Columbus Gold Corporation (TSX-Venture:CGT) is a gold exploration and development company with its operations primarily focused in Nevada. The Company has a portfolio that has grown to include a number of properties that rival many of its major competitors.
Led by a team of experienced management personnel with highly relevant backgrounds in every aspect of precious metal mining projects, including exploration, acquisitions, development and financing, Columbus Gold has targeted productive gold trends in Nevada and has been steadily building a formidable portfolio of projects. In addition to the projects in Nevada, the Company also owns one project in Arizona and holds a majority equity interest in Columbus Silver Corporation, which controls a significant silver exploration portfolio.
Columbus has not been haphazard in its acquisitions and stakes. The Company has strategically gained control of properties such as the Summit Project which is positioned along strike and approximately 4,000 feet from the northern end of the Long Canyon gold deposit of AuEx Ventures, Inc. and Fronteer Development Group Inc. where ongoing drilling continues to confirm the presence of high-grade oxide gold mineralization. The Stevens Basin Property is located approximately 10 km (six miles) east of Barrick Gold's (TSX:ABX) Archimedes open pit gold mine. Columbus controls 100% of the project which was acquired by staking new lode mining claims.
Additionally, after gaining control of highly perspective properties in close proximity to prominent gold trends and fully operating mines, Columbus has successfully negotiated deals with many exploration companies where working interests can be earned in the properties controlled by Columbus to further generate capital and expand exploration of the land. In September, the Company announced that it had entered into joint venture agreements with Navaho Gold PTY Ltd., of Australia whereby Navaho can earn into four of Columbus Gold's Nevada gold projects: Whitehorse Flats, Stevens Basin, Utah Clipper and Crestview.
Yesterday, Columbus Gold announced another addition to its expansive portfolio of properties by announcing that it had acquired the Browns Canyon property in Nevada. This brings the Company’s total to 22 projects in Nevada to accompany its Arizona endeavor. Once again targeting a known producing gold mine in the lucrative Battle Mountain Gold Trend, the Browns Canyon property is located 20 km west of Barrick Gold’s Archimedes open pit mine. The Battle Mountain Gold Trend is known to contain over 100 million ounces of gold consisting presently of 24 gold mines.
This property has revealed through sampling many attributes that are characteristics of the Trend. The most recent samplings yielded gold values up to 3 g/t along a zone of silicification, sparsely exposed through cover, with a strike length of 2,000 metres. While most of the mineralized zone is untested, there are seven historic drill holes that are widely spread across the strike zone. Columbus has already begun geologic mapping and additional sampling and has scheduled drilling for the middle of 2011 to confirm speculation of greater reserves being present.
In the ongoing hunt for gold due to continuous price climbs for the precious metal, Columbus Gold has itself well-positioned a multitude of properties in highly perspective areas of the Western United States. With the price per share still trading in the area of $0.22, but climbing off recent lows of $0.145, investors are apparently starting to take notice of the assets being accumulated by the Company in its constant quest to increase company and shareholder value.
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