Continental Gold Completes Feasibility Study for Buritica Project in Antioquia, Colombia
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Continental Gold Inc. has completed an independent feasibility study (FS) for its 100 percent-owned Buriticá project in Antioquia, Colombia.
The FS indicates that the Buriticá project will be host to an economically robust, high-grade underground gold mine. The FS indicates a 14-year mine life that will produce 3,492,000 ounces of recovered gold and 6,425,000 ounces of recovered silver. The estimated project capital cost, including contingency, is $389.2 million.
“The feasibility study confirms that the Buriticá project offers immediate development potential and would be among one of the lowest cost precious metal mines in the world. The construction phase of the mine would employ over 1,200 people at peak activity (approximately 900 during operations), and would be the largest single gold mine in Colombia once production commences. With support from our employees, the Buriticá community and local, departmental and national governments of Colombia, we look forward to building Latin America’s next great high-grade gold mine. Initial production is scheduled to commence from the mineral reserves of only two deposits. With existing large Inferred mineral resources already in place and mineralization open in most directions, not only do these deposits offer significant future growth, but exploration has outlined four other large vein system targets within five kilometers that are drill ready,” said Ari Sussman, chief executive officer of Continental.
“The feasibility study results are compelling and present an opportunity to build a large, safe and modern mine using conventional technology. Not only do the results confirm our expectations, but they also increase our confidence in assertively moving forward with the Buriticá project,” said Donald Gray, chief operating officer of Continental.
To read more details in the company’s press release, CLICK HERE
About Continental Gold
Continental Gold Inc. is an advanced-stage exploration and development company with an extensive portfolio of 100 percent-owned gold projects in Colombia. Formed in April 2007, the company — led by an international management team with a successful track record of discovering and developing large high-grade gold deposits in Latin America — is focused on advancing its high-grade Buriticá gold project to production.
To stop by Continental Gold’s website, CLICK HERE
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