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Quimbaya Gold Says Initial Drilling Program at Tahami Project in Colombia Intersects Mineralization

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Quimbaya Gold (QIM.CN) said Tuesday that all six holes from its initial drill program at the Tahami Project in Colombia, intersected a copper-molybdenum porphyry system.

The six holes, totaling 2,928 meters, were part of a 5,000 meter program. Assay results are expected later this month or next month, the company said, noting that mineralization was variable between holes, and in some places, marginal.

"We modelled this system from surface, and all six holes intersected the porphyry system as predicted by the exploration model. The drilling has given us the alteration zoning and the principal intra-mineral porphyry, which will help guide future drilling within the porphyry system," Chief Executive Alexandre Boivin said.

Quimbaya Gold shares were last seen unchanged at CA$0.38 on the Canadian Securities Exchange.

Price: $0.39, Change: $+0.01, Percent Change: +2.63%

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