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Nevada

Eastside Project

Overview Photos Maps Tech Report





Catalysts for 2015-2017:

Q1, 2015: Approval of Environmental Assessment (EA)
Q3, 2016: Completion of 17,500 meter drill program
Q3, 2016: Commencement of metallurgical testing
Q4, 2016: Completion of Maiden Resource Estimate
Q1, 2017: Commencement of 2017 Drilling


   

Project Overview:

Ownership, Location and Property Size:

• 100% owned (subject to underlying royalties)
• 32 km west of Tonopah, Western Nevada along paved Highway US95
• 10 km north of US95 on excellent gravel road
• 725 mining claims covering 57.7 sq. km (22.55 sq. miles)

Infrastructure/Other:

• Major transmission line runs through property
• Adjacent to flats providing excellent operating site
• Shallow water available on site
• High desert area with sparse vegetation
• Year round drilling possible

Eastside lies 9.7 km (6 miles) north of paved highway US 95, the main road route from Las Vegas to Reno. A good gravel road, maintained by Esmeralda County, leads from the highway through the claim block. The drilling area is on the east flank of the Monte Cristo Range and a portion of the claim block extends well into the adjacent flats which would provide excellent operating sites. The valley is known to have shallow water available in the same aquifer which provided water for milling the Tonopah ores in the early 1900's. The area is high desert with sparse vegetation, and year-round drilling is possible.

General Geology:

Gold at Eastside occurs near, and is associated with, the contact of an altered Tertiary rhyolite dome and the surrounding tuffs and volcaniclastic rocks intruded by the dome. The rhyolite dome is highly altered and yielded gold values from anomalous to 7.9 g/t gold in Columbus Gold surface sampling.

The Original Target at Eastside hosts a large area of shallow oxide gold mineralization still open to the south that measures about 1,600 meters long and up to 600 meters wide (5,280 ft by 1,980 ft). Columbus is in the process of permitting a program at the Original Target that will include 14,455 meters (47,700 ft) of new drill roads and 175 drill sites that can be used for multiple drill holes. Commencing in Q2 2015, Columbus plans to drill up to 64,400 meters (212,500 ft) in 250 rotary holes [along with up to 2,600 meters (8,500 ft) in 10 core holes for detailed metallurgy] with the aim of completing an initial resource calculation at Eastside in the first half of 2016.

Columbus Gold geologists have completed geologic mapping which now extends over the entire 46.4 square kilometers (17.9 square miles) Eastside claim block at a scale of 1:6000. This mapping has identified 41 separate rhyolite domes, which Columbus believes to be important for controlling gold mineralization at Eastside. The domes range from 100 meters to 1,000 meters in diameter (328 ft to 3,280 ft). Hydrothermal alteration has been identified in, or near, about half the domes. Dozens of faults have been identified and mapped throughout the claim block, mostly trending north and northeast.

Areas with hydrothermal alteration, particularly silicification and quartz veining, have been mapped, and sampling of all these altered areas is in progress with 2,700 samples collected so far. Based on results received to date, Columbus has identified 5 new targets for priority drilling in 2015.

Drilling to Date:


• 2016 (2016): 17,500 meters (57,413 feet), including:
              12,663 meters (41,544 feet) of rotary drilling, and
              4,837 meters (15,869 feet) of core drilling
• 2015 (Phase IV): 12,298 meters (40,347 feet)
• 2013 (Phase III): 2,944 meters (9,715 feet)
• 2013 (Phase II): 2,391 meters (7,890 feet)
• 2011 (Phase I): 2,215 meters (7,405 feet)


Columbus Gold completed the Phase I drilling program in early 2011 consisting 12 holes totaling 2,125 m (7,405 ft). The best result was in drill hole ES-4 which intersected 13.6 m of 2.42 g/t Au at a depth of 157.6-171.2 m (45 ft of 0.070 opt Au from 520-565 ft), including 6 m of 5.17 g/t from 165.2-171.2 m (20 ft of 0.151 opt from 545-565 ft) and 1.5 m of 12.90 g/t from 166.7-168.2 m (5 ft of 0.337 opt from 550-555 ft). The gold zone drilled in hole ES-4 was interpreted to be open in all directions. Please refer to May 17, 2011 news release highlighting all drill assays.

Phase II drilling in 2013 encountered significant gold mineralization, including 27 meters (88.5 feet) of 1.82 g/t gold within a wider 53.4 meter intercept grading 1.108 g/t gold, in hole ES-14. ES-14 also cut 12.2 meters (40 feet) of 54.1 g/t silver (1.59 opt Ag) associated with the gold. Drilling consisted of 12 angle RC holes totaling 2,391 meters (7,890 feet) and was designed to follow up on the discovery by Columbus Gold in 2011, which cut 13.6 meters (44.6 feet) of 2.42 g/t gold (including 6 meters of 5.17 g/t gold), in hole ES-4.

Drill holes ES-13, 14, 19 and 21 cut the same zone of gold/silver mineralization but closer to surface than discovery hole ES-4 where the zone exceeded 30 meters in thickness and averaged from 0.8 g/t to 1.8 g/t gold at about 76 to 168 meters (250 to 550 feet) of vertical depth. The drilling to date indicates this zone is continuous over at least 330 meters (1,080 feet) of strike, and remains open to depth and to the surface, and in all directions except to the north. Notably, silver mineralization is associated with the gold in ES-14, 19, 20, and 21.

A drill hole location map, and an assay summary from the 2013, Phase II drill campaign can be viewed at the links below:

Map - Phase II Drill Program
Assays - Phase II Drill Program

A Phase III drill program, consisting of 2,944 meters (9,715 feet) was completed in Q4, 2013, with all drill results released in Q1, 2014. The program was designed to extend the gold mineralization encountered in Phase II. The program included some deeper drilling at approximately maximum hole depths of 305 meters (1,000 feet).

A drill hole location map, and an assay summary from the 2013, Phase III drill campaign can be viewed at the links below:

Map - Phase III Drill Program
Assays - Phase III Drill Program

Drilling in Phase III also returned the following positive results:

• ES-27: 64 m (210 ft) of 1.43 g/t gold, including 8 m (26 ft) of 5.86 g/t gold.
• ES-36: 48.8 m (160 ft) of 0.92 g/t gold, including 28 m (92 ft) of 22.5 g/t silver within the gold intercept.

Drilling results to date has identified:

• Better-grade gold mineralization grading 0.75 to 2.0 g/t gold overall but containing narrower higher-grade zones (up to 3.3 m of 9 g/t) associated with faults.
• Lower grade disseminated mineralization irregularly distributed in breccias and silicification referred to as "cloud" mineralization grading from 0.12 to 0.5 g/t gold.
• The better-grade mineralization, along the faults, cuts through the broad area of "cloud" mineralization identified by surface mapping, sampling, and drilling.

There has been insufficient exploration to date to define a mineral resource at Eastside and it is uncertain if further exploration will result in Eastside being delineated as a mineral resource. More drilling is necessary to confirm this.

Metallurgy:

• Initial metallurgical testing yielded average recoveries of 95% for gold and 52% for silver

2015/16 Work Program (~$10M):

• Up to 250 drill holes (~64,000 meters or 210,000 feet)
• Detailed metallurgical tests (including column leach tests)
• Environmental Baseline Studies
• Resource Estimate and Technical Report

On September 22, 2015, Columbus announced results for 51 widely spaced holes (12,298 meters), most of which completed or hit the intended target, intersected gold mineralization, and returned significant gold results. 17 of the holes bottomed in gold. Significant results include 152.4 meters of 0.71 gpt gold, including 28.9 meters of 2.16 gpt gold.

A drill hole location map, cross sections, and an assay summary from the 2015 Phase IV drill campaign can be viewed at the links below:

Map - Phase IV Drill Program
Assays - Phase IV Drill Program
Cross sections - At 40 meter intervals through the main mineralized area
Cross sections - At 120 meter intervals with geology
Assays - Comprehensive results to date

On August 30th, 2016, Columbus announced the conclusion of its 2016 drilling program, having completed 17,500 meters (57,413 feet) of drilling, including 12,663 meters (41,544 feet) of reverse circulation rotary drilling and 4,837 meters (15,869 feet) of diamond core drilling. To present, a total of 37,311 meters (122,411 feet) of drilling in 136 holes has been completed at Eastside. A maiden resource estimate is planned for Q4-2016.

Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is the Qualified Person under NI 43-101 who has reviewed and approved the technical content of this project description. Mr. Wallace is the President of Columbus Gold and the principal of Cordilleran Exploration Company ("Cordex"), which is conducting exploration and project generation activities for Columbus Gold on an exclusive basis.  
Columbus Gold Corporation