Colossus Minerals Inc.
Toronto - March 24, 2011 – Colossus Minerals Inc.today announced that it has encountered additional high-grade mineralization in initial results from a new 25,000 metre surface drill program at the Serra Pelada Gold-Platinum-Palladium Project, the Colossus-COOMIGASP Joint Venture located in Para State, Brazil.
- SPD-095 intersected three high grade subzones in the Central Mineralized Zone ("CMZ"), including:
- 1.80 metres at 63.83 g/t gold, 3.37 g/t platinum and 3.92 g/t palladium
- 6.93 metres at 59.66 g/t gold, 70.68 g/t platinum and 45.95 g/t palladium
- 7.81 metres at 136.43 g/t gold, 294.20 g/t platinum and 121.40 g/t palladium
- The latter two subzones exhibit the highest grades of platinum so far encountered in Colossus drilling at the Serra Pelada Project and are open to the northeast and southwest
- SPD-086A extends the GT zone 75 metres to the northeast toward the Western Zone and also exhibits high platinum grades and a high platinum/palladium ratio, including 1.50 metres at 22.25 g/t platinum plus 1.34 g/t palladium
- SPD-089 included 14.00 g/t gold over 1.14 metres approximate true thickness and demonstrated a lateral strike of approximately 15 metres for the high grade core of the Portal Zone in its vicinity.