News Feed Item

Aegean Provides Market Update on Chilean Exploration Projects

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/12/14 -- Aegean Metals Group Inc. (TSX VENTURE:AGN)(FRANKFURT:A91) ("Aegean" or the "Company") is pleased to provide the following update on exploration activities at its 100%-owned Dona Ines and Exploradora East prospects in northern Chile's Region III. The Dona Ines property is located within an underexplored epithermal gold-silver belt that extends northwards from the Maricunga belt to the Peruvian border, where Gold Fields Limited ("Gold Fields") made the Salares Norte gold-silver discovery. The Exploradora East prospect is located approximately 10 km north-northwest of Dona Ines, but lies within one of Chile's most productive porphyry copper belts that include the nearby El Salvador mining operations owned by the Corporacion Nacional del Cobre de Chile ("Codelco").

"Aegean's staking of the Dona Ines and Exploradora East properties in early 2014 was the direct result of a regional target generation program focused on the discovery of covered epithermal gold and porphyry copper deposits in Chile's most prospective mineral belts," commented Eric Roth, Aegean's President & CEO. "Strong precious metals anomalies have been identified on surface at the Dona Ines property, which we now plan to follow-up with ground geophysics and drill testing in short order. At Exploradora East, prominent base metal anomalies have been identified on surface and suggest potential for porphyry style mineralization underlying ignimbrite cover. Separately, we are also pleased to be progressing with the application for the listing of our shares on the Bolsa de Valores de Santiago ("Santiago Stock Exchange"), which will complement our TSX.V and Frankfurt listings and provide Chilean investors with the opportunity to acquire Aegean shares through a local exchange."

Dona Ines Gold-Silver Prospect

The Dona Ines prospect is located approximately 190 km NE of the city of Copiapo in Chile's Region III, within an underexplored, predominantly Miocene-age volcanic arc and epithermal gold-silver belt that extends from the northern margin of the Maricunga District to the Peruvian border. Recent discoveries in this belt include Gold Fields Salares Norte project (May 2014 Inferred Resource of 23.3 Mt @ 4.2 g/t Au and 44 g/t Ag, for 3.1 Moz Au and 34 Moz Ag) and Pircas prospect (oxidized high sulfidation epithermal system), which are located approximately 20 km E and 22 km SE of Dona Ines, respectively. The Dona Ines prospect is covered by 3,300 Ha of exploration concessions that are 100% controlled by Aegean's Chilean subsidiary, Minera AMG Chile Limitada ("AMG Chile").

As the Dona Ines property is covered by a thin layer of post-mineralization cover, field work has initially focused on partial leach extraction (Mobile Metal Ion, or MMI) geochemistry. The MMI samples were taken on a 200 m x 200 m grid, and were routinely analyzed for the elements Au, Ag, Cu, Mo, Ba, As, Sb & Hg. Results obtained from the MMI sampling have defined a strongly anomalous Au-Ag-As-Mo metal association at Dona Ines, together with relatively weaker Cu-Ba anomalies. The response ratios calculated for both Au and Ag are exceptionally high (310 and 35, respectively), and suggest derivation from a source with elevated gold and silver values. The central gold anomaly also occurs within a zone of argillic alteration, and represents a priority area for further work.

Future work at Dona Ines will focus on the targeting of a buried high sulfidation epithermal system using a combination of geophysical techniques, including IP (dipole-dipole) and ground magnetic surveys. Drilling will then be undertaken on combined geophysical and geochemical anomalies on a strictly priority basis.

Exploradora East Prospect

The Exploradora East prospect is located approximately 10 km NNW of the Dona Ines prospect, along the eastern margin of Chile's Eocene-Oligocene porphyry copper belt. The Exploradora East prospect is covered by 4,300 Ha of exploration concession that are 100% controlled by Aegean's Chilean subsidiary, AMG Chile.

As the Exploradora East property is completely covered by a post-mineralization ignimbrite/tuff sequence of probable Quaternary-age, initial field work has focused on partial leach extraction geochemistry. The MMI results indicate a Cu-Mo-Au-Ag dominant geochemical signature at Exploradora East. In addition, the prominent NE-SW trend of the Cu, Mo, and to a lesser extent Au and Ag anomalies, appears to suggest a strong NE-trending structural control within the area. However, the response ratios observed for Cu, Mo and Au are relatively modest (up to 15, 95, and 248, respectively), and are suggestive of attenuation by the post-mineralization ignimbrite cover. Full results from the MMI sampling at Exploradora East are available at http://www.aegeanmetalsgroup.com/projects/exploradora_east/.

Future work at Exploradora East will focus on the targeting of a buried porphyry copper system using a combination of ground geophysical techniques, including IP and magnetic surveys, to identify drill targets.

Vicuna-Llareta Prospect, Chile

On February 28, 2014, Aegean announced the signing a binding Letter of Intent with a Chilean vendor to acquire a 100% interest in the Vicuna-Llareta prospect in northern Chile. After completion of the Due Diligence phase, Aegean has decided to not proceed with the signing of the Definitive Agreement and has formally advised the vendor accordingly. No further work will be undertaken at Vicuna-Llareta.

Santiago Stock Exchange Listing

Aegean is also pleased to announce that it has applied to have its common shares listed on the new Santiago Stock Exchange, Venture. On March 3, 2014, the Santiago Stock Exchange and the TSX Venture Exchange ("TSX.V") entered into an agreement that will lead to the creation of a new venture exchange of the Santiago Stock Exchange, the Santiago Stock Exchange, Venture. Aegean's Santiago Stock Exchange listing will complement its existing TSX.V and Frankfurt listings by providing Chilean investors with the opportunity to acquire Aegean's shares on a local exchange.

Chile Explore Report

Finally, Aegean is pleased to announce that President & CEO, Eric Roth, was featured in the August issue of the Chile Explore Report. The full article is available on the Company's website at http://aegeanmetalsgroup.com/investors/media/.

About Aegean Metals Group Inc.

Aegean Metals Group Inc. (TSX VENTURE:AGN) is a Canadian junior exploration company focused on the acquisition, exploration and development of high grade gold, copper and polymetallic deposits in favourable jurisdictions that have the potential to become operating mines with strong cash flows. The Company currently holds two projects in Turkey: the recently optioned Hot Maden gold and base metal prospect in northeast Turkey and the Ergama high sulfidation epithermal gold prospect in western Turkey, where Aegean will ultimately retain a 49% interest upon completion of Teck Resources' back-in expenditure commitments. In northern Chile, the Company also recently staked two new exploration prospects, the Dona Ines gold-silver property and the Exploradora East prospect. For more details on the Company, please visit www.aegeanmetalsgroup.com.

Qualified Person's Statement

The information presented in this press release has been reviewed by Eric Roth, President & CEO of Aegean Metals Group Inc, and is considered to be in compliance with NI 43-101 reporting guidelines. Mr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists (SEG). Mr. Roth has 25 years of experience in international minerals exploration and mining project evaluation.

Forward-Looking Statement

This news release includes certain "forward-looking information" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company contain forward-looking information that involves various degrees of risk. Forward-looking information reflects management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking information are reasonable, such information and statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking information. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking information: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied to develop this forward-looking information as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law.

Neither 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.

To view the images accompanying this press release, please visit the following link: http://media3.marketwire.com/docs/962123.pdf

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.