VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 24, 2016) - Angel Gold Corp. (TSX VENTURE:ANG) ("Angel" or the "Company") is pleased to announce that as of August 8, 2016, an application was made for newly available ground on trend with the southerly continuation of Angel's Iguanacito silver-gold prospect. The application was successfully made without any known competition from applications by other parties having been submitted.
To see the El Porvenir project and new application map, please visit the following link: http://media3.marketwire.com/docs/1066999.jpg
"We are very pleased to have the opportunity to apply for the ground hosting the southerly continuation of Angel's Iguanacito Prospect," says Stella Frias, President and CEO of Angel Gold Corp. "We are looking forward to evaluating the economic potential along the trend that is host to gold-silver mineralization within intense sericite-silica alteration zones that offer a new-and exciting target within the Segovia Belt in addition to the traditionally sought narrow quartz-veins."
Full evaluation of the potential of Angel's Iguanacito Prospect has to date been limited to the southern portion of the El Porvenir Project concessions. The northwest-southeast trending Iguanacito alteration zone, hosted at the faulted margin of the Segovia Batholith intrusive, widens considerably towards the southern concession boundary and intersects a north-south trending zone of intensely sericitized rock hosted within the sediment/volcanic package trending to the newly applied for area.
A second sediment/volcanic hosted zone of intense sericite alteration is projected to intersect the continuation of the Iguanacito zone into the area of this new concession application. The sheared western boundary of this second zone hosts the narrow (1m wide) gold-silver mineralization of an abandoned artisanal mine identified by Angel's geologists at the Nus prospect.
Angel interprets this widening of the Iguanacito alteration zone and its junction with two zones of intense sediment/volcanic hosted alteration as offering increased potential for high-grade shoots of mineralization at these structural/lithologic intersections. Angel Gold geologists consider it likely that these alteration zones are emanating from a central center within the area of the new application, possibly centered over a younger intrusive body.
Angel Gold geologists have already observed numerous zones of intense sericite alteration with quartz veinlets along access tracks to Angel's Iguanacito prospect that pass through the area of this concession application, including three zones tens of meters wide.
Mr. James G. Burns, P.Eng, a Qualified Person under National Instrument 43-101 standards and a technical advisor to the Company has reviewed and approved the technical information contained in this news release.
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 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.