The Buriticá project is Continental Gold’s 100%-owned flagship high-grade gold project located in the middle Cauca belt in the northwest region of Colombia. Fully permitted and on schedule for 2020 production, the project is easily accessible by an approximately two-hour drive on the paved Pan-American highway from Medellín, Colombia’s second largest city. The Buriticá project is a rare combination of size, grade, straightforward metallurgy, excellent infrastructure and growth potential. On March 18, 2019, the Company released an independent technical report that indicates the Buriticá project will be a lowest quartile cost producer and an economically robust mine. Once in production, Buriticá has the potential to approximately double the formal production of gold in Colombia and become the largest single gold mine in the country.
In association with various government entities in Colombia, the Company was the first in the country to formalize small-scale mining associations, paving the way for the implementation of legal and responsible small-scale mining operations at the Buriticá project. In addition, the Company has operated a 30 tpd small-scale mine at Buriticá since 2007 and is one of the largest employers in northwestern Antioquia. The Company focuses on providing a safe working environment and partnering with local communities on key social projects.
On January 30, 2019, the Company issued an updated mineral resource estimate for the Buriticá Project (the “2019 Resource Estimate”) based on 356,053 metres of drilling and 9,294 metres of underground sampling (as at January 30, 2019).