/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Dec. 20, 2013 /CNW/ - Cosigo Resources Ltd. (TSXV: CSG) today
announced the receipt of assay results from the first two
reverse-circulation drill holes on its Machado project in southeastern
Colombia. A total of 20 holes were drilled during Cosigo's 2013 drill
program. Assay results from the remaining drill holes will be released
as they become available over the next few weeks.
Both holes 13MR001 and 13MR002 were located within a very restrictive
Forestry Reserve Subtraction area that was granted to the Company for
an initial time period of 90 days. The holes targeted a previously
unsampled area immediately to the west of a historic open-pit gold
Hole 13MR001, which was drilled vertically to a depth of 64 m,
intersected minor occurrences of gold. Hole 13MR002, drilled at a 60
degree angle to a depth of 68.5 m, intersected significant near-surface
gold mineralization (see Table 1).
"We are very pleased to have intersected gold in the first two holes of
our drill program", stated Dennis Milburn, President and CEO of Cosigo.
"Our technical staff is very optimistic about the results expected from
our remaining drill holes".
Table 1. 13MR001 and 13MR002 screen fire assay results
Minor gold mineralization in 3 zones
*Interval widths are down-hole. True widths are yet to be determined
Maps and sections of drill holes 13MR001 and 13MR002 will be available
shortly on the Cosigo website (www.cosigo.com).
Gold mineralization in the Taraira Gold Belt is thought to be associated
with silicified quartz-sandstones, quartz-veins and with iron-oxide
rich sedimentary strata. The gold belt is, at least in part, a coarse
gold environment although the contribution by coarse gold to the grades
in holes 13MR001 and 13MR002 was minor. In addition to gold fire
assays, multi-element analysis was carried out on Cosigo's drill
samples. Over the coming months the gold and multi-element data as well
as geological information from the drill holes will be interpreted by
Cosigo's technical team in order to guide the Company's exploration
The Company also announced that it has received relief from the
Colombian government with respect to future surface royalty payments on
the Machado property. This relief applies while the government
finalizes the re-organization of forestry zones in the southeastern
quadrant of Colombia.
QA / QC
Cosigo's disclosure of a technical or scientific nature in this press
release has been reviewed and approved by Dr. Joseph H. Montgomery,
P.Eng., Executive Vice President of Cosigo Resources Ltd., who serves
as a Qualified Person as defined in National Instrument 43-101.
Cosigo's quality assurance and quality control procedures include the
systematic insertion of blanks and standards into the drill sample
string. Drill chip samples were split and placed in sealed containers
prior to shipping to the ALS Minerals laboratory in North Vancouver for
gold screen fire assay and multi-element analysis.
About Cosigo Resources:
Cosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company with
mineral interests in properties in Brazil, Colombia and Canada. Cosigo
has assembled a strong team, well experienced in the exploration and
mining-finance industries. The Company's main focus is in the Taraira
Gold Belt, which straddles the border between northwestern Brazil and
southeastern Colombia. In Brazil, geological mapping has identified
more than 250 km2 of prospective geology and sampling has identified gold-bearing strata
over long strike-lengths in several locations. Cosigo's ongoing work in
the Taraira Gold Belt is the first modern exploration program in an
area known to have hosted more than 100 historic gold mining
On behalf of the Board of Directors
Cosigo Resources Ltd.
/s/ "Dennis Milburn"
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 news release.
SOURCE: Cosigo Resources Ltd.
For further information:
Barry Holmes, VP Corporate Development
Toll-free: 1-877-866-8688 (North America)