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VICTORIA, CANADA – TheNewswire - August 24, 2026: Cosigo Resources Ltd. (“Cosigo” or the “Company”) (TSXV: CSG) (OTCQB:COSRF) shares drilling update details.
Drilling update
The following table (Table 1) includes previously announced and current data from drilling at the Taraira property located in southern Colombia: (please note that information concerning sample processing and analysis, independent laboratories and disclaimers are at the end of this News Release). The Company has no identified reserves or resources and there is no assurance that on-going and future work will identify such.
Table 1 presents hole number, drill type, number of samples, date of data release, and range in ppm of gold analyses. Details of analyses from holes 1 to 20 are included in the Company’s NI 43-101 report that is available on SEDAR+.
Table 1.
|
Hole |
Type |
Samples |
Depth m |
Results NR Date |
Au range ppm |
|
1 |
RC |
39 |
64.008 |
2014/2024-10-03 |
0.01 - 0.68 |
|
2 |
RC |
40 |
68.58 |
2014/2024-10-03 |
0.01 - 5.56 |
|
3 |
RC |
37 |
62.484 |
2014/2024-10-03 |
<0.01 - 0.4 (incl 1.76) |
|
4 |
RC |
57 |
86.868 |
2014/2024-10-03 |
0.01 - 0.32 (incl 1.59) |
|
5 |
RC |
40 |
64.008 |
2014/2024-10-03 |
0.01 - 3.93 |
|
6 |
RC |
45 |
71.628 |
2014/2024-10-03 |
0.01 - 0.43 |
|
7 |
RC |
46 |
71.628 |
2014/2024-10-03 |
<0.01 - 4.47 (incl 29.9) |
|
8 |
RC |
58 |
88.392 |
2014/2024-10-03 |
0.01 - 2.13 |
|
9 |
RC |
56 |
85.344 |
2014/2024-10-03 |
<0.01 - 0.66 |
|
10 |
RC |
26 |
39.624 |
2014/2024-10-03 |
0.01 - 0.27 (incl 1.7) |
|
11 |
RC |
31 |
47.244 |
2014/2024-10-03 |
0.01 - 0.56 (incl 8.32) |
|
12 |
RC |
36 |
57.912 |
2014/2024-10-03 |
0.01 - 1.16 |
|
13 |
RC |
52 |
80.772 |
2014/2024-10-03 |
<0.01 - 0.07 (incl 0.39) |
|
14 |
RC |
22 |
33.528 |
2014/2024-10-03 |
0.01 - 0.36 |
|
15 |
RC |
62 |
94.7928 |
2014/2024-10-03 |
<0.01 - 0.06 (incl 0.2) |
|
16 |
RC |
10 |
16.764 |
2014/2024-10-03 |
0.01 - 0.18 (incl 0.74) |
|
17 |
RC |
7 |
10.668 |
2014/2024-10-03 |
<0.01 - 0.02 (incl 2.1, 0.1) |
|
18 |
RC |
36 |
54.864 |
2014/2024-10-03 |
0.01 - 3.31 (incl 18.7) |
|
19 |
RC |
19 |
28.956 |
2014/2024-10-03 |
0.01 - 0.49 (incl 1.29) |
|
20 |
RC |
26 |
39.624 |
2014/2024-10-03 |
0.01 - 2.19 |
|
Galli1 |
BTW Core |
29 |
17.37 |
2024-04-23 |
<0.01 - 0.02 |
|
Galli2 |
BTW Core |
41 |
24.38 |
2024-04-23 |
<0.01 - 0.38 |
|
21 |
RC |
60 |
87 |
2026-08-24 |
<0.005 - 1.14 |
|
22 |
BTW Core |
101 |
85.2 |
2024-12-18 |
0.01 - 1.74 (incl 11.3) |
|
23 |
RC-rescue |
32 |
47 |
non material |
VG: 0 (incl 1,5)*** see note |
|
24 |
RC-test |
15 |
21.03 |
Only short RC test |
VG: 0 (incl 1,5)*** see note |
|
25 |
BTW Core |
8 |
7.315 |
2026-08-24 |
0.009 – 0.012 |
|
Active work ongoing below this line |
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|
26 |
RC/BTW |
139.83 |
Core enroute |
||
|
27 |
RC/BTW |
140 |
Core enroute |
||
|
28 |
BTW Core |
140 |
Core in camp |
||
|
29 |
BTW Core |
70 m + |
drilling |
Pending |
|
|
30 |
BTW Core |
To be started |
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Note re holes 23, 24 and 25: RC hole 23 was placed to release tools jambed in hole21. Hole 24 tested equipment and tools. Hole 25 was dual purpose and served as an anchor hole. Cuttings were retrieved and tested by the Company’s “…. gravity lab field elutriation water sluice tower device” to check for possible visible gold – results are not disclosed and not reliable and not NI 43-101 acceptable.
Table 2, Analyses from hole 24TAR_RCDH_021, that is included to ensure complete disclosure, presents analyses that were not available and were not included in the Company’s December 18, 2024 news release.
Table 2
|
From (m) |
To (m) |
Length (m) |
Avg Au (g/t) |
Samples |
|
15.2 |
27.36 |
12.16 |
0.233 |
8 |
|
30.4 |
42.56 |
12.16 |
0.121 |
8 |
|
68.4 |
72.96 |
4.56 |
0.096 |
3 |
|
76.0 |
79.04 |
3.04 |
0.914 |
2 |
Note: Hole 21 bottomed in a sand filled cavity, likely historic workings by artisan miners, and the interval 79.04 to 91.02 m deeper than the above table is considered unreliable and their upcoming results will be disregarded in data management.
Current Report
As shown in Table 1, holes 26, 27 and 28 have been completed and cores are being prepped in camp and ultimately forwarded to the North Vancouver, Canada, laboratory for analysis. ETA of results is 6 to 12 weeks.
Core from Hole 29 is in storage at the camp awaiting prep.
The current stage of Cosigo’s work has been highlighted by a number of costly problems endemic to the tropics: erratic weather conditions, difficult logistics (including limited cargo space on aircraft), fuel acquisition and quality issues, and crude transportation networks (air, river and roads); balanced by an abundance of capable and willing personnel.
Geophysics Database acquisition
Cosigo has initiated a formal submission to the Colombian Geological Survey (Servicio Geologico Colombiano (SGC)) to acquire high-resolution airborne magnetometry and gamma-ray spectrometry data corresponding to Block #9 of the SGC’s historical (1993, 1996-1997 and 2019) regional surveys. Block #9 encompasses all of Cosigo’s Taraira land holdings. Delivery may occur within the next two quarters.
Data processing test update
Cosigo is exploring methods, including AI tools (Anthropic’s Claude and Google’s Gemini) for purposes of data standardization and auditing. To date, efforts have been directed to the 25 hole master set of 1035 samples for 59 elements comprising 852 RC and 179 core assays from three different labs. Potential spreadsheet misalignments and data migration errors can be identified much more readily. Reliability tests of screen fire assay data versus standard atomic absorption (AA) fire assays may allow useful statistical pattern recognition exercises.
Still to be confronted: the challenge of Cosigo’s much larger data set from the entire Taraira Ridge. The Mobile MetaI Ions (MMI) geochemistry folio includes approximately 6000 samples, each of which has numbers for 45 elements – resulting in about 300,000 data points. Note that these samples were reported in News Releases from 2008 to 2011.
Cosigo has completed several bulk sample tests that have smaller spreadsheets, results of which were reported in News Releases from 2010 to 2025.
Cosigo may be able to use the various technical data, combined with its personal and acquired geological data, to select targets for future drilling operations.
QA/QC, Data Verification, and Analytical Laboratories
Cosigo’s comprehensive database comprises a multi-year folio of geochemical analyses performed by ALS Canada Ltd. and SGS Canada Inc. at commercial laboratories in Canada. Specialized non-destructive gold analyses were performed by MSALABS in Prince George, B. C., using Chrysos Photon Assay technology. All labs utilized are independent commercial testing laboratories accredited to ISO/IEC 17025 standards for specific registered analytical procedures. Each laboratory has no relationship to Cosigo and acts as an independent arms-length service provider.
Erik Ostensoe, P.Geo., a geological consultant to the Company and a Qualified Person as defined by National Instrument 43-101, has reviewed and approves the scientific and technical disclosure in this news release.
About Cosigo Resources
Cosigo Resources Ltd. is a junior exploration company trading on the TSX Venture Exchange (symbol CSG.V). The Company is focused on exploring and developing the gold potential of its properties in the Taraira District in south-east Colombia near the border of Brazil. The Company also holds a 100% interest in the Willow Creek property, located in the northern sierras of Nevada near Winnemucca, a 100% interest in the Damian property in the Cordillera region of Colombia, and owns 13.23% of DHK Diamonds Inc. a company exploring for diamonds in the DO27 region of the Northwest Territories of Canada.
To find out more about Cosigo Resources visit our website at www.cosigo.com.
FOR MORE INFORMATION CONTACT:
Cosigo Resources Ltd.
Andy Rendle
President & COO
Andy@Cosigo.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX-Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this Release.
Cautionary and Forward-Looking Statements
This release contains forward-looking statements regarding future drilling schedules, assay delivery timelines, and exploration plans. Forward-looking statements involve inherent risks, including logistics delays, mechanical failures, and changing geological conditions. Actual results may differ materially. The Company undertakes no obligation to update these statements except as required by law.
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