Guaico 4.4m @16.6 g/t gold (Au), including 1.0m @ 61.8 g/t Au Nus 11.2m @ 5.4 g/t Au, including 1.6 m @ 16.7 g/t Au Guayabito 37.2m @ 4.5 g/t Au , including, 7.25m @ 9.27 g/t Au & 1.1m @ 40 g/t Au
June 14, 2010, Calgary, Alberta: Antioquia Gold Inc. (TSX-V: AGD) is pleased to announce additional drill results from 21 new exploration holes at the Company's flagship Cisneros gold project in Colombia.
Twenty new holes were drilled on the Guaico-Nus Prospect area, and targeted both the north-south trending Guaico structure and the east-west trending Nus structure (see figures 1 & 2).
Brad Van Den Bussche, P.Geol., the Company's Vice-President of Exploration said: "These drilling results have increased our confidence in these two structures by confirming the high-grade potential of the north-south trending Guaico structure and the 10 metre-plus width of the mineralized east-west trending Nus structure. Most importantly, both structures can be traced over significant distances along strike and to depth."
The drill results are tabulated in Table 1 below and feature the following drill intercepts:
Guaico structure - up to 4.4 metres @ 16.6 g/t Au, including 1.0 metres @ 61.8g/t Au; and
Nus structure - up to 24 metres @ 2.6 g/t Au, including 11.2 metres @ 5.4g/t Au and 1.6 metres @ 16.7 g/t Au.
Guaico Structure The Company has drilled 12 intercepts in the Guaico structure (8 new and 4 previous holes from the 2009 drill program) over a strike length of 200 metres and to a vertical depth of 120 metres. The structure is open to depth and to the north. Two artisanal mines have extracted gold from high-grade quartz veins that follow this structure (refer to figure 1).
The Guaico structure ranges from an estimated 0.4 metres to 3.3 metres in true thickness. Characteristics of the structural zone include mylonite with multiple quartz veins containing disseminated sulphides. Gold is closely associated with the sulphides.
Nus Structure Antioquia Gold has drilled 14 intercepts in the Nus structure (10 new drill holes and 4 drill holes from the 2009 drill program) over a strike length of about 450 metres and to a vertical depth from surface of 100 metres. The Nus structure remains open at depth and along strike, to both the east and the west. In addition, Antioquia Gold has surface channel samples (Trapiche Channel) within the Nus structure, with values up to 8 g/t Au, located 500 metres east of the current drilling program, for a total defined strike length of about 950 metres (see figure 1).
The Nus structure is typically a broad breccia zone characterized by an abundance of quartz, carbonates, chlorite and sericite. Mineralization consists of veins of quartz, chalcopyrite, pyrite, malachite, and molybdenite that cut the breccia zone, with gold closely associated with the sulphides. The estimated true thickness of the Nus structure ranges from 7.4 metres to 18.8 metres in drill holes to date. Figure 2 is a vertical section through the Nus structure showing drill holes PC10-17 and PC10-18.
Figure 1: Guaico and Nus Structures at Cisneros
Figure 2: Vertical Section Looking East Through the Nus Structure
Geology Expert Retained Antioquia Gold has retained the services of Robert (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 the Company's exploration team.
New Structural Interpretation Provides Better Targeting Parameters A new structural interpretation of the Nus structure, provided by Bob Casaceli suggests that the Nus structure has acted as a left-lateral strike-slip fault that has locally created en echelon dilational jogs with maximum extension having been developed along secondary north-south faults, such as the Guaico structure, where attendant low-pressure zones favoured 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. This interpretation also provides better targeting parameters for ongoing exploration.
Guayabito Initial Results On June 10, Antioquia Gold received results from the first drill hole (PC10-21) in the Guayabito area, the second major area of focus in the 2010 drilling campaign. Guayabito is located approximately 1.5 kilometres northeast of the Guaico-Nus Prospect area. Initial results support the continuing presence of high-grade gold values in multiple structures over significant drill intersections.
The highlight of the drill hole is a drilled intercept of 37.2 metres at 4.5 g/t Au, including 5.3 metres at 9.0 g/t Au, 7.8 metres at 5.9 g/t Au and 7.3 metres at 9.3 g/t Au (see Table 2). Drilling of the Guayabito prospect area is continuing, with a focus on tracing sets of mineralized structures to both the northeast and northwest.
Antioquia Gold Inc. Antioquia Gold 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.
Qualified Person 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.
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Table 1: Select Drill Hole Intercepts (interval reported is drilled thickness):