UPDATE: Colossus Minerals Gains 7% As Encounters Gold at Elefante
Colossus Minerals Inc. (CSI.TO) reported assay results from the recent diamond drilling program on the Elefante area, located approximately 2 kilometres to the southeast of the Serra Pelada Gold-Platinum-Palladium Mine.
The company said hole EL-12-001 contained the highest overall gold value and returned 5.70 metres grading 5.41 g/t gold, 0.04 g/t platinum and 0.29 g/tpalladium. Hole EL-12-002 contained the highest overall platinum and palladium values and returned 5.10 metres grading 0.45 g/t gold, 1.27 g/t platinum and 2.04 g/tpalladium.
CSI went up by nearly 7% to $5, just 6 cents below day highs.
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