Colombia Crest Gold Corp. (TSXV: CLB; US: ECRTF; Frankfurt: EAT) is focused on systematically exploring, developing and monetizing promising new gold projects in Colombia as well as realizing the potential of its 100% owned San Simón project in Bolivia.
The Company has two contiguous gold properties: Fredonia and Venecia, approximately 40 km south of the city of Medellín, located within the Middle Cauca Belt. This is the most prolific gold belt in Colombia with more than 500 years of gold mining history and hosts several new gold discoveries. Targeted exploration of a porphyry gold system has shown soil sample results of up to 0.4 grams per tonne gold at the Arabia target, with drilling set to begin during Q1 2012.
The Company employs a team of seasoned geologists, each with 20+ years of experience exploring and discovering porphyry gold deposits around the world, including Argentina, Mexico, Alaska, Indonesia, and Eastern Europe. Along with a strong working capital position, the Company is accelerating exploration programs at the 34,000 hectare (81,600+ acres) Fredonia and Venecia projects in Colombia.
At the 100% owned San Simón project in Bolivia, diamond drilling of 1,355 metres was recently completed at the Paititi and Mina Vieja zones. The results of this included 1.5 metres of 14.7 grams per tonne gold and 1.5 metres of 6.71 grams per tonne gold. The Company is looking at developing the Trinidad-Mina Vieja portion of the project, through a possible partnership with a small-scale mining company.
The Company has a NI 43-101 Inferred Mineral Resource Estimate for the Doña Amelia zone (part of the San Simón project, Bolivia), with an Indicated Mineral Resource of 262,300 tonnes grading 5.15 grams per tonne (g/t) gold and an Inferred Mineral Resource of 251,800 tonnes grading 5.46 g/t gold, classified at a 3 g/t cut-off.
