| February 7, 2012 |
| Antioquia Gold Inc. Defines New Regional Gold Prospects at Cisneros Project, Colombia |
CALGARY, ALBERTA--(Marketwire - Feb. 7, 2012) - Antioquia Gold Inc. ("Antioquia" or "the Company") (TSX VENTURE:AGD)(OTCQX:AGDXF) announces that the Company has defined two new gold prospects with its 2011 year end drilling program. Three (3) drill holes drilled at the end of the 2011 drilling program at the Bareno prospect, located 2 kilometers north of the Guayabito Deposit, tested the continuation of the Sur America artisanal mine to depth and along strike. Four (4) drill holes were drilled at the Los Planes prospect, located 4 kilometers to the southwest of the Guaico Deposit, to test a coincident geochemical, geophysical anomaly. Refer to Figure 1 for locations.
Significant results to report include:
-- 3.94 g/t Au over 3.8 meters at Bareno
-- 1.41 g/t Au over 1.8 meters at Bareno
-- 0.125 g/t Au over 8.5 meters at Los Planes
The Bareno and Los Planes prospect areas are two of several regional targets identified in 2011, first by airborne geophysics and subsequently with follow-up ground geophysics, geological mapping and trenching. These targets host structural frameworks and geochemical signatures similar to those at the Guayabito and Guaico deposits.
Bareno Prospect
The Sur America artisanal mine (sampling of old workings averaged 6.85 g/t Au over approx. 1 m, the highest grab sample being 76 g/t Au) is one of several favourable structures identified at the Bareno prospect. Drilling in 2011 was successful in extending the Sur America gold mineralization approximately 75 meters along strike and 100 meters to depth. The gold-bearing structure dips vertically east-west with associated geochemistry similar to the multiple zone Guayabito and Guaico deposits. The Company is encouraged by these similarities as it suggests excellent potential to continue to delineate the mineralization along strike and to depth and to define additional gold-bearing structures in the Bareno prospect area.
Los Planes Prospect
Similar to Bareno, the Los Planes prospect has favourable structures that can host gold mineralization. Although 2011 drilling at Los Planes did not intersect significant gold values, the associated geochemical signature at the Guayabito and Guaico deposits is present at Los Planes in drill hole LPL11-003 over an intercept of 8.5 meters. This geochemical signature is present over narrow widths in all drill holes drilled at Los Planes suggesting gold-bearing hydrothermal fluids penetrated the structures recognized there.
"The drilling at the Bareno and Los Planes prospects clearly demonstrates that the structural framework and subsequent gold-bearing hydrothermal system is not confined only to the Guayabito and Guaico areas of the Cisneros property. This is significant as it demonstrates the enormous potential for Cisneros to host numerous gold deposits"; commented Ian Fraser, Chief Geologist for Antioquia.
About Antioquia Gold Inc.
Antioquia Gold has been exploring for precious metals in Colombia since 2007. The Company has a land package of close to 40,000 hectares located throughout Colombia. Antioquia's principal asset, which is being actively explored, is its 5,630 hectare Cisneros Project, located 55 kilometers northeast of Medellin in the Department of Antioquia, Colombia. At the Cisneros Project the Company has conducted extensive geochemical and geophysical programs over the entire property and has identified to date six exploration targets. On the original discovery zone it has drilled over 30,000 meters and is well versed in the understanding of the deposit type and the project's path to resource definition and production.
To ensure reliable sample results Antioquia has a rigorous QA/QC program in place that monitors the chain of custody of the samples and includes the insertion of blanks, preparation duplicates, field duplicates, and certified reference standards in each batch of samples. Core is photographed and sawed in half with one half retained in a secured facility for future reference if needed. Sample preparation (crushing and pulverizing) is performed at either SGS or ACME laboratories in Medellin, Colombia.
Samples prepared by SGS (Medellin) are direct-shipped to SGS Laboratories in Lima, Peru or Toronto Canada, both ISO certified laboratories, for analysis. Samples prepared by ACME (Medellin) are direct shipped to ACME Laboratories in Vancouver Canada, also an ISO certified laboratory for analysis. Assay for gold is performed by fire assay with 30g charge and AAS finish, with a gravimetric finish for over limit samples.
This press release has been prepared under the supervision of Brad Van Den Bussche, P. Geol., Vice President of Exploration for Antioquia Gold Inc. and a Qualified Person as defined by National Instrument 43-101.
On behalf of Antioquia Gold, Richard Thibault, President & CEO
For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com.
You can also follow Antioquia Gold on twitter: @AntioquiaAGD
To receive Company news by email, contact info@antioquiagoldinc.com and mention "Antioquia Gold" news in the subject line.
Forward-Looking Statements: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, including, but not limited to, statements about the release of sample results in January 2012, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. There is no certainty that the Diamond drilling currently in progress will provide positive results of mineralization. For any forward-looking information given, Management has assumed that the results it has received and the interpretation thereof are reliable, and has applied metallurgical methodologies which are consistent with industry standards. Although Management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, the Corporation claim safe harbour for future releases. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
To view FIGURE 1 - REGIONAL PROSPECTS LOCATIONS IN COMPARISION TO THE KNOWN DEPOSITS AT THE CISNEROS PROJECT, please visit the following link: http://media3.marketwire.com/docs/AGDF7-F1.pdf.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. | |