Angel Gold Corp.
TSX VENTURE : ANG

Angel Gold Corp.

February 21, 2017 09:30 ET

Angel Gold Commences Geophysical Survey on its El Porvenir Project in Antioquia, Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 21, 2017) - Angel Gold Corp. (TSX VENTURE:ANG) ("Angel" or the "Company") is pleased to announce that the Company has commenced geophysical surveying on its El Porvenir project where surface trenching and sampling has identified high-grade gold and silver values. The project is located at less than 2 km from Gran Colombia project, in the Segovia Belt, the most productive gold district in Colombia.

The geophysical program will consist of pole-dipole Induced Polarization, and ground magnetics, covering a total of 23.15 line kilometers at its Iguanacito, Guayabales and Abejero prospects.

The surveys will be carried out by KTTM geophysics and their Canadian partner Geophysics GPR. KTTM is based in Medellin Colombia, and has been operating in Colombia, Ecuador, Peru and Nicaragua for the last 10 years in mining exploration, providing services and supplies for many of the large successful exploration programs in the Colombia.

Stella Frias, Angel Gold's President & CEO, commented, "We are excited by the potential to generate target at depth in an area with abundant gold and silver anomalies identified at the surface. This geophysical survey will be conducted in an area that also contains broad alteration-hosted and intrusive-related styles of mineralization indicated by our work to date have not been previously reported by others within the Segovia district."

Iguanacito Prospect

Surveying will commence at the Iguanacito Prospect associated with the Nus Fault which separates the extensively gold-mineralized intrusives of the Segovia Batholith from a unit of black sediments with interbedded volcanic rocks that has been intruded by younger igneous bodies. The initial discovery of gold-silver mineralization was as two discrete zones of intensely sericite-silica altered brecciation zones containing high-grade sulfide-silica breccias, some 50m apart, that coalesce southwards along the contact into a continuous zone of intense sericitization of over 100m in width and exhibiting stockworks and sheeted veinlets of sulfide and quartz.

Angel has previously reported its discoveries of wide zones of intense sericite alteration within the adjacent black sediments/volcanics unit and a small exposure of intensely sericitized porphyry with multiple episodes of stockwork mineralization, as well as stream float of bonanza-grade silver in pyrite-silica breccia (1050 g/t Ag or 30.63oz/short ton). It is suspected the prospect is underlain and flanked by largely-buried mineralised intrusive bodies of younger ages than previously recognized in the district.

This is a newly discovered prospect and has had no previous modern exploration work undertaken over it. (See: http://www.angelgoldcorp.com/news/)

Guayabales Prospect

The Guayabales Prospect is hosted within an intensely-weathered, poorly-outcropping multi-phase intrusive body within the black sediment unit. Historic shallow drilling (17 holes for 1308.4m) identified a zone in the southernmost 5 drill holes at least 100m wide of intense sericitization with intense silicification at its core where diamond drill hole RBGDDH049 intersected 9m @ 0.76g/t gold and 89.9 g/t silver from 27.15 to 36.15m downhole (true width unknown), associated with sulfide-quartz breccia infillings.

A nearby surface rock chip by Angel returned 1.57g/t gold and 170 g/t. Soil sampling by Angel suggest that this alteration zone continues southwards for at least 700m and continues beyond the southern-most soil line, and suggests that the alteration zone could be at least 400m wide with a more geochemically anomalous core of around 100m width.

Details of the soil sampling results have been included previously in a press release dated August 25, 2015

Abejero Prospect

The Abejero Prospect is a shear structure within Proterozoic metamorphic rocks immediately adjacent to the major, deep, crustal scale, Bagre Fault. Historic shallow drilling (36 holes for 2398.25m) identified two high-grade to bonanza-grade gold-bearing steeply plunging sulfide-bearing quartz shoots within the shear structure. Drill holes also intersected an intrusive diorite at the ends of 3 of these shallow holes. A single IP line along this intermediate dipping structure will test the down dip continuation of these sulfide-quartz shoots.

See results of the historic drilling on press release dated February 17, 2015.

About Angel Gold Corp.:

Angel is a Canada-based gold and silver exploration company focused on responsible development of mineral resources in Colombia, host to some of the world's largest gold deposits. Angel's flagship project the El Porvenir is located at less than 2 km from Gran Colombia project, the El Pino West Project is adjacent to Gramalote project, B2Gold and Anglo Gold Ashanti JV, 2.5M oz. discovery and its Heliconia project is located north of the Titiribí district along the Cauca fault system.

Angel has been focused on acquiring and validating strategic mineral exploration opportunities in Colombia's best mining districts with the highest potential for new discoveries.

On Behalf of the Board of Directors of Angel Gold Corp.

Blanca Stella Frias, Director

President and Chief Executive Officer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain "forward- looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.

Contact Information

  • Investor Relations:
    Angel Gold Corp.
    Stella Frias
    +57 321 427 6977
    +1 (360) 650 1440

    Angel Gold Corp.
    #545 - 999 Canada Place
    Vancouver, BC, V6C 3E1
    604-684-6264
    604-684-6242 (FAX)