March 17, 2010, Calgary, Alberta: Antioquia Gold Inc. (TSX-V: AGD) ("AGD") is pleased to announce that it has begun a 10,000 meter Phase 2 drill program at its Cisneros Project in the Department of Antioquia, Colombia.
Antioquia's wholly owned subsidiary Antioquia Gold Ltd. has contracted Major Drilling Group International Inc. (TSX: MDI) through its wholly owned Colombian subsidiary MD Colombia S.A. collectively referred to as ("MDI"). MDI has agreed to supply a man portable drill to be mobilized on March 17 with drilling scheduled to commence on March 20, 2010.
A second drill is planned to begin the first week of May 2010. Over the next several months Antioquia plans to complete a total of 10,000 meters of core drilling.
The Cisneros Project is a structurally controlled lode gold type deposit. The mineralization is mainly confined within structures defined by shear zones and closely associated with quartz and sulphides. It has been demonstrated in the initial 4,000 meter drilling program that these structures attain significant widths and contain high grade gold as reported in the press releases of December 21, 2009 and January 25, 2010 and available on SEDAR or at www.antioquiagoldinc.com.
The Phase 2 objectives will be to:
Establish if there is continuity of the key mineralized structures identified at Guiaco and Guayabito in the initial 4,000 meter drilling program and quantify their size and potential,
Test ground geophysical anomalies and,
Test additional targets identified in artisanal mines and from surface exploration (specifically Chapulin, Nus and Mina Sur America)
AGD's aggressive plans also call for continued exploration on the remaining 5,000+ hectares of the Cisneros Project. AGD is currently conducting detailed soil sample grids (25 meter spacing) and is preparing survey lines for a 60 line-kilometer geophysics survey (ground magnetometer) scheduled to begin in April 2010, to delineate key structures, define continuity between these structures and develop new drill targets on the Cisneros Project.
About Antioquia Gold Inc.
AGD is a mineral exploration company focused on searching for precious metals and other mineral opportunities in Colombia. Its shares are listed on the TSX Venture stock exchange and its principal asset is the Cisneros Project.
Caution regarding forward looking information:
All statements in this press release that are not statements of historical fact are forward-looking statements. Forward-looking statements can be identified by the use of words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import. Forward-looking statements in this press release include statements about the Company's plans to begin drilling on March 20, to add a second drill during the first week of May, its plans to complete 10,000 meters of drilling over the next five to six months, and its plans, generally, with respect to continued exploration of the remaining 5,000+ hectares of the Cisneros Project. These forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results and achievements expressed or implied in these forward looking statements. These risks and uncertainties include, among other things, competition for qualified personnel and risks that are inherent in the Company's operations, including the risk that the Company may not find any minerals in commercially feasible quantity or raise funds sufficient to prosecute its exploration plans. These and other risks are described in the Company's periodic disclosure documents, which can be viewed at www.SEDAR.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made.
For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com or contact
Sheri Torske, Manager Investor Relations Antioquia Gold Inc. (403) 260-5383
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.