |
No significant
values |
13MR016 |
0.00 |
1.52 |
1.52 |
0.74 |
13MR017 |
0.00 |
3.04 |
3.04 |
1.08 |
Drill Hole |
From (m) |
To (m) |
Width (m)* |
Au (g/t) |
13MR018 |
0.00 |
3.04 |
3.04 |
1.70 |
and |
9.14 |
22.86 |
13.72 |
2.53 |
incl. |
15.24 |
16.76 |
1.52 |
18.50 |
13MR019 |
27.43 |
28.95 |
1.52 |
1.26 |
*Interval widths are down-hole. True widths are
yet to be determined
Complete results with maps and sections of the
drill holes will be available within the next few days on the
Cosigo website (www.cosigo.com).
In addition to gold fire assays, multi-element
analysis was carried out on Cosigo's drill samples. The gold and
multi-element data, as well as geological information from the
drill holes, will be interpreted by Cosigo's technical team in
order to guide the Company's exploration efforts.
QA / QC
Cosigo's disclosure of a technical or scientific nature in this
press release has been reviewed and approved by Dr. Joseph H. Montgomery, P.Eng., Executive Vice
President of Cosigo Resources Ltd., who serves as a Qualified
Person as defined in National Instrument 43-101. Cosigo's quality
assurance and quality control procedures include the systematic
insertion of blanks and standards into the drill-sample string.
Drill chip samples were split and placed in sealed containers prior
to shipping to the ALS Minerals laboratory in North Vancouver for gold screen fire assay and
multi-element analysis.
About Cosigo Resources:
Cosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company with mineral interests
in properties in Brazil,
Colombia and Canada. Cosigo has assembled a strong team,
well experienced in the exploration and mining-finance industries.
The Company's main focus is in the Taraira Gold Belt, which
straddles the border between northwestern Brazil and southeastern Colombia. In Brazil, geological mapping has identified more
than 250 km2 of prospective geology and sampling has
identified gold-bearing strata over long strike-lengths in several
locations. Cosigo's ongoing work in the Taraira Gold Belt 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 news release.
SOURCE Cosigo Resources Ltd.