| September 12, 2011 |
| Antioquia Gold Inc. Continues to Expand the Cisneros Project in Colombia with the Discovery of Five New Vein Systems |
CALGARY, ALBERTA--(Marketwire - Sept. 12, 2011) - Antioquia Gold Inc. ("Antioquia" or "the Company") (TSX VENTURE:AGD)(OTCQX:AGDXF) is pleased to announce that the Company has expanded the Chapulin-Manuela prospect at the Cisneros Project with the discovery of five (5) new gold bearing veins within what the company is calling the Chamuela and Soroma structures (refer to figures 1&2). The veins are located between the previously described Chapulin and Manuela prospect areas. Eight (8) widely spaced drill holes amounting to 1771.2 m of drilling resulted in the discovery of these new vein systems. Highlights from two of the holes are 12.8 g/t Au over 1.7 m and 8.25 g/t Au over 1.5 m. The Chamuela and Soroma drill results can be found below in Table 1.
The Chamuela and Soroma discoveries are significant as they are indicative of multiple en-echelon, north-northeast striking, steeply dipping gold-bearing structures within the Chapulin-Manuela prospect area. The discoveries compliment the previous discoveries made at the Chapulin, Manuela and Guaico structures; 130 m west, 180 m north-northeast and 250 m east respectively (see Figure 2). The discoveries made at the Chamuela structures in drill holes CHM11-001 through CHM11-006 are over a strike length of 150 m, the individual veins and host structures are continuous, geochemically distinct over this strike length and all remain open along strike, to depth and down plunge.
Drill holes SRM11-001 and SRM11-002 were designed to test along strike and below the Soroma artisanal mine. The Soroma structure remains open along strike and to depth.
"The discovery of these new vein structures in the Chapulin - Manuela prospect is encouraging to the Antioquia Team in that we are establishing a sufficient size potential to have the confidence to bring into operation our planned exploration tunnel to establish grade, conduct metallurgy results, calculate resources and move toward a production scenario in the not too distant future," commented Rick Thibault, President and CEO of Antioquia.
Exploration Update
Exploration continued aggressively at Cisneros during the month of August.
At the end of August the originally contracted 15,000m for 2011 was completed. This brings the total meters drilled at Cisneros, in just under two years to over 29,000m in 140 drill holes. On August 25 one of the two drills was released. The remaining drill rig will continue drilling until November 25, 2011, by testing 2 of the 6 regional targets identified in the Cisneros project area, plus it will be available for additional drilling needs identified during the compilation of the geology model and resource calculation for the Guayabito and the various prospects in the Chapulin - Manuela area.
For the current 15,000m program over 6850 samples were collected from 65 holes. Results have been reported from about 55% of the samples. Sample results delays of up to 10 weeks have been reported.
Surface work continued on the regional target areas of Barreno and Los Planes with trenching and structural mapping to define drill targets (refer to press release of July 21, 2011). A LIDAR topographic survey has been initiated over the entire Cisneros property with the results expected by the end of September.
The newly constructed core storage and working facility at Cisneros, on land purchased by the Company, has been opened and the drill core and pulps from the warehouse in Medellin have transferred to it. The facility now centralizes all storage, logging, photography, core cutting and sampling at one secure location.
Work continues on the exploration tunnel designs and implementation and also the internal scoping study for a 350 - 500 tonnes per day underground gold operation.
About Antioquia Gold Inc.
Antioquia 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 29,000 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
For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com.
You can also follow Antioquia Gold Inc. 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, 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 Cisneros Project - Current Exploration Drilling Areas, please visit the following link: http://media3.marketwire.com/docs/Figure1_CisnerosProject.pdf.
To view Figure 2 Cisneros Project - New Structures at Chapulin-Manuela Area, please visit the following link: http://media3.marketwire.com/docs/Figure2_CisnerosProject.pdf.
Table 1 - Select results of Drilling Results
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Drill Hole From To Length(m)(i) Au (g/t) Ag (g/t) Cu %
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CHM11-001 60.1 61.8 1.7 1.10
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CHM11-001 261.6 274.0 12.4 1.46
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including 261.6 262.7 1.1 12.70
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CHM11-002 67.0 68.7 1.7 12.77
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including 67.5 68.2 0.7 31.00
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CHM11-002 95.8 97.65 1.85 1.40 14.49 1.04
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CHM11-003 126.2 129.4 3.3 3.94
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including 127.9 129.4 1.5 8.25
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including 128.4 128.9 0.5 24.70
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No significant
CHM11-004 results
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No significant
CHM11-005 results
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No significant
CHM11-006 results
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SRM11-001 99.7 101.85 2.15 4.62
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including 99.7 100.3 0.6 12.00
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SRM11-001 110.6 111.8 1.2 5.25
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SRM11-002 Assays Pending
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(i)Intervals reported are drilled thickness and may not be true width.
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. | |