Cosigo Resources Ltd. (TSXV: NEX.CSG.h) – April 23, 2024 – TheNewswire. The management of Cosigo Resources reports that the Company at its Taraira North property has completed converting its onsite field-portable “Hornet” 45 HP drill from a Reverse Circulation system to a thin wall “btw” drill rod core system. This method recovers 48 mm size diameter core enhancing sample size.  Senior Geological Professor Ricardo Tobon and Cosigo’s drill team initiated the hydraulic and water pressure systems in a challenging -50-degree hole oriented perpendicular to the strata.  Our first drill hole reached 57 feet at which depth sanding “choked” the drill system and the drill was reset to a steeper -70 degrees achieving 80 feet depth.

The “Hornet” drill has a small footprint, can be moved readily using available manpower and is ideally suited for reconnaissance testing of our large area of rugged jungle-like ground.  Its potential convertability between RC and core functions will allow the technical team to more readily access locations that would require much greater efforts if a larger machine were employed while still retaining versatility.

Placement of the test drill holes was determined for convenience near the Cosigo camp tool shop and not for geological potential.  [The test holes were named “Gallinero” the Spanish word for Cosigo’s camp chicken coop.]

The operating experience will now help guide innovative improvements to the existing drill and, possibly, selection of an alternative, more robust machine. Cosigo’s geological and drill team will consider the results of drilling difficulties, logistics, core recovery and other issues and endeavor to design an efficient and practical drilling campaign.  Core handling and sampling issues will also be improved.

Table 1.  Sample Data – TCR of Gallinero 1 Drill Hole inserted for illustration.

From (ft)	To (ft)	Core Length (ft)	Total core recovery (TCR) (%)
0.00	3.80	2.20	57.9
3.80	9.00	1.30	25.0
9.00	14.00	3.25	65.0
14.00	15.00	0.33	33.0
15.00	19.00	0.67	16.8
19.00	24.00	4.75	95.0
24.00	26.00	2.00	100.0
26.00	29.00	2.30	76.7
29.00	34.00	5.00	100.0
34.00	38.00	4.00	100.0
38.00	41.00	2.88	95.8
41.00	42.00	0.67	67.0
42.00	44.00	2.00	100.0
44.00	48.00	4.00	100.0
48.00	50.00	2.00	100.0
50.00	55.00	3.67	73.4
55.00	57.00	2.42	121.0

 

The equipment test and stratigraphic information will assist future selection of target drill angles, depths, and locations.  Cosigo currently is reaching out to a known Canadian commercial drill contractor with drills located in Bogota regarding provision of a machine capable of reaching greater depths with power to overcome sanding and broken formations.

Drill Holes Gallinero 1 & 2

The core retrieved from Gallinero 1 and 2 holes provided improved stratigraphic study and, incidental to the test, revealed a previously unsuspected conglomerate layer from a depth of 9 feet to 25.67 feet below the camp; the remainder comprised sandstone.  Atomic absorption assays of 50g Gallinero 1 samples showed 3 of 11 samples contained 10 ppb or greater Au with one sample returning 20 ppb Au. Four of 12 conglomerate samples from Gallinero 2 drill hole returned assays of 10 ppb Au. A two sample Screen Test showed no benefit compared to values obtained from standard samples.

 Gallinero 2 was assayed in its entirety of 80 feet and in addition to the conglomerate mentioned above, returned assays of 170 ppb Au and 380 ppb Au in samples from near the bottom of the hole. Although the Cosigo team hoped to reach greater depths, in particular a known conglomerate layer, sand in the rock package could not be overcome using the small machine.  

Stratigraphic and mineral information from G – 1 and G-2 will be added to our district geological database and ultimately contributes to the larger ridge map in the Cosigo mineral concession.  

 Cosigo believes that a significant “nugget” effect may apply to Taraira gold mineralization that needs to be considered in future when evaluating the property.  Also, the Company is exploring use of the innovative “Chrysos” analytical process that may offer substantial savings.

Erik Ostensoe, P.Geo., a geological consultant to the Company and a Qualified Person as defined by National Instrument 43-101, has reviewed Gallinero 1 & 2 drill cores and approves the scientific and technical disclosure in this news release.

About Cosigo Resources

Cosigo Resources Ltd. is a junior exploration company trading on the TSX Venture’s NEX Exchange (symbol CSG.h). The Company is exploring and developing its 100% owned properties in the Taraira Gold District in south-east Colombia near the border of Brazil. The Company also holds a 100% interest in the Willow Creek property, located near Winnemucca in the northern sierras of Nevada, a 100% interest in the Damian property in the Cordillera region of Colombia, and owns 13.26% of DHK Diamonds Inc. a company exploring for diamonds in the DO27 region of the NorthWest Territories of Canada.

To find out more about Cosigo Resources visit our website at www.cosigo.com.

FOR MORE INFORMATION CONTACT:
Cosigo Resources Ltd.

Andy Rendle
President & COO
Andy@Cosigo.com

 

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