November 7, 2011, Calgary, Alberta: Antioquia Gold Inc. ("Antioquia Gold") (TSX-V: AGD; OTCQX: AGDXF) announces that it continues to extend the Guayabito mineralized structures along strike as well as at depth. In addition, Antioquia Gold announces a new discovery at depth in drill hole GYB11-060 at Guayabito with 6.83 g/t Au over 5.1m encountered.
Some significant results to report are:
18.57 g/t Au over 3.0 meters, including 101.1 g/t Au over 0.55 meters
26.93 g/t Au over 1.6 meters, including 85.70 g/t Au over 0.50 meters
6.83 g/t Au over 5.10 meters, including 46.80 g/t Au over 0.7 meters
For reference, Figure 1 is included to provide the location of the Guayabito deposit in relation to the overall Cisneros Project and the other actively explored deposits that have been previously reported over the last two months. Figure 2 indicates the location of the nine (9) structures now identified at Guayabito. Table 1 below provides for a summary of the current results from the Guayabito deposit.
Antioquia Gold Inc. is currently in the process of defining an initial resource calculation for the Cisneros Project. The intercepts from the nine (9) drill holes contained in this press please represent the final drill holes completed at the Guayabito deposit in 2011. Combined with the eight (8) drill holes reported in the press release of September 21, 2011, a total of 6,017 meters were drilled at Guayabito in 2011. The results of these 17 drill holes, along with all other data from the 2009 and 2010 drilling and exploration campaigns, are currently being used by Moose Mountain Technical Services in calculating the resource for Guayabito.
Brad Van Den Bussche, VP Exploration explains, "The 2011 drilling program at Guayabito has enhanced our understanding of the deposit. We are pleased that additional drilling, like drill hole GYB11-060, resulted in new discoveries that expand the area. With more understanding of the Cisneros Project, such as the Guayabito deposit along with the continued intersection of mineralized areas, it increases the database that can be used in the ongoing process of developing a resource definition".
About Antioquia Gold Inc. Antioquia has been exploring for precious metals in Colombia since 2007. The Company has a land package of close to 40,000 hectares located throughout Colombia. Antioquia'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 six exploration targets. On the original discovery zone it has drilled over 30,000 meters and is well versed in the understanding of the deposit type and the project's path to resource definition and first stage production.
The Table below reflects highlights of the final eight (8) 2011 drill holes at Guayabito.
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 either SGS or ACME laboratories in Medellin, Colombia.
Samples prepared by SGS (Medellin) are direct-shipped to SGS Laboratories in Lima, Peru or Toronto Canada, both ISO certified laboratories, for analysis. Samples prepared by ACME (Medellin) are direct shipped to ACME Laboratories in Vancouver Canada, also an ISO certified laboratory for analysis. Assay for gold is performed by fire assay with 30g charge and AAS finish, with a gravimetric finish for over limit samples.
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.
On behalf of Antioquia Gold,
Richard Thibault, President
For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com or contact:
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Neither the 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.
Forward-Looking Statements: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. There is no certainty that the diamond drilling currently in progress will provide positive results of mineralization. For any forward-looking information given, Management has assumed that the results it has received and the interpretation thereof are reliable, and has applied metallurgical methodologies which are consistent with industry standards. Although Management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, the Corporation claim safe harbour for future releases. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Figure 1 Cisneros Project - current Exploration and Drilling Areas, including Guyabito Deposit
Figure 2 Cisneros Project - Mineralized Structures at Guayabito Deposit