CB Gold Inc. Intercepts 6.10m at 11.6 g/t Au at the Vetas Gold Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/25/13 -- CB Gold Inc. (TSX VENTURE: CBJ) ("CB Gold" or the "Company") is pleased to provide summary drilling results from its Vetas Gold Project, District of Santander, Colombia ("Vetas Gold Project"), located 10 km south of AUX's La Bodega, La Mascota and El Gigante deposits. Results from 8 holes include 5 separate intercepts of 5 g/t AuEq or greater.
Real Minera Sheeted Vein Zone Drilling
The Company has received assays from holes 147, 149, 154 and 156, drilled from Platform 22, located 180m north of Platform 20 and hole 158 drilled from Platform 26, located 60m south of Platform 20. These latest holes have intercepted wider zones of mineralization in the sheeted vein structures, including 14.69m at 1.66 g/t Au and 13.02 g/t Ag (RM-DDH13-147) and 6.10m at 11.6 g/t Au (RM-DDH13-156). These results are consistent with the wide zones of mineralization intersected in the upper sheeted vein system in other drill holes from Platforms 22 and 26, and also in drill holes from Platforms 17 and 21.
Real Minera:
----------------------------------------------------------------------------
HoleID From (m) To (m) Length (m) Au (g/t) Ag (g/t) AuEq (g/t)
----------------------------------------------------------------------------
RM-DDH13-147 170.68 173.48 2.80 2.68 3.61 2.74
and 255.02 258.55 3.53 1.56 3.44 1.62
and 283.33 298.02 14.69 1.66 13.02 1.89
RM-DDH13-149 264.67 268.74 4.07 0.68 1.83 0.71
RM-DDH13-154 117.34 118.51 1.17 2.87 84.50 4.35
and 152.40 161.54 9.14 0.92 2.00 0.96
RM-DDH13-156 75.40 76.85 1.45 16.39 3.20 16.45
and 92.40 100.90 8.50 0.75 1.58 0.78
and 144.15 145.30 1.15 2.51 3.30 2.57
and 213.84 214.88 1.04 1.43 4.40 1.51
and 266.60 272.70 6.10 11.60 1.46 11.63
including 271.52 272.70 1.18 57.10 4.80 57.18
and 295.90 305.70 9.80 0.58 0.94 0.60
and 592.60 595.05 2.45 1.09 10.24 1.27
RM-DDH13-158 76.40 88.55 12.15 2.08 1.10 2.10
including 76.40 77.22 0.82 27.63 5.50 27.73
and 110.52 111.58 1.06 3.98 8.50 4.13
and 162.70 164.16 1.46 1.51 28.50 2.01
and 257.50 265.40 7.90 1.84 5.60 1.94
including 257.50 258.50 1.00 11.61 14.20 11.86
and 307.61 308.25 0.64 9.80 14.60 10.06
All Intervals are reported as drilled thicknesses and are believed to be
between 70-100% of the true widths of the mineralization. AuEq in this table
and the subsequent tables was calculated using the 12 month trailing average
for Au and Ag through March 1, 2011 (US$1268/oz Au and US$22.28/oz Ag).
Using ratio of US$Au:US$Ag (56.9), assuming 100% recovery of both metals and
no NSR the AuEq formula is: AuEq = Au g/t + (Ag g/t / 56.9).
El Dorado-Santa Isabel Vein System Drill Results
Results from holes 148, 151 and 155 from the southern end of the El Dorado property confirm the continuity of the structures predicted by the existing 3D model developed in conjunction with SRK. The three reported drill holes are from an area interpreted to be the extension of the El Dorado structures and the intercept in hole ED-DDH13-155 is interpreted as the extension at depth of the mineralised surface structures being located to the South of La Triada Property. This is the first intercept of this structure at depth showing gold anomalous values and warrants follow up exploration in future drilling, as the extension of this structure south of the known high grade veins has potential to add significantly to the scope of the Vetas Gold Project.
The El Dorado vein system has now been drill defined over 1,000 metres and has the potential to extend a further 700 metres to the southwest and 300 metres to the northwest.
----------------------------------------------------------------------------
HoleID From (m) To (m) Length (m) Au (g/t) Ag (g/t) AuEq (g/t)
----------------------------------------------------------------------------
ED-DDH13-148 195.07 196.56 1.49 n.a. 55.00 0.97
ED-DDH13-151 482.60 484.16 1.56 n.a. 63.80 1.12
ED-DDH13-155 564.30 579.84 15.54 0.34 0.42 0.35
Results from hole ED-DDH13-153 did not return significant intercepts. Further details of the drillholes mentioned in the news release can be found at www.cbgoldinc.com.
Fabio Capponi, CEO of CB Gold commented, "We are very pleased to see how the drilling programme continues to confirm continuity and high grades and are also excited about the new discoveries at depth in the El Dorado system and interpretation of future potential targets. It is worth stressing that only three targets distributed on five out of the ten properties forming the Vetas Gold project have so far been tested."
2013 Exploration Program Update
CB Gold is planning a program of rock saw surface trenching at Real Minera. The data will be used to add surface data to the drill hole data for the upcoming resource calculation. All surface trenching will be done with full QA/QC protocols. The company is also currently undertaking a detailed surface structural and alteration mapping program at Real Minera to aid SRK's modelling.
Vetas Gold Project - Geochemistry:
All the samples taken by CB Gold at its Vetas Gold Project were prepared by ACME Labs in Medellin, Colombia and analyzed by ACME Labs in Vancouver, Canada. The Company has a standard QA/QC program, which includes regular insertion of blank material, certified reference material and duplicate samples. All reported gold values were determined from coarse and fine (+/- 200 mesh) metallic screen fractions of a 1 kg sample, using 50 g fire assay charges from each fraction, followed by an AA finish, or gravimetric finish for samples grading higher than 10 g/t Au. Silver grades were determined by dissolution of a 30 g sample in aqua regia with an ICP-MS finish. The QA/QC program has been reviewed by various independent consultants experienced in QA/QC work.
The scientific and technical information on which this news release has been based was reviewed and approved by Marius Mare, Vice President Exploration and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About CB Gold Inc.:
CB Gold is a mineral exploration company headquartered in Vancouver, British Columbia. CB Gold, through its wholly-owned subsidiary, Leyhat Colombia Sucursal, is actively pursuing the exploration and development of mineral properties in the Republic of Colombia. The Vetas Gold Project consists of a number of existing mines (operations currently suspended) and exploration concessions, and its exploration and development activities are not affected by the proposed Regional Natural Park Paramo de Santurban.
For more information on CB Gold please visit our web site at www.cbgoldinc.com.
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 or accuracy of this news release.
The securities of CB Gold described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Contacts:
CB Gold Inc.
+1 (604) 630-5870
info@cbgoldinc.com
www.cbgoldinc.com
