Consolidated Goldfields Corp.
PINKSHEETS : CDGF

October 02, 2012 09:30 ET

Consolidated Goldfields Receives Additional Assay Results From Its Cahuilla Gold/Silver Drill Program

RENO, NEVADA--(Marketwire - Oct. 2, 2012) - Consolidated Goldfields Corp. ("Consolidated" or the "Company") (PINKSHEETS:CDGF) is pleased to announce further drill program assay results from its Cahuilla gold-silver project in Imperial County, California. The majority of drilling was conducted along the margins of the known precious metal mineralization and exploration continues in the south and west portions of the project area where minimal drill data exists.

The Company is pleased to report the following drill results:

Hole # From To TD Thickness
- m (ft)
Gold - g/t
(oz/ton)
*CAH-260 9.1 77.7 213.4 68.6 (225 ) 0.34 (0.010 )
*CAH-261 4.6 83.8 213.4 79.2 (260 ) 0.15 (0.015 )
109.7 114.3 4.6 (15 ) 1.27 (0.037 )
129.5 135.6 6.1 (20 ) 0.79 (0.023 )
*CAH-262 12.2 105.2 213.4 93.0 (305 ) 0.58 (0.017 )
**CAH-263 30.5 56.4 213.4 25.9 (85 ) 0.45 (0.013 )
73.2 128.0 54.8 (180 ) 0.51 (0.015 )
*CAH-264 13.7 19.8 213.4 6.1 (20 ) 0.34 (0.010 )
30.5 83.8 53.3 (175 ) 0.68 (0.020 )
CAH-265 4.6 89.9 213.4 85.3 (280 ) 0.55 (0.016 )
CAH-266 25.9 71.6 167.6 45.7 (150 ) 0.38 (0.011 )
*CAH-267 29.0 83.8 182.9 54.8 (180 ) 1.13 (0.033 )
108.2 128.0 19.8 (65 ) 0.86 (0.025 )
CAH-268 3.0 65.5 182.9 62.5 (205 ) 0.58 (0.017 )
157.0 161.5 4.5 (15 ) 0.68 (0.020 )
CAH-269 6.1 7.6 213.4 1.5 (5 ) 0.82 (0.024 )
18.3 35.1 16.8 (55 ) 0.51 (0.015 )
67.1 80.8 13.7 (45 ) 1.64 (0.048 )
Including 74.7 76.2 1.5 (5 ) 10.19 (0.297 )
105.2 114.3 9.1 (30 ) 0.75 (0.022 )
141.7 164.6 22.9 (75 ) 0.75 (0.022 )
173.7 176.8 3.1 (10 ) 0.68 (0.020 )
CAH-270 19.8 38.1 213.4 18.3 (60 ) 0.68 (0.020 )
54.9 61.0 6.1 (20 ) 1.16 (0.034 )
74.7 83.8 9.1 (30 ) 0.79 (0.023 )
134.1 137.2 3.1 (10 ) 5.00 (0.146 )
Including 135.7 137.2 1.5 (5 ) 9.37 (0.273 )
155.4 184.4 29.0 (95 ) 0.34 (0.010 )
202.7 213.4 10.7 (35 ) 3.22 (0.094 )
Including 204.2 205.7 1.5 (5 ) 19.37 (0.565 )
*CAH-271 48.8 77.7 213.4 32.9 (95 ) 0.48 (0.014 )
108.2 146.3 38.1 (125 ) 1.20 (0.035 )
Including 112.8 114.3 1.5 (5 ) 12.69 (0.370 )
CAH-272 Assays pending
*CAH-273 7.6 15.2 213.4 7.6 (25 ) 0.34 (0.010 )
32.0 48.8 16.8 (55 ) 0.51 (0.015 )
73.2 83.8 10.6 (35 ) 0.51 (0.015 )
150.9 125.4 1.5 (5 ) 2.23 (0.065 )
172.2 184.4 12.2 (40 ) 0.51 (0.015 )

*CAH holes intersected silver values of greater than 100 grams (2.92 oz/t) in one or more 1.5m sample intervals. **CAH-263 intersected 25.9m of 123.0 g/t silver (3.59 oz/t) from 102.0 to 128.0m with a high of 484.6 g/t (14.2 oz/t) from 102.1 to 103.6m.

Consolidated is also pleased to report the purchase of an additional 40 acres of private land within the main project area.

The private land is located in the western portion of the precious metal deposit and encompasses a significant section of the Modoc Fault along with other important target areas. The majority of this newly owned land is situated outside of the existing permit and will be included in the next phase of environmental permitting which is currently in progress.

Assaying of the reverse circulation samples was conducted by Inspectorate Laboratory in Reno, Nevada. Drill samples were collected by Mr. Paul Stubble (project geologist), split on site, placed in sample bags and delivered to Inspectorate Laboratory in Reno, Nevada for analysis. In addition, blanks and certified standards have been inserted into the sample stream at random intervals for quality control purposes.

The Cahuilla Project is a large epithermal, paleo-hot springs system hosting multiple high grade veins that occur within an extensive body of disseminated gold-silver mineralization. For further information on the Cahuilla project refer to the NI 43-101 technical report entitled "Cahuilla Property 43-101 Technical Report," dated October 25, 2007 prepared by Todd Wakefield, MAusIMM of AMEC E&C Services filed on Sedar on November 15, 2007.

Lane Griffin, Professional Geologist, is the company's nominated qualified person responsible for monitoring the supervision and quality control of the programs completed on the Company's properties. Mr. Griffin has reviewed and verified the technical information contained in this news release.

Certain information contained in this news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections. However, such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from such forward-looking statements. The Company disclaims any intent or obligation to update publicly any forward-looking statements set forth herein, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contact Information

  • Consolidated Goldfields Corp.
    Marc J. Andrews
    President/CEO
    775.461.2545