Vancouver, BC, Canada, November 19, 2014. Columbus Gold Corporation (CGT: TSX-V, CBGDF: OTCQX) (“Columbus Gold”) is pleased to report on the progress of the Environmental and Social Impact Assessment (“ESIA”) on Columbus Gold’s Montagne d’Or Gold Deposit, Paul Isnard Project, French Guiana.The ESIA is being completed by Montreal-based WSP.
The field work for baseline environmental studies and a first round of stakeholders’ consultations concluded in early November 2014. The completion of the preliminary environmental assessment report and development of the ESIA study Terms of Reference are scheduled for January, 2015, to support a Preliminary Economic Assessment (“PEA”) on the Montagne d’Or Gold Deposit by the end of Q1-2015.
Baseline field studies completed during the current year include: geomorphology, landscape, hydrogeology; surface and groundwater quality, soils and sediments sampling; biodiversity inventories; hydrology, meteorology, air quality, noise; archaeology and cultural heritage.
The submission of a comprehensive ESIA to the French government Ministry for Ecology, Sustainable Development and Energy, is targeted for September 2016 in connection with the planned completion of a final bankable feasibility study (“BFS”) by March 2017.
WSP is one of the world’s leading professional services firms with 17,000 employees working in more than 300 offices located in 30 countries, on 5 continents. For over 30 years, WSP’s personnel have been providing environmental services to improve the sustainability, acceptability and profitability of mining projects. The WSP team of environmental and social experts involved in the Paul Isnard Project includes specialists provided by GéoPlusEnvironnement, the second largest consulting firm specialized in the mining sector in France, and BIOTOPE, the most important consulting firm in France specialized in ecological expertise which has a regional office in Cayenne, French Guiana.WSP and its partners have conducted environmental studies of gold mining projects in many countries and regions, including Canada, Burkina Faso and French Guiana.
All studies are being funded by Nord Gold N.V. (LSE: NORD LI) (“Nordgold”) as part of a 3 year minimum US$30 million exploration and development program pursuant to which Nordgold can earn a 50.01% interest in Montagne d’Or on the Paul Isnard mineral titles, by completing a BFS by March 2017.
ON BEHALF OF THE BOARD,
Robert F. Giustra
Chairman & CEO
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