Columbus inks LOI gold exploration

Inks to acquire high-quality gold

Exploration projects in French Guiana

Columbus Gold signed a Letter of Intent (LOI) to acquire a pending exploration permit from a third party as part of its strategy to consolidate a portfolio of high-quality gold exploration projects in French Guiana, France.

The exploration permit covers the core of one of the most prominent placer gold mining districts in French Guiana, which is currently exposed to illegal artisanal hard rock mining of high-grade quartz-gold veins. 

The project area is interpreted to be underlain by prospective greenstone belt volcanic rocks, although the local geology remains poorly understood and unexplored despite intense placer mining activity in the past.  

The exploration permit has good access by well-maintained forestry roads, which provides for simple and low-cost logistics for transportation and exploration. Rock Lefrançois, Columbus' President and Chief Executive Officer, commented, "We are very excited of the addition of this early-stage gold play, which diversifies Columbus’ portfolio in French Guiana in combination with the Montagne d’Or mine development project and the more advanced-stage Maripa exploration project.  Our initial evaluation has highlighted a very favorable setting for a large gold system.”