Columbus on the prowl for gold projects

Columbus Gold is seeking to acquire an additional gold project in South America while pushing ahead with exploration at its assets in French Guiana.

The Vancouver-based company has been striving to meet its 2020 objectives despite the COVID-19 pandemic.

Fieldwork in French Guiana resumed on May 11 after being suspended on March 17, Columbus said in a release.

Engineering studies for project improvements and modifications for mine permitting at Montagne d’Or were progressed remotely during the suspension, and are on track for completion around mid-year.

Preparations are also progressing for a drill program at the Maripa property in the French territory starting in Q3.

“The priority for 2020 remains the acquisition of an additional advanced-stage gold project in South America,” the company said, with several opportunities under evaluation.

French Guiana has confirmed 153 cases of COVID-19 but remains among the areas least affected by the pandemic with just one death.

The crisis is expected to result in a surge in M&A, especially in the gold space, where prices have risen to a multi-year high of around US$1,700/oz.