March 18, 2016 – Calgary, Alberta: Antioquia Gold Inc. (“Antioquia” or the “Company”) (TSXV: “AGD”) is pleased to provide an update on progress at its Cisneros Project in Colombia as of March 16, 2016. The following is a summary of additional milestones that have been achieved at the Guaico deposit:
– Main tunnel development (cross section 4.5 m wide by 4.5m high) continues to progress well. Total length of the tunnel is now more than 210.7 m at an average grade of -13% and has reached an elevation of 1,252.5 , some 22m below the elevation of the portal entrance;
– The main Guaico vein structure was intersected at ~135m and an elevation of 1,260; the vein averaged 1.2m in width with some areas up to 1.5m wide. The vein structured has been surveyed and geologically and geotechnically mapped. The vein footwall/hangingwall contacts are unaltered and in good condition geomechanically;
– The vein structure is brecciated and strongly mineralized with pyrite and chalcopyrite; gangue minerals include quartz and some carbonates; also rock fragments were observed in the altered and mineralized structure. A total of six samples were taken across an average true thickness of 1.02m. The weighted average for these samples was 63.2 g/t Au. Diamond drill hole PC10-01 had intersected the vein 5m above the tunnel and assayed 61.8 g/t Au. These values should be treated with caution as the grade of the ore mined from this area would be somewhat lower because of dilution and blending. As development continues underground in-fill diamond drilling is planned to firm up the mining resources.
– The electrical infrastructure on site is now complete including the main transformer. The Company is only waiting on the authorization of the official inspector and then the official connection to the electrical grid.
– Reclamation of the areas disturbed by the road and portal development is well underway; a significant area has already been had a layer of topsoil applied and seeded for revegetation;
– The combined workforce of Antioquia and contractors on site currently totals 77 employees, of these 38 are from the local area.
Further information including photos of construction activities can be found on the Company’s website www.antioquiagoldinc.com.
Mr. Jim Decker, P. Eng., Vice President Investor Relations and Director of Antioquia Gold Inc. and a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this news release.
For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com
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.
