Welcome!

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 Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
"Tintri focuses on the Ops side of the DevOps, which basically is pushing more and more of the accessibility of the infrastructure to the developers and trying to get behind the scenes," explained Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We do one of the best file systems in the world. We learned how to deal with Big Data many years ago and we implemented this knowledge into our software," explained Jakub Ratajczak, Business Development Manager at MooseFS, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"Our strategy is to focus on the hyperscale providers - AWS, Azure, and Google. Over the last year we saw that a lot of developers need to learn how to do their job in the cloud and we see this DevOps movement that we are catering to with our content," stated Alessandro Fasan, Head of Global Sales at Cloud Academy, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business - from apparel to energy - is being rewritten by software. From planning to development to management to security, CA creates software that fuels transformation for companies in the applic...
SYS-CON Events announced today that TMC has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo and Big Data at Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Global buyers rely on TMC’s content-driven marketplaces to make purchase decisions and navigate markets. Learn how we can help you reach your marketing goals.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo Silicon Valley which will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. "DevOps is at the intersection of technology and business-optimizing tools, organizations and processes to bring measurable improvements in productivity and profitability," said Aruna Ravichandran, vice president, DevOps product and solutions marketing...
Managing mission-critical SAP systems and landscapes has never been easy. Add public cloud with its myriad of powerful cloud native services and this may not change any time soon. Public cloud offers exciting new possibilities for enterprise workloads. But to make use of these possibilities and capabilities, IT teams need to re-think everything they have done before. Otherwise, they will just end up using public cloud as a hosting platform for their workloads, aka known as “lift and shift.”