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drbubb

Columbus Gold: new IPO in Canada

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Vancouver, British Columbia, Canada. January 18, 2007. Columbus Gold

Corporation (CGT: TSXV) ("Columbus Gold" or the "Company") is pleased

to announce the results of a reverse circulation drilling program at

its Dutch Flat Property in Nevada, where Piedmont Mining Company, Inc.,

is earning an initial 51% interest by funding US$2 million in

exploration expenditures.

 

Seventeen shallow angle holes, totaling approximately 685 metres (m)

(2,550 feet), were drilled in an east-west fence extending

approximately 388 m (1,275 feet) across part of a previously drilled

zone on the property with the objective of confirming the drilling

results obtained by AMAX Gold in the late 1980s. Gold grades of 0.34

grams per tonne (g/t) (0.01 ounces per ton (opt) gold or better were

intersected in 11 of the 17 holes over intervals ranging from 1.5 m to

12.2 m (5 to 40 feet). A nugget effect was observed in 4 of the holes.

The two best holes encountered 7.62 m (25 feet) of 0.45 g/t (0.013 opt)

gold, including 1.5 m (5 feet) of 1.10 g/t (0.032 opt) gold, and 3 m

(10 feet) of 1.86 g/t (0.055 opt), including 1.5 m (5 feet) of 3.50 g/t

(0.102 opt) gold. These intercepts were all encountered within

approximately 30 m (100 feet) of the surface.

 

The latest drilling results are consistent with previous results

obtained by AMAX. Accordingly, a second drill program is currently

being planned with the objective of extending the known mineralized

zone to the west and also to test some of the zones with quartz veining

and significant old workings to the south. Drilling to depths of 90 m

-- 122 m (300 to 400 feet) is expected to test for vertical continuity.

 

 

Didnt look particularly good but still up another 3% yesterday

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I agree- nothing too special in those results

 

something else must be driving the stock

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