Twitter Facebook LinkedIn YouTube

Core Gold Inc (TSXV:CGLD) Plans for drilling program at its Copper Duke project in Ecuador

Video Platform Video Management Video Solutions Video Player

The Copper Duke project, located in Catacocha (Paltas) county, Province of Loja, approximately 18 kilometers east of the company’s Dynasty Goldfield mining unit and 40 kilometers south of the company’s Portovelo processing plant, consists of 13 mineral concessions covering a number of gold and copper porphyry occurrences in an area of approximately 100 square kilometres.

Additional Information:

Company: Core Gold Inc
Website: http://www.coregoldinc.com
Stock Symbol: TSXV: CGLD
Date Published: Mar 22, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Core Gold Inc, currently the largest gold producer in Ecuador, announced plans for a Phase 1 exploration drilling program at its 100% owned Copper Duke project.

The company has received the necessary exploration permit from the Ecuadorian Ministry of Mines and is in the process of posting the required environmental bond.

The Copper Duke project, located in Catacocha (Paltas) county, Province of Loja, approximately 18 kilometers east of the company’s Dynasty Goldfield mining unit and 40 kilometers south of the company’s Portovelo processing plant, consists of 13 mineral concessions covering a number of gold and copper porphyry occurrences in an area of approximately 100 square kilometres.

Keith Piggott, CEO, stated: “The issuance of the drilling permit and plans for a Phase 1 exploration drilling program at Copper Duke is a milestone for the Company as it represents the beginning of testing of one of the world’s best undrilled gold-copper porphyry target. When we assumed control of the Company in late 2016 it was always a key objective of our team to drill Copper Duke and we are pleased to be proceeding with that plan. Our entire team is excited by the prospect of drilling this target and we hope to continue the exploration success that Ecuador has seen over the past two years with world-class projects such as Cascabel showing the potential of the country.”

To date, a major copper-gold porphyry complex, El Huato, and an additional four copper porphyry targets (Loma Redonda, Rio Catamayo, Landaluma and Barbasco) and two gold targets have been identified.

The Phase 1 exploration program will focus on El Huato and will seek to test both the project’s gold-copper porphyry potential and quartz gold bearing vein system.

The El Huato copper-gold porphyry system was discovered by a United Nations survey in 1968.

The zone comprises a central gold bearing porphyry and a southern copper-gold bearing porphyry.

There are also significant copper and gold geochemical anomalies to the north of the area.

Core Gold, previously known as Dynasty Metals and Mining, owns 100% of three mining production and/or exploration areas located in Southern Ecuador.

The company is currently focused on the continued development of the Dynasty Goldfield project within the Dynasty District which began mining operations in December 2016, and the Zaruma Gold Mine & Portovelo Mill Project, which began commercial production as of October 1, 2013.

The shares are trading at $0.29.

For more information on the extensive history of previous work on the Copper Duke project and the company’s other projects, please visit the company’s website at www.coregoldinc.com, contact Keith Piggott, CEO, at 604-345-4822 or by email at info@coregoldinc.com

I’m Samantha Deutscher for Investmentpitch Media