Business
Cosigo Resources Ltd. - Machado Project Update
/ NOT FOR  DISTRIBUTION  TO  UNITED  STATES  NEWSWIRE  SERVIC...
About this update from Cosigo Resources Limited
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR  DISTRIBUTION  TO  UNITED  STATES  NEWSWIRE  SERVICES  OR  FOR \n DISSEMINATION  IN  THE  UNITED  STATES/ \n\n\nCSG: TSX-V\n\n\nVANCOUVER, April 15, 2013 /CNW/ - Cosigo Resources Ltd. (TSX-V: CSG)\n today provided the following update on its Machado Project in\n south-eastern Colombia.\n\n\nCosigo has been notified by the Colombian Ministry of Environment that a\n forestry reserve subtraction (the \"Subtraction\") has been granted to\n the Company. The granting of the Subtraction will allow Cosigo to\n mobilize for an initial drilling program on the 9,973 hectare Machado\n Project.\n\n\nThe Subtraction is subject to a number of conditions, which will impact\n Cosigo's upcoming exploration program. These include restricting\n drilling operations to an area of 45.6 hectares. The limited size of\n the subtracted area will allow for initial, albeit only partial,\n exploration of the several mineralized zones identified at Machado.\n Furthermore, the Subtraction allows for a total of 42 drill holes and\n is restricted to a duration of three months following the day the\n forestry reserve subtraction is published in the official publication\n of the Colombian government. Cosigo expects this to happen within the\n next 10 days.\n\n\n\"Despite the strict conditions attached to our initial forestry reserve\n subtraction, this marks a very significant milestone for the Machado\n Project.\" stated Dennis W. Milburn, President and CEO of the Company. \"Our Colombian team is eager to get our exploration program started and we\n will immediately proceed with an application to extend the duration and\n scope of the subtraction.\"\n\n\nRemote locations such as Machado often require a mobilization period of\n one to two months prior to the commencement of a drilling program.\n Fortunately, Cosigo has moved most of the equipment necessary for\n drilling to Colombia during the last couple of years. Cosigo has\n sufficient funding to complete its initial drilling program in an\n environmentally sustainable manner and on a geologically appropriate\n and logical basis.\n\n\nAbout Cosigo Resources:\nCosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company\n exploring for gold deposits in Colombia and Brazil. Cosigo has\n assembled a strong team, well experienc...