|By Marketwired .||
|November 29, 2012 09:37 AM EST||
CALGARY, ALBERTA -- (Marketwire) -- 11/29/12 -- Antioquia Gold Inc. ("Antioquia Gold" or the "Company") (TSX VENTURE:AGD)(OTCQX:AGDXF) is pleased to announce all final drill hole results have been received thus completing the 2012 Drilling Program at its flagship Cisneros Project in Colombia. The Company is currently compiling, interpreting and modeling the results of the program to be used in the preparation of an NI 43-101 compliant resource report and an accompanying Preliminary Economic Assessment ("PEA"). It is anticipated that both reports will be released in the first part of 2013.
2012 Drilling Highlights:
-- Drilling at the Guaico deposit extended high grade mineralization to a vertical depth of 400 metres. -- Drilling at the Guayabito deposit successfully extended the strike length an additional 150 metres to the north and to a vertical depth of 500 metres. -- Both deposits consist of multiple en-echelon vein systems and both deposits remain open along strike and to depth. -- In all, forty-six (46) holes were completed amounting to 13,111 metres of drilling, including ten (10) drill holes (2.434 m) at the Papi / Ivana prospect.
Guaico Deposit Final Results:
Drill hole GCO12-036 intersected 8.7 metres of 8.2 g/t Au including 2.6 metres of 26.9 g/t Au and has confirmed high-grade gold mineralization at Guaico to a vertical depth of 400 metres. This mineralization is seventy (70) metres vertically below previously announced drill result from drill hole GCO12-029 which included 6.6 metres of 10.2 g/t Au including 1.8 metres of 33.2 g/t Au (See Press Release dated September 27, 2012). The mineralization defined above is a new discovery made in 2012 and confirms additional mineralized en-echelon vein systems occurring in the footwall and at depth relative to the original Guaico discovery. Highlights of drill results for the final five (5) drill holes drilled at Guaico in 2012 can be found in Table 1 below. The 2012 drill hole locations are illustrated in Figure 1 and a Section view illustrating results of drill hole GCO12-036 and previously released GCO12-029 (Figure 2) are attached and can be found on the company's website; link to www.antioquiagoldinc.com.
Table-1 Highlights of Final Drill Hole Results; Guaico Deposit
Drill Hole From To Length (m)(i) Au (g/t) GCO12-033 69.5 70.8 1.3 2.5 GCO12-033 164.5 166.0 1.5 5.8 GCO12-035 85.5 86.8 1.3 2.6 GCO12-035 121.9 126.5 4.6 1.1 including 125.5 126.5 1.0 3.4 GCO12-036 259.2 260.7 1.5 2.9 GCO12-036 390.2 398.9 8.7 8.2 including 395.5 398.1 2.6 27.0 GCO12-036 525.5 527.0 1.5 1.7 Note: (i) Intervals reported are drilled thickness and may not represent true width. Drill holes GCO12-032 and GCO12-034 intersected the intended alteration envelopes but did not intersect significant mineralization.
Guayabito Deposit Final Results:
The final four (4) drill holes at Guayabito were designed to extend the Guayabito deposit further to the north along strike and to depth. All four (4) drill holes intersected the intended mineralization. Drill hole GYB12-086 intersected 6.2 metres of 6.3 g/t Au including 2.5 metres of 15.0 g/t Au. Results of the final four drill holes at Guayabito confirm the deposit extends to the north and to depth and remains open further along strike to the north and to depth. Highlights of the final four drill holes at Guayabito are listed in Table 2 below and all 2012 drill hole locations are illustrated in Figure 3.
Table-2 Highlights of Final Drill Hole Results; Guayabito Deposit
Drill Hole From To Length (m)(i) Au (g/t) GYB12-085 99.3 100.4 1.1 4.4 GYB12-085 238.6 240.1 1.5 6.9 GYB12-086 180.8 187.0 6.2 6.3 including 180.8 183.3 2.5 15.0 GYB12-086 196.4 198.2 1.8 6.9 GYB12-087 125.4 127.3 1.9 2.2 GYB12-088 289.0 296.8 7.8 3.9 including 289.0 292.3 3.3 9.0 Note: (i) Intervals reported are drilled thickness and may not represent true width.
"The 2012 drilling program at Cisneros has been very successful" comments Rick Thibault, President and CEO; "We have greatly increased our knowledge base of the Guayabito and Guaico deposits and are extremely encouraged with the improving grade with depth at Guaico. We have been able to significantly increase the overall size of these deposits through effective drilling along strike and to depth".
About Antioquia Gold Inc.
Antioquia Gold has been exploring for precious metals in Colombia since 2007 and has accumulated a land package of close to 40,000 hectares located throughout Colombia. Antioquia Gold's principal asset, which is being actively explored, is its 5,630 hectare Cisneros Project, located 55 kilometres 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 eleven (11) exploration zones. On the original discovery zone it has drilled over 43,000 metres 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 Gold 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 ACME laboratories in Medellin, Colombia. Samples prepared by ACME (Medellin) are direct shipped to ACME Laboratories in Vancouver Canada, an ISO certified laboratory for analysis. Assay for gold (36 elements) is performed initially by 1Dx30g Agua Regia Digestion. Au values greater than 100,000 ppb are automatically checked by Gravimetric finish and Antioquia Gold further checks all assay values greater than or equal to 10,000 ppb by Metallic Assay. Furthermore, as part of the QA/QC program, Antioquia Gold has sent to SGS laboratory in Medellin Colombia batches of pulp samples for check Fire Assay's.
This press release has been prepared under the supervision of Ian Fraser, P. Geol., Chief Geologist for Antioquia Gold Inc. and a Qualified Person as defined by National Instrument 43-101.
On behalf of Antioquia Gold Inc.
Richard Thibault, President & CEO
You can also follow Antioquia Gold on twitter: @AntioquiaAGD.
To receive Company news by email, contact [email protected] and mention "Antioquia Gold" news in the subject line.
This news release contains certain forward-looking statements, including any plans regarding the preparation and timing of a National Instrument 43-101 compliant resource report and accompanying PEA. Forward-looking statements are based on management's current assumptions and are subject to risks and uncertainties. There can be no assurance that any forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information due to a number of factors beyond the Company's control. These assumptions, risks and uncertainties include, among other things, management's assumptions about government permitting, equipment procurement and the availability of the necessary consultants and capital, as well as the risks of delay in any of these activities and the risks inherent in Antioquia Gold's operations, including the risks that the Company may not find any minerals in commercially feasible quantity or raise enough money to continue to fund its exploration plans. These and other risks are described in the Company's public disclosure documents filed on the SEDAR website maintained by the Canadian Securities Administrators. The Company does not undertake to update any forward-looking information except as may be required by applicable securities laws.
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.
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