June 28, 2011, Calgary, Alberta: Antioquia Gold Inc. (“Antioquia”) (TSX-V: AGD) is pleased to announce a high-grade gold intercept at the Guaico structure; 22.72
g/t Au over 2.3 meters.
The Guaico structure is the continuation of the Guaico Artisanal Mine originally drilled by Antioquia Gold in 2009 and 2010. The above mentioned intercept represents the deepest high-grade intersection at the Guaico structure to date and has extended the Guaico structure / mineralization 60 meters along strike to the north and 120 m down plunge from the Guaico Artisanal Mine.
Results from an additional eight (8) drill holes (1,934.4 m) from the 2011 drilling campaign at Cisneros are reported herein and includes continuing success at the Nus Vein and Papi Zone; new discoveries made earlier by Antioquia in 2011 and as originally reported in May 27, 2011 News Release (available on our website or SEDAR). To date Antioquia has reported results from eighteen (18) drill holes amounting to 4,289.7 m of the ongoing 15,000 m drill program in 2011 at the Cisneros Project.
Refer to Table 1 and Figures 1&2 for summarized results and location of drill holes reported.
The Guaico Structure is the continuation of the Guaico Artisanal Mine. Individual grab samples collected within the Guaico Artisanal Mine returned values up to 60.74 g/t Au. Drill intercepts of the Guaico structure drilled in 2009 by Antioquia returned values up to 19.9 g/t Au over 5.38 m. GCO11-001 reported above intersects the Guaico structure 120 m below and 60 m along strike to north. GCO11-003 intersected the Guaico structure 100 m along strike, 160 m below the Guaico Artisanal Mine; however, the lower grade suggests possibly the northern limit of a controlling plunge to mineralization. Similarly, anomalous gold results from GCO11-004 confirms the continuation of the gold bearing Guaico
structure 250 m below – down plunge from the Guaico Artisanal Mine. Antioquia Gold continues to define the Guaico structure by diamond drilling and has defined well developed mineralization over a strike length of 200 m and to a depth / down plunge 200 m below the Guaico Artisanal Mine. Additional assay results will be reported once they are available.
GCO11-002 tested a separate IP anomaly northwest of the Guaico Artisanal Mine with no significant results.
Nus Vein Zone
The results from drill holes NUS11-005 and NUS11-006 continue to exhibit the presence of silver and copper along with gold (Cu+Au+Ag) in the structure and compliments the results previously reported in holes NUS11-002, 003, and 004. In fact NUS11-005 suggests a higher gold content. Table 1 illustrates results and has converted the silver and copper values in the Nus Vein drill holes to provide a gold equivalent value (Au Eq).
NUS11-006 intersected the structure 100 m along strike and 100 m below the NUS11-005 intersection confirming the continuation of the polymetallic (Cu+Au+Ag) structure; however, it also suggests a structural control on Au grade, notably a steep plunge. The veins remain open along strike and to depth. Antioquia is currently testing this structural control and will report additional results when available.
It is uncertain from the results for PAP11-004 and PAP11-005 (see Table 1 below) whether the drilling in fact intersected the continuation along strike of the mineralization previously reported (Press Release May 27, 2011) in drill holes PAP11-001 and PAP11-003 or is a new structure in the zone. More drilling has been performed at the Papi Zone to better define structural controls on the mineralization as well as defining the mineralization occurring at the Papi Artisanal Mine (selective samples taken from the Papi Artisanal Mine returned up to 12.7 g/t Au). The Papi structures remain open along strike and depth. Results on this new drilling are pending.