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Last C$2.21 CAD
Change Today +0.01 / 0.45%
Volume 500.3K
CNL On Other Exchanges
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As of 4:00 PM 05/1/15 All times are local (Market data is delayed by at least 15 minutes).

continental gold ltd (CNL) Snapshot

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05/14/14 - C$4.36
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10/31/14 - C$1.61
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continental gold ltd (CNL) Details

Continental Gold Limited engages in the acquisition, exploration, evaluation, and development of gold resource properties in Colombia. The company holds the rights to explore and develop 4 properties in Colombia covering approximately 168,817 hectares. Its flagship project includes the Buriticá project covering an area of 59,285 hectares located to the northwest of Medellín in the Antioquia Department of north-western Colombia. The company was founded in 2007 and is based in Toronto, Canada.

400 Employees
Last Reported Date: 03/6/15
Founded in 2007

continental gold ltd (CNL) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $470.1K
Chief Financial Officer
Total Annual Compensation: $282.1K
Executive Vice President, Director and Member...
Total Annual Compensation: $250.3K
Vice President of Exploration
Total Annual Compensation: $248.0K
Compensation as of Fiscal Year 2013.

continental gold ltd (CNL) Key Developments

Continental Gold Limited Announces Results for 15 Diamond Drill-Holes at its Buriticá Project in Antioquia, Colombia

Continental Gold Limited announced results for 15 diamond drill-holes through the eastern Veta Sur vein system at the company's 100%-owned Buriticá project in Antioquia, Colombia. Drilling was successful in infilling sections of the eastern Veta Sur vein system, covering more than 200 metres of lateral strike by 700 metres of vertical extent. Additionally, some drill-holes continued north past the Veta Sur vein system and infilled sections of the western portion of the Yaraguá vein system covering more than 300 metres of lateral strike by 300 metres of vertical extent. Step-out drilling extended the eastern Veta Sur system below and to the south of the current mineral resource envelope. Infill drill-holes encountered multiple vein families with grades X thicknesses that are substantially greater than those expected from the current mineral resource block model for Veta Sur. Broad and/or high-grade intercepts in related Veta Sur master veins include: 7.1 metres @ 19.9 g/t gold and 64 g/t silver, including 1.95 metres @ 51.5 g/t gold and 84 g/t silver (BUUY288D01, V26, elevation of 1,067 metres); 0.5 metres @ 67.4 g/t gold and 17 g/t silver (BUUY288D01, V24, elevation of 1,050 metres); 9.96 metres @ 15.4 g/t gold and 61 g/t silver, including 1.16 metres @ 52.1 g/t gold and 235 g/t silver (BUUY288D02, V30, elevation of 1,066 metres); 4.33 metres @ 40.4 g/t gold and 20 g/t silver, including 1.08 metres @ 150.8 g/t gold and 59 g/t silver (BUUY288D03, V30, elevation of 1,173 metres); 6.08 metres @ 97 g/t gold and 17 g/t silver, including 1.65 metres @ 352.2 g/t gold and 47 g/t silver (BUUY288D04, V30, elevation of 1,133 metres); 2.13 metres @ 49.2 g/t gold and 9 g/t silver (BUUY288D04, V24, elevation of 1,106 metres); 8.35 metres @ 13.1 g/t gold and 42 g/t silver, including 1.0 metres @ 50.9 g/t gold and 82 g/t silver (BUUY288D06, V24, elevation of 1,001 metres); 1.15 metres @ 43.1 g/t gold and 14 g/t silver (BUUY288D07, V30, elevation of 1,115 metres); and 2.4 metres @ 1.5 g/t gold and 1,303 g/t silver (BUUY298, V62, elevation of 1,398 metres). These and other intercepts in the 1,000 to 1,400-metre range of elevations confirm the continuity of, and extend high grade sub-domains within, the northern packages of veins in eastern Veta Sur, contributing to increased confidence levels of high-grade gold and silver mineral resources in this area. Drill-holes that penetrated to the north of Veta Sur into the western Yaraguá vein system encountered multiple vein families with grades X thicknesses that are substantially greater than those expected from the current mineral resource block model for Yaraguá. Broad and/or higher-grade intercepts in related master veins include: 1.01 metres @ 7.7 g/t gold and 192 g/t silver (BUUY288D05, VNB, elevation of 1,161 metres); 6.9 metres @ 10.4 g/t gold and 15 g/t silver, including 1.1 metres @ 39.9 g/t gold and 32 g/t silver (BUUY288D07, MU1, elevation of 1,093 metres); and 0.8 metres @ 13.9 g/t gold and 7 g/t silver (BUUY298, MU11, elevation of 1,505 metres). Step-out drilling also intersected multiple veins outside of the current Veta Sur and Yaraguá mineral resource envelopes. Key intercepts, below or to the south of Veta Sur, include: 1.25 metres @ 0.1 g/t gold and 392 g/t silver (BUUY288D, elevation of 1,539 metres); 0.65 metres @ 7.8 g/t gold and 146 g/t silver (BUUY288D03, elevation of 1,403 metres); 1.72 metres @ 24.4 g/t gold and 35 g/t silver (BUSY368D02, elevation of 1,345 metres); and 0.5 metres @ 15.6 g/t gold and 24 g/t silver (BUUY368D03, elevation of 1,321 metres).

Continental Gold Limited Announces Executive Changes

Continental Gold Limited announced the appointment of Leon Teicher as Executive Chairman of the Company. Mr. Teicher joined the Continental Board in April 2013 and has served as non-executive Chairman since April 2014. He was formerly President and Chief Executive Officer of Cerrejón Coal Ltd. The company also announced the appointment of Guillermo Salgado as Vice-President, Environment, of the Company. Ari Sussman, CEO, will also assume the title of President of the Company. Mr. Salgado is a seasoned executive with over 10 years of environmental experience in Colombia, and has been Environmental Manager of the Company since November 2014. He was previously Environmental and Community Manager for Colombian Natural Resources S.A.S. (“CNR”) (a Goldman Sachs company) where he was responsible for overall environmental compliance for the Sociedad Portuaria Rio Cordoba, El Hatillo, La Francia and Cerro Largo mines.

Continental Gold Limited Reports Production Updates for the Year Ended December 31, 2014 for Buritica Project in Antioquia, Colombia

Continental Gold Limited reported production Updates for the year ended December 31, 2014 for the Buritica project in Antioquia, Colombia. Exploration activities during the year consisted of topographic and geological mapping, geochemical soil surveys and other surface sampling, underground mapping and channel sampling and diamond drilling at the Yaragua, Veta Sur and Laurel vein systems. Underground drilling from the three access tunnels also commenced during the year with the goal of converting inferred ounces into the measured and indicated categories, as well as growing the overall mineral resource. Drilling extended several vein sets and identified new veins outside of the current mineral resource. Drill results in the Yaragua vein system included: BUUY191, which intersected 36.48 metres @ 9.4 g/t gold and 43 g/t silver, including 1.8 metres @ 34.8 g/t gold and 61 g/t silver plus 2.6 metres @ 36.3 g/t gold and 47 g/t silver; BUUY171, which intersected 1.35 metres @ 142.9 g/t gold and 15 g/t silver; BUUY210, which intersected 6.9 metres @ 97.8 g/t gold and 238 g/t silver; BUUY226, which intersected 2.1 metres @ 100.7 g/t gold and 53 g/t silver; BUUY232, which intersected 2.15 metres @ 161.2 g/t gold and 14 g/t silver; BUUY222, which intersected 1.35 metres @ 190.5 g/t gold and 95 g/t silver; and BUUY253, which intersected 3.95 metres @ 50.2 g/t gold and 26 g/t silver. Drill results in the Veta Sur vein system included: BUSY355, which intersected 0.7 metres @ 26.8 g/t gold and 118 g/t silver and 0.5 metres @ 44.2 g/t gold and 23 g/t silver; BUUY194, which intersected 4.15 metres @ 21.7 g/t gold and 19 g/t silver, including 0.5 metres @ 158.5 g/t gold and 62 g/t silver; BUUY202, which intersected 9.85 metres @ 34.4 g/t gold and 111 g/t silver, including 1.13 metres @ 110.7 g/t gold and 236 g/t silver plus 1.0 metres @ 91.3 g/t gold and 261 g/t silver; BUSY363, which intersected 4.0 metres @ 218.7 g/t gold and 25 g/t silver; BUUY270, which intersected 2.2 metres @ 2,615.4 g/t gold and 388 g/t silver; BUUY208, which intersected 7.45 metres @ 40 g/t gold and 170 g/t silver, including 2.85 metres @ 99.8 g/t gold and 406 g/t silver; and BUUY280, which intersected 1.05 metres @ 695.3 g/t gold and 140 g/t silver. Drill results in the Laurel vein system included: BUSY361D01, which intersected 8.3 metres @ 6.1 g/t gold and 23 g/t silver, including 1.2 metres @ 24 g/t gold and 36 g/t silver; and BUUY258, which intersected 1.45 metres @ 84 g/t gold and 7 g/t silver. Channel sampling in the new Yaragua ramp extended high grades in the Murcielagos South vein family to higher elevations (1,520 metres), with significant intervals including 0.5 metres @ 24.7 g/t gold, 215 g/t silver and 8.4% zinc and 1.0 metre @ 10.9 g/t gold, 90 g/t silver and 3.7% zinc. The company also initiated a cross-cutting program in both the Veta Sur and Yaragua vein systems with the aim of determining the appropriate precious metal grades for calculating dilution between certain veins in future economic studies. Results were encouraging, including a laterally continuous, very high-grade zone comprising 3.15 metres (true horizontal width) @ 59.7 g/t gold and 139 g/t silver along 85 metres in the Veta Sur vein system. The company completed underground development of the access tunnels in the Higabra Valley and the Veta Sur and Yaragua Ramps, meeting the initial goal of utilizing these access tunnels to drill underground. The company announced the signing of formalization sub-contracts with eight small-scale mining associations in 2014, paving the way for the implementation of legal and responsible small-scale mining operations at the Buritica project. Pre-development activities began at the respective sites shortly thereafter. During the year, the company continued to work with Corantioquia, the autonomous regional corporation responsible for issuing and controlling environmental permits in Antioquia, to complete the modification process for the EIA (submitted on December 23, 2013), which represents the final major permitting step for the Buritica project.


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