CB Gold Inc.
TSX VENTURE : CBJ

CB Gold Inc.

September 16, 2013 08:00 ET

CB Gold Inc. Significantly Increases the Vertical Extent and Mineralization of the El Dorado and San Bartolo Vein Systems at the Vetas Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2013) - CB Gold Inc. (TSX VENTURE:CBJ) ("CB Gold" or the "Company") is pleased to provide summary drilling results from its Vetas Gold Project, District of Santander, Colombia ("Vetas Gold Project"), located 10 km south of AUX's La Bodega, La Mascota and El Gigante deposits. Results from four holes include 7 separate intercepts of 5 g/t AuEq or greater.

El Dorado and San Bartolo Drilling

The Company has received assays from holes 159 to 162 drilled from Platform 29, located 475m east of Platform 21. These are the final holes in the 2013 drilling program and have intercepted wider zones of mineralization in the Tesorito vein and associated hanging wall structures (part of the El Dorado Vein System), including 6.44m at 2.20 g/t Au (RM-DDH13-161) and 10.99m at 1.01 g/t Au (RM-DDH13-160). These results demonstrate the northern and eastern continuity and extension of the El Dorado and San Bartolo Vein Systems, respectively.

Hole 161 intersected the San Bartolo vein approximately 500m below surface, which indicates a considerable vertical extent of high-grade mineralization - see results of surface sampling of the San Bartolo structure below. All of the structures intersected in the recent drilling extend to surface and have been mapped and sampled where possible. Considering that the San Bartolo vein system has been traced down dip for at least 500m, it is highly likely that the other structures have a similar vertical extent.

HoleID From (m) To (m) Length (m) Au (g/t) Ag (g/t) AuEq (g/t)
RM-DDH13-159 101.78 105.25 3.47 1.27 11.39 1.47
and 159.27 160.40 1.13 5.12 18.90 5.45
RM-DDH13-160 93.86 104.85 10.99 1.01 10.13 1.19
including 103.50 104.85 1.35 4.32 7.90 4.46
and 147.26 148.06 0.80 4.50 46.40 5.32
and 241.10 242.10 1.00 7.17 36.30 7.81
and 330.35 331.25 0.90 16.40 4.80 16.48
RM-DDH13-161 137.16 143.60 6.44 2.20 9.26 2.36
and 511.55 514.55 3.00 2.94 22.40 3.33
RM-DDH13-162 192.20 193.20 1.00 7.21 348.00 13.32
and 206.50 207.43 0.93 8.23 1.80 8.26
and 400.15 401.28 1.13 16.19 35.60 16.82
All Intervals are reported as drilled thicknesses and are believed to be between 70-100% of the true widths of the mineralization. AuEq in this table and the subsequent tables was calculated using the 12 month trailing average for Au and Ag through March 1, 2011 (US$1268/oz Au and US$22.28/oz Ag). Using ratio of US$Au:US$Ag (56.9), assuming 100% recovery of both metals and no NSR the AuEq formula is: AuEq = Au g/t + (Ag g/t / 56.9).

These holes intercepted the San Bartolo, Botellas and Tesorito veins on the western and northern areas of the Real Minera property. Hole 159 is interpreted to have intersected a hanging wall structure to the Tesorito vein and the Tesorito structure proper (1.13m at 5.12 g/t Au and 18.90 g/t Ag). Drill hole 160 intersected the Tesorito vein, a footwall splay to the Tesorito vein, the Botellas Vein (1.0m at 7.17 g/t Au and 36.30 g/t Ag) and the San Bartolo vein (0.90m at 16.40 g/t Au). Drill hole 161 intersected the Tesorito vein and the San Bartolo vein (3.00m at 2.94 g/t Au and 22.40 g/t Ag). Drill hole 162 intersected two mineralized structures interpreted to be the Botellas vein (1.00m at 7.21 g/t Au and 348.00 g/t Ag) and the San Bartolo vein (1.13m at 16.19 g/t Au and 35.60 g/t Ag). Further details of the drill holes mentioned in the news release can be found at www.cbgoldinc.com.

Vetas Gold Project Surface Sampling

CB Gold recently completed a program of surface trenching and rock saw channel sampling (141 samples) over several of the structures present within the boundaries of CB Gold´s concessions. Samples were taken in fresh rock using a diamond saw to cut perpendicular channels across the structures. The results confirm the surface projections of the known underground vein systems and demonstrate that the high-grade structures continue to surface. Highlights include:

  • 2.85 g/t Au over an average width of 1.10m and strike length of 9.0m - Tesorito West
  • 2.29 g/t Au over an average width of 1.14m and strike length of 59.90 m - Tesorito East
  • 1.25 g/t Au over an average width of 0.74m and strike length of 88.80m - San Bartolo
  • 1.42 g/t Au over an average width of 0.68m and strike length of 3.5m - Botellas, and
  • 4.58 g/t Au over an average width of 1.05m and strike length of 1.0m - El Brinco.

These results are shown on the attached maps and can also be viewed at www.cbgoldinc.com.

Surface Results Table:

ID STRUCTURE TYPE LENGTH (m) Au g/t Ag g/t AuEq g/t
1 Tesorito Vein (East) VEIN 0.65 0.86 4.60 0.94
2 Tesorito Vein (East) VEIN 0.45 1.34 67.70 2.53
Tesorito Vein (East) VEINLETS 0.70 0.86 4.40 0.94
3 Tesorito Vein (East) VEIN 1.15 0.13 0.50 0.14
4 Tesorito Vein (East) VEINLETS 1.20 8.60 0.80 8.61
Tesorito Vein (East) VEINLETS 1.00 0.50 2.10 0.53
5 Tesorito Vein (East) VEIN 0.55 0.65 1.70 0.67
6 La Peter-Dorado Vein VEIN 0.50 22.80 6.80 22.92
La Peter-Dorado Vein VEIN 0.55 1.45 1.30 1.48
La Peter-Dorado Vein VEIN 1.05 0.44 1.20 0.46
7 Tesorito Vein VEIN 1.15 1.26 2.80 1.31
8 Tesorito Vein VEIN 0.45 0.17 0.70 0.18
Tesorito Vein VEIN 0.60 7.89 25.70 8.34
9 Las Botellas Vein (West) VEIN 0.55 1.02 8.40 1.17
10 Las Botellas Vein (West) VEIN 0.40 2.08 24.40 2.51
Las Botellas Vein (West) VEIN 0.40 1.31 17.80 1.62
11 Las Botellas Vein (East) VEIN 0.30 2.15 1.00 2.16
12 El Brinco Vein (East) VEIN 0.60 1.54 2.80 1.59
El Brinco Vein (East) VEIN 0.45 3.32 19.70 3.67
13 San Bartolo Vein VEIN 0.80 0.89 6.80 1.01
14 San Bartolo Vein VEINLETS 1.00 2.05 8.20 2.20
15 San Bartolo Vein VEIN 0.55 0.49 1.30 0.51
16 San Bartolo Vein VEIN 0.70 1.12 2.30 1.16
17 San Bartolo Vein VEIN 0.50 1.24 1.70 1.27
18 San Bartolo Vein VEIN 0.40 1.88 10.90 2.07
San Bartolo Vein VEIN 0.80 0.98 2.80 1.03
19 San Bartolo Vein VEIN 0.45 1.15 10.60 1.34
AuEq in this table and the subsequent tables was calculated using the 12 month trailing average for Au and Ag through March 1, 2011 (US$1268/oz Au and US$22.28/oz Ag). Using ratio of US$Au:US$Ag (56.9), assuming 100% recovery of both metals and no NSR the AuEq formula is: AuEq = Au g/t + (Ag g/t / 56.9).

Vetas Gold Project - Geochemistry:

All the samples taken by CB Gold at its Vetas Gold Project were prepared by ACME Labs Medellin, Colombia and analyzed by ACME Labs in Vancouver, Canada. The Company has a standard QA/QC program, which includes regular insertion of blank material, certified reference material and duplicate samples. All reported gold values were determined from coarse and fine (+/- 200 mesh) metallic screen fractions of a 1 kg sample, using 50 g fire assay charges from each fraction, followed by an AA finish, or gravimetric finish for samples grading higher than 10 g/t Au. Silver grades were determined by dissolution of a 30 g sample in aqua regia with an ICP- MS finish. The QA/QC program has been reviewed by various independent consultants experienced in QA/QC work.

The scientific and technical information on which this news release has been based was reviewed and approved by Marius Maré, Vice President Exploration and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

About CB Gold Inc.:

CB Gold is a mineral exploration company headquartered in Vancouver, British Columbia. CB Gold, through its wholly-owned subsidiary, Leyhat Colombia Sucursal, is actively pursuing the exploration and development of mineral properties in the Republic of Colombia. The Vetas Gold Project consists of a number of existing mines (operations currently suspended) and exploration concessions, and its exploration and development activities are not affected by the Regional Natural Park Paramo de Santurban.

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 or accuracy of this news release.

The securities of CB Gold described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

To view maps associated with this press release, please visit the following links:

http://media3.marketwire.com/docs/897740_drill_hole.pdf

http://media3.marketwire.com/docs/897740_Sampling_Map.jpg

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