Antioquia Gold Achieves Positive Results from Phase 1 Drilling Program at Cisneros

Antioquia Gold Inc. ("Antioquia Gold") (TSX VENTURE:AGD)(OTCQX:AGDXF) has
completed Phase 1 of a planned 3-phase 20,000 metre diamond drilling program at
its flagship Cisneros Project in Colombia. 


Phase 1 commenced on April 26, 2012 and focused exclusively on the Guayabito
deposit. The program has resulted in expanding the length of known mineralized
structures along strike to approximately 300 meters and has confirmed continuity
to a depth of almost 500 meters, with all structures remaining open along strike
and depth. Significantly, several new mineralized structures were encountered
with excellent potential gold values. Plan and section views of the previous
structures and the 2012 extension are illustrated in Figures 1 and 2 attached
(or link to www.antioquiagoldinc.com for all figures).


To date, Antioquia Gold has received the results of 9 of 13 completed holes from
the 5,069 meters of Phase 1 drilling with positive gold values that reinforce
the significant dimensional increase of the Guayabito deposit. Values include
13.93 g/t Au over a length of 4.70 meters and 3.70 g/t Au over a length of 10.48
meters. Antioquia Gold expects to receive the results for the remaining 4 holes
in the next 2 to 3 weeks. Highlights of the results for the holes received to
date can be found in Table 1 below. 




Table 1 - Highlights of Phase 1 Drilling at Guayabito Deposit

---------------------------------------------------------------------------
Drill Hole                From             To  Length (m)(i)       Au (g/t)
---------------------------------------------------------------------------
GYB12-068                46.50          50.25           3.75           5.12
---------------------------------------------------------------------------
GYB12-068                55.15          59.85           4.70          13.92
---------------------------------------------------------------------------
including                57.10          59.85           2.75          21.26
---------------------------------------------------------------------------
GYB12-068               136.00         137.40           1.40          28.12
---------------------------------------------------------------------------
GYB12-068               183.80         185.50           1.70          13.58
---------------------------------------------------------------------------
GYB12-069               260.50         262.20           1.70           6.64
---------------------------------------------------------------------------
GYB12-070               261.85         263.20           1.35           9.45
---------------------------------------------------------------------------
GYB12-070               340.20         342.30           2.10           4.13
---------------------------------------------------------------------------
GYB12-070               430.00         433.80           3.80           6.30
---------------------------------------------------------------------------
GYB12-070               454.65         465.13          10.48           3.70
---------------------------------------------------------------------------
including               454.65         456.75           2.10           9.52
---------------------------------------------------------------------------
including               459.35         465.13           5.78           5.06
---------------------------------------------------------------------------
including               461.75         465.13           3.38           7.37
---------------------------------------------------------------------------
GYB12-070               517.80         519.40           1.60           8.94
---------------------------------------------------------------------------
GYB12-072               142.20         144.10           1.90           2.77
---------------------------------------------------------------------------
GYB12-073                78.95          80.65           1.70          11.55
---------------------------------------------------------------------------
GYB12-073               256.90         266.10           9.20           4.31
---------------------------------------------------------------------------
including               256.90         260.65           3.75           9.27
---------------------------------------------------------------------------
including               256.90         258.55           1.65          16.20
---------------------------------------------------------------------------

Notes: (i) Intervals reported are drilled thickness and may not represent
true width.
Drill holes GYB12-074, GYB12-075, GYB12-077 and GYB12-080 intersected the
intended structures, are geochemically anomalous, but low in Au. 
Four drill holes; GYB12-071, GYB12-076, GYB12-078 and GYB12-079 were
abandoned due to technical difficulties.




The 2012 Phase 1 drill results can be found on Antioquia Gold's website:
www.antioquiagoldinc.com.


As stated in the March 21, 2012 News Release, Antioquia Gold's 2012 drill
program is designed to add and delineate additional ounces of gold at the
Guayabito and Guaico deposits; expand and delineate the 2011 Papi/Ivana
discovery and conduct further work at the Chapulin, La Manuela, Soroma and
Chamuela structures (see Figure 3). 


Phase 2, consisting of approximately 5,000 meters of drilling divided equally
between the Guaico and Papi/Ivana targets, began June 26, 2012 with the
mobilization of a second drill.


"We are very satisfied with the work at Guayabito so far this year. Stepping out
and expanding the deposit, confirming continuity along strike and depth as well
as receiving a bonus of new mineralized structures with only 13 holes, is very
encouraging. Phase 3 drilling is currently being planned for the fall of 2012 to
expand Guayabito further," commented Ian Fraser, Chief Geologist. 


In addition to the 3-phase 20,000 meter drill program, Antioquia Gold continues
with its regional exploration program on the other 90% of the Cisneros property
with seven (7) new sectors identified at the beginning of 2012 and work on the
2011 targets, Bareno and Los Planes. This program is comprised of geological
mapping, prospecting, soil geochemical profiles and the possibility of
additional IP geophysical surveys. The Cisneros property, as evidenced by the
occurrence/location of the Guayabito and Guaico deposits, and Papi, Chapulin,
Soroma, La Manuela and Chamuela structures, has the potential to host multiple
gold deposits (refer to Figure 4). 


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 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 eleven (11) exploration zones. On the
original discovery zone it has drilled over 37,000 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 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 3000 ppb is then subject to a Metallic Assay.


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

For further information on Antioquia Gold Inc., visit our website at
www.antioquiagoldinc.com.


You can also follow Antioquia Gold 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, including,
but not limited to, statements about the seven additional regional exploration
zones adding significant exploration potential to the overall property, the
Company's plans for exploration in 2012, including the plans for 20,000m of
drilling, are forward-looking statements. Forward-looking statements are based
on management's 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 fund its
exploration plans. These and other risks are described in the Company's Annual
Information Form and other 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. 


To view the maps accompanying this press release please click on the following
link: http://media3.marketwire.com/docs/AntiFigs88.pdf
Antioquia Gold (TSXV:AGD)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024