Columbia Metals Corporation Limited

Columbia Metals Corporation Limited

September 15, 2005 09:00 ET

P11 Llano Colorado Project Update; Columbia Enters Into Surface Rights Agreement For North Sonora Gold Mines

TORONTO, ONTARIO--(CCNMatthews - Sept. 15, 2005) - Columbia Metals Corporation Limited (TSX VENTURE:COL)("Columbia") is pleased to provide an update on its P11 Llano Colorado Project in Hermosillo, Sonora, Mexico. The planned induced polarization/resistivity ("IP/R") survey was initiated August 8th, 2005. Completion will require considerably more time than the originally estimated 20 field days with final documentation and report some 30 days later. Field plotted data will be sufficient for initial interpretation and drill hole site selection purposes.

Completion of the initial 31 kilometre contact will require another 10 days. It is likely that an additional 10 to 15 days will be required for fill-in and detail work as there are far more anomalies being recorded than expected. Additionally, the geophysical crew is exhausted and needs a few days rest since they have worked more than 30 consecutive days.

Initial results from the first line surveyed (Line 9+00W), on the east flank of Buenavista Hill, revealed the presence of 2 wide ,moderate to strong induced polarization ("IP") responses with a coincident resistivity ("R") low and positive metal factor ("MF") responses. These IP/R/MF signatures are those commonly associated with conductive bodies. One of the responses is directly associated with a modest gold in soil anomaly and a copper in soil anomaly. A link is provided to Columbia's website where the complete geophysical-geochemical profile is presented. Direct soil geochemical and geophysical correlation should not be expected as the surficial environment in this area is complicated. There is a downward north to south slope for all of 9+00 W and a very steep upward slope from 9+00W to the top of Buenavista Hill; therefore, the soil anomalies may well not be sourced in the immediately underlying bedrock.

Heavy seasonal rains have interfered with the planned bulldozer stripping and trenching program since the machinery and crews have been occupied with access road up-grade and repair, to facilitate access for drill equipment and water trucks as well as drill site preparation. Some new bedrock exposures have been created in the Buenavista Hill area and are being panel-chip sampled. The zinc zone is being opened up by the bulldozer and the copper zone east and stratigraphically below the zinc zone will be stripped and panel-chip sampled.

A 3,000 metre diamond drill contract has been signed with Major Drilling of Hermosillo, Sonora. It is expected that the drill will be available in 7 to 10 days.

North Sonora Update

Columbia is also pleased to announce that its wholly owned subsidiary Minera Columbia S.A. de C.V. ("Minera Columbia") has entered into a twenty (20) year lease agreement for surface rights with a consultant to the Company. The agreement for the surface rights will allow Columbia to prepare for a small scale, underground, high-grade gold mining operation. The agreement called for a lump sum payment of US $90,000 for the surface rights on 3200 hectares of the North Sonora Gold Mines ("North Sonora Mines"), located in the municipality of Puerto Penasco, Sonora, about 50 km northwest of Industrias Peno1es/Newmont's Herradura open-pit heap leach oxide gold operating mine located in northwest Sonora, Mexico.

Heavy metal, metallurgical testing of vein material taken from the accessible upper levels of the Dolores shaft is being conducted at the University of Sonora and at the Knelson Concentrator facilities in Vancouver, Preliminary results are encouraging, in that recovered grades from the Knelson concentrators are higher than the assayed head grades.

Preparations are being made and equipment purchased to lower the water level in the Dolores shaft to provide access to the -12 level so that the vein can be examined, mapped and sampled.

This press release was prepared by J.E. Steers, P Eng., Q.P. for the Company and V.P. Exploration

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Contact Information

  • Columbia Metals Corporation Limited
    Carl Di Placido
    (416) 364-6799
    (416) 364-2595 (FAX)