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VANCOUVER, July 30, 2013 /CNW/ - Cosigo Resources Ltd. (TSX-V: CSG)
today announced the completion of the field work phase of its first
drilling program on the Machado Project in the Taraira Gold Belt of
south eastern Colombia.
Twenty reverse-circulation drill holes were completed at varying depths
to a maximum of 95 meters.
Dennis Milburn, President of Cosigo, stated, "We are proud of the efforts and dedication of our employees and
contractors, who despite the strict conditions of our Forestry Reserve
Subtraction successfully completed several drill holes through strata
known to have produced gold in the past. Our focus has now shifted to
the laboratory phase of the program and we are looking forward to
receiving assay results over the next few months."
Drilling at Machado was focused in the Cerro Rojo area at the center of
the property. This area hosts numerous tunnels and an open pit mined by
artisanal miners during a gold rush in the 1980's and 90's. The drill
holes, each with a nominal diameter of 90 millimeters, were
continuously sampled in five foot (1.52 meter) intervals. All samples
have been transported off-site for processing and preparation for
assay. The samples will be dried and processed to prepare splits for
gold assay and multi-element analysis. Quality control samples,
including standards and blanks, will be inserted into the sample stream
prior to delivery to the assay laboratory. Duplicate sample material
will be retained and placed in storage. Assay results will be reported
by Cosigo as they become available.
Cosigo has applied for extensions to its Forestry Reserve Subtraction to
allow for additional work. The company is working to ease some of the
initial restrictions placed on it by the Government of Colombia by
showing that its recently completed program has been environmentally
sustainable. In addition, the Machado Project is of great benefit to
the local community of Taraira, which continues to be supportive of
About Cosigo Resources:
Cosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company
exploring for gold deposits in Colombia and Brazil. Cosigo has
assembled a strong team, well experienced in South America and in the
exploration and mining-finance industries. The Company's flagship
project is its 100% owned Machado Project in the Taraira Gold Belt of
southeastern Colombia where geological mapping and geochemical sampling
have identified potentially gold-bearing strata over a strike-length of
more than 20 km. Cosigo's ongoing work on the 9,973 hectare Machado
Project is the first modern exploration program in an area known to
have hosted more than 100 historic gold mining operations.
On behalf of the Board of Directors
Cosigo Resources Ltd.
President & CEO
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 of this release
SOURCE: Cosigo Resources Ltd.
For further information:
Cosigo Resources Ltd.
Dennis Milburn, President & CEO
Tel: 877-866-8688 (North America)