With this deal, the company aims to accelerate to complete the formerly announced 5,000m, Phase I program at the complex.
The firm has received water pumping permit on 13 July from the Colombian environmental agency, Corantioquia, in order to facilitate a second drill rig.
The permit allows water to be pumped from local creeks to supply diamond drilling operations over a period of 14 months.
Colombia Crest Gold president and CEO Hans Rasmussen said all holes drilled to date exhibit intense hydrothermal alteration and disseminated sulfide mineralization suggesting the core intersects porphyry style disseminated gold mineralization.
"Each hole we drill improves our understanding of the size, zonation and intensity of the gold-rich porphyry copper system. The water pumping permit required about five months to process, and is essential for the addition of the second diamond drill rig to accelerate the program," Rasmussen added.
AK Drilling is mobilizing a Sandvik DE710 track mounted diamond drill rig having a potential to drill 1,000m of NQ sized core and 680m of HQ sized core. The company also intends to move a Hydracore 4000 man portable drill rig to examine regions that are not reachable through present roads.
The Arabia region is located 10km toward the western part of the La Mina project of Bellhaven Copper and Gold, and 15km toward the southern part of the Titiribi project of Sunward Resources.
The Arabia Porphyry targets is partly located on a concession, held under the Venecia contract with Colombian Mines, and partly on one concession out of 18, held under the Fredonia contract with Grupo de Bullet.
