VANCOUVER — Columbus Gold
(TSX: CGT; US-OTC: CBGDF) had a busy to start to the year courtesy of a recently-released resource update at its Eastside gold project in Nevada and a pending feasibility study (FS) at its Montagne d’Or joint venture in French Guiana. The company has ounces in the ground, and it recently announced a pair of exploration programs geared toward near-deposit discovery and resource expansion.
Columbus has advanced Montagne d’Or at a breakneck pace after entering into an option agreement with Nordgold
(LON: NORD) in late 2013. The Russian miner is set to earn a 55.01% interest in the project by completing the FS after spending US$30 million in working expenditures over the past three years. Montagne d’Or is part of the 190-sq.-km Paul Isnard project, which is comprised of eight mining concessions roughly 180 km west of the capital, Cayenne.
“When we entered into the agreement with Nordgold we instituted a very short window in terms of timing for the resource estimates and economic studies,” comments chairman and CEO Robert Giustra during an interview.
Read the entire story at The Northern Miner