August 9, 2010, Calgary, Alberta: Antioquia Gold Inc. (TSX-V: AGD) Antioquia is pleased to announce continued success of the drilling program and the latest drill results from 11 holes on its Guayabito Prospect at the Cisneros Gold project in Colombia.
Highlights of this report include drill hole PC10-26 encountering 5.1 meters at 9.3 g/t gold, including 1.0 m at 39.0 g/t gold and PC10-24 encountering 25.9 meters at 1.6 g/t gold including 0.30m at 28.8 g/t gold and 0.6 meters at 17.3 g/t gold.
The objectives of the 2010 Guayabito drilling program were to follow high grade mineralized structures to the northwest and northeast that were identified in the 2009 drilling program, surface and underground mapping and geophysics. The drilling program has been very successful in encountering numerous mineralized structures that are interpreted to be part of a significant dilational jog feature that have the potential at the intersections to produce low-pressure zones that favored fluid injection and subsequent gold deposition.
Antioquia has now drilled 22 holes in the Guayabito prospect, with 17 drill holes from the 2010 drill program and 5 drill holes from the 2009 drill program. Results from the 5 drill holes in the Guayabito area during 2009 can be found in the press release dated January 23, 2010. On June 17, 2010 a press release reported the first hole from the 2010 drill program. All press releases can be found at www.antioquiagoldinc.com or on SEDAR.com. There are 5 drill holes with results pending from SGS Laboratory, an independent lab located in Lima, Peru.
The Guayabito prospect drilling covers an area of 8 hectares (200m in a north-south direction, 400m in an east-west direction), and has been drilled to a depth of up to 350m, remains open to depth as well as to the north and east. All 17 reported holes have encountered structures with anomalous gold values, including 8 of the latest 11 drill holes encountering structures with significant gold values (refer to attached table).
Mineralization consists of quartz, chalcopyrite, and pyrite that cut the breccia zone. Gold is closely associated with sulphides. Brad Van Den Bussche, VP Exploration states, "The geology team is currently working very hard at developing and interpreting the 3D model for this area and correlating the structures within this exciting zone. This interpretation will form the basis for building resources in this area, one of many targets on the overall Cisneros Project".
Drilling has continued to validate the model and structural interpretation provided by Bob Casaceli. He suggests that the east-west driving structures have acted as left-lateral strike-slip faults that have locally created en echelon dilational jogs with maximum extension having been developed along secondary north-south faults, such as the structures currently being drilled at Guayabito, where attendant low-pressure zones favored fluid injection and subsequent gold deposition. This interpretation explains why higher gold grades at Cisneros tend to occur along north-south faults, and along east-west faults near intersections with north-south faults.
Antioquia Gold Inc.
Antioquia is a Calgary-based mineral exploration company, focused on searching out precious metals and other opportunities in Colombia. The Company's flagship property is the Cisneros project, located 70 kilometres northeast of Medellin in the Department of Antioquia in Colombia.
Antioquia has retained the services of Bob Casaceli, a highly respected geologist from Reno, Nevada. His Spanish fluency and 35+ years of experience with gold systems like Cisneros significantly elevates the expertise of AGD's exploration team.
This press release has been prepared under the supervision of Brad Van Den Bussche, P. Geol., Vice President of Exploration for Antioquia Gold Inc. and a Qualified Person as defined by National Instrument 43-101.
Caution regarding forward-looking information:
This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Antioquia Gold Inc. to be materially different from actual future results and achievements expressed or implied by such forward-looking statements. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Antioquia Gold Inc. and its management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Readers are also advised to consider such forward-looking statements while considering the risks involved.
For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com or contact,
Sheri Torske, Manager, Investor Relations (403) 260-5383 Email: email@example.com
Rick Thibault, President & CEO (484) 319-7807 Email: firstname.lastname@example.org
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Select drill hole intercepts are reported below (interval reported is drilled thickness):