Angel Gold Geophysical Survey Encounters Multiple Strong Chargeability Anomalies at Guayabales Prospect at the El Porvenir Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/27/17 -- Angel Gold Corp. (TSX VENTURE: ANG)(OTCQX: ANGCF) ("Angel" or the "Company") is pleased to provide an update on recent progress on Angel''s geophysical survey program at its Guayabales Prospect, the second of the three prospects surveyed at our El Porvenir project located in the Segovia Mining District of Antioquia, Colombia.
"The Induced polarization data gathered at Guayabales is continuing to support and enhance our belief that our El Porvenir Project has the potential to host conductive sulfide bodies that may contain gold and silver mineralization. Two kilometers away in the district, high-grade vein-hosted mineralization is being mined at the Gran Colombia gold mine (Segovia project). We also have identified a type of mineralization previously undocumented in the Segovia Mining District: that of quartz-sericite breccia-hosted silver-gold mineralization that is intrusive related" says Stella Frias, President and CEO of Angel Gold Corp. "The chargeability geophysical anomalies identified at Guayabales, are coincident with surface silver-gold breccia hosted mineralization as well as to zoned multi-element soil responses, supporting our belief that these geophysical anomalies may represent the presence of blind or semi-blind bodies of sulfide mineralization. We have already determined from surface work that sulfide mineralization is related to silver and gold mineralization," added James Stephenson P.Geo, Vice-President of Exploration.
HIGH CHARGEABILTY ANOMALIES
To view Figure 1, please follow this link:
Figure 1: Section 0+00NE showing response over known sulfide-silica breccia hosted mineralization, outcropping at 0+ 00 SE (grid origin), showing a relatively modest anomaly of 15 to 20mV/V. Note the open anomaly on the right-hand end of the line which correlates with the strong anomaly in the right of Figure 2 below.
To view Figure 2, please follow this link:
Figure 2: Provisional Section 2+00SW - (INCOMPLETE, with surveying of the right hand end of the line in progress at receipt of data of this incomplete section). The section shows a very low background of around 5mV/V, with anomalies in the right of section of over 20mV/V and the anomaly in the left of section to over 100mV/V. The left hand anomaly appears to correlate at depth with the shallower weaker mineralization encountered in Figure 1 above.
BROAD MODERATE CHARGEABILITY RESPONSE
To view Figure 3, please follow this link:
Figure 3: Provisional Section 2+00NE showing a broad zone of moderate chargeability (left half of section) possibly reflecting a disseminated sulfide halo around a mafic diorite body north of the section.
Conclusion
NOTE(1): The accompanying "pseudosection" is a non-"inverted" presentation of results. The survey was carried out with a pole-dipole configuration progressing from left to right in the section, and by its very nature the method presents a leftwards slant to the results. No correction inversion algorithm has been applied to show the "true" position of the anomaly. The interpretation is done by matching the observed geology to the IP results. Mineralized bodies are inferred to be irregular but overall sub-vertical in orientation
NOTE(2): A chargeability response indicating the presence of sulfides reflects the location of the sulfide-bearing body below the base of oxidation, and not the oxidized surface portion of the body. Thus for a dipping sulfide zone the chargeability anomaly will displace away from the oxidized surface exposure.
Qualified Person
Mr. James G. Burns, P. Eng., a Qualified Person under National Instrument 43-101 standards and a technical advisor to the Company has reviewed and approved the technical information contained in this news release.
About Angel Gold Corp.:
Angel is a Canada-based gold and silver exploration company focused on responsible development of mineral resources in Colombia, host to some of the world''s largest gold deposits. Angel''s flagship project the El Porvenir is located at less than 2 km from the Segovia project of Gran Colombia, the El Pino West Project is adjacent to the Gramalote project of B2Gold and Anglo Gold Ashanti JV and its Heliconia project is located north of the Titiribi District along the Cauca fault system.
Angel has been focused on acquiring and validating strategic mineral exploration opportunities in Colombia''s best mining districts with the highest potential for new discoveries.
On Behalf of the Board of Directors of Angel Gold Corp
Blanca Stella Frias, Director, President and Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain "forward- looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.
Contacts:
For investor relations, please contact:
Stella Frias
+1 (360) 650 1440
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Datum: 27.03.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 1494907
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