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UPDATE: Continental Gold Reports 2013 Exploration, Development Plans for Buritica Project; Stock Up 5%, Just Below Day Highs

Continental Gold Limited (CNL.TO) said that its 2013 drilling plan will utilize a minimum of 7 diamond drill rigs to drill 95,000 metres, with 48,000 metres focused on exploration targets.

The company has also completed approximately 40 metres of steel arch-supported development on schedule in both the Higabra Valley tunnel and the Veta Sur ramp. It is expected that the development pace will increase as it progresses into stronger working index rocks.

CNL went up by nearly 5% to $9.25, just a cent below day highs. Over 175,000 CNL shares have changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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