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Antioquia Gold Inc. (TSX VENTURE:AGD - News) is pleased to announce
the results of the IP (Induced Polarization) ground geophysical survey
completed on the Company's flagship Cisneros property, located in Antioquia,
Colombia.
As previously announced the Company
contracted Jose Arce Geophysics from Lima, Peru to
conduct an IP ground geophysical survey which consisted of two grids. The
first grid comprised 13.5 line kilometres in 11
east-west lines designed to delineate the Bolo and Guayabito
structures to the north and to identify additional parallel mineralized
structures in the Guayabito area. The second grid
comprised 9.8 kilometres in 7 east-west lines to
map mineralized structures in the Guaico - Nus - Manuela - Chapulin areas
(Figure 1).
"The success of this type of
geophysical survey at the Parcoy Mine in Peru
(owned by Consorcio Minero
Horizonte, an associated company of Antioquia's Strategic Partner, Desafio Minero S.A.C.) was the
deciding factor to implement here", stated Vice President of
Exploration, Brad Van Den Bussche. "The Parcoy Mine appears to be geologically analogous to
Antioquia's Cisneros deposit and produces over 180,000 ounces of gold per
year."
The field work was conducted in
September and October 2010 and the data was subsequently subjected to 2D and
3D processing and modelling. Ultimately a map was
produced for each area (Figures 2 and 3) showing interpreted geophysical
structures with responses often indicative of sulphides,
which in Cisneros are associated with gold. In total more than 20 target
structures have been identified from surface to approximately 300 meters
vertically in the two grid areas, with interpreted strike lengths of up to
600 meters.
The Guayabito
prospect area, the main focus of exploration to date and where the Company is
currently drilling up a resource base, is represented by a single point
target anomaly on line LG-3 (refer to Figure 2). This opens up a tremendous
amount of new exploration targets, many of which could have greater potential
than the current Guayabito target. The exploration
team is very encouraged and optimistic of the potential that the IP ground
geophysical surveys have identified at Cisneros. The surveys completed to
date represent less than 5% of the total land package of 5,630 hectares at
Cisneros, thus, this method of exploration could provide the Company with a
multitude of additional mineral targets.
Part of the current drilling program is
dedicated to proving up an interpreted mineralized structure to the east of Guayabito. Drilling is ongoing and results are expected
to be available by year end. Additional work is in progress correlating the
new IP data with the extensive ground magnetometer and geochemistry data that
exists at Cisneros to further define and prioritise
these structures and drill targets.
Antioquia Gold Inc.
Antioquia is a precious metal exploration
company with projects in Colombia since 2007. Antioquia's principal asset,
which is being actively explored, is its Cisneros Project, located 70
kilometers northeast of Medellin in the Department of Antioquia, Colombia. At
the Cisneros Project the Company has drilled over 11,000 meters, conducted
extensive geophysical programs and is well versed in the understanding of the
deposit type and the project's path to production. The Cisneros Project
consists of 5,630 hectares and forms the nucleus of the company's 37,500
hectare land package located throughout Colombia.
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.
Caution regarding forward-looking
information:
This press release may contain
forward-looking statements. Such forward-looking statements involve a number
of known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of Antioquia Gold Inc. to be
materially different from actual future results and achievements expressed or
implied by such forward-looking statements. Actual results can differ
materially from those anticipated by management at the time of writing due to
many factors, the majority of which are beyond the control of Antioquia Gold
Inc. and its management. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date the
statements were made. Readers are also advised to consider such
forward-looking statements while considering the risks involved.
For further information on Antioquia
Gold Inc., visit our website at www.antioquiagoldinc.com.
To receive Company news by email,
contact holly@chfir.com and mention
"Antioquia Gold" news in the subject line.
To view the figures included with this
release, please visit the following link: http://media3.marketwire.com/docs/agd121figs.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.
Contact:
Rick Thibault
Antioquia Gold Inc.
President
403-457-GOLD
rthibault@antioquiagoldinc.com |