Columbus Gold Corporation (TSX VENTURE:CGT) has announced that a drilling program is planned to commence in the first half of this year on its Summit gold project where immediately to the south, Fronteer Gold Inc., has updated the gold resource estimate at its Long Canyon project to 1.4 million oz. measured & indicated (18.4M tonnes at 2.36 g/t) and 800,000 oz. inferred (11.2M tonnes at 2.24 g/t).
Drilling by Fronteer at Long Canyon is now only approximately 1,500 feet (457 meters) away from Columbus Gold's Summit property boundary.
Columbus Gold's joint-venture partner, Agnico-Eagle Mines Limited ("Agnico-Eagle"), is planning to commence a drilling program at Summit in the first half of 2011 consisting of approximately 6,500 feet (1,980 meters) of drilling.
Agnico-Eagle can earn an initial 51% interest in Summit by completing $3 million in exploration expenditures.
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical contents of this news release. Mr. Wallace is a VP of Columbus Gold's wholly-owned US operating subsidiary, Columbus Gold (U.S.) Corporation and is the principal of Cordilleran Exploration Company ("Cordex"), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.
Source: Columbus Gold Corporation