Angel Gold Corp.
TSX VENTURE : ANG

Angel Gold Corp.

September 12, 2016 09:30 ET

Angel Gold Trenching Extends Mineralized Zone at Iguanacito

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2016) - Angel Gold Corp. (TSX VENTURE:ANG) ("Angel" or the "Company") is pleased to announce that a trenching program has confirmed the continuation of high-grade gold-silver mineralization discovered earlier this summer(See press release from June 20, 2016) for trench TJK004 (5.7m @ 8.24 g/t Au 29.9 g/t Ag ). The lengthening of trench 10 encountered 7.0m @ 1.86 g/t Au 140 g/t Ag (estimated true width 6.6m), and trench TCO-021 encountered 4.8m @ 0.53 g/t Au 89.0 g/t Ag (estimated true width 4.5m). The extension of trench TCO-010 encountered a second intercept of 1.0m @ 1.92 g/t Au 211 g/t Ag.

The significant intercepts are shown in table 1 below and on the accompanying map, (view map here) while all results are shown in table 2 at the end of this release.

Table 1: Significant Intercepts (composited)

Trench From
(m)
To
(m)
Interval
(m)
Au
g/t
Ag
g/t
Pb
ppm
W
ppm
As
ppm
Sb
ppm
TCO-010 ext 10.9 17.9 7.0 1.86 140 963 7.1 1218 32
TCO-010 ext 19.4 20.4 1.0 1.92 211 1355 3.2 2190 51
TCO-021 4.2 9 4.8 0.53 89 299 2.4 926 29

"These results continue to strengthen our belief that the Iguanacito Prospect contains exploration targets with significant potential. The average estimated true width of 5.5m found in the trenching is highly encouraging from an exploration viewpoint - especially when considering the demonstrated continuity of high grade ore shoots at depth seen regionally within the Segovia belt where some of the mines exhibit a high level of continuity at depth" says Stella Frias, President and CEO of Angel Gold Corp. "Frequently in silver deposits an enrichment blanket occurs towards the base of oxidation - offering potential for much higher grades of silver. Nor do we believe that this is necessarily the best part of the Iguanacito prospect, but rather it is just the best part that we have been able to expose at surface to date"

Two existing trenches were extended and two new trenches excavated to define the extent of the trench TJK-004 mineralized zone. An additional trench was excavated to test a separate target to the east.

An outcrop of the Iguanacito southern zone was observed to terminate abruptly to the northwest, with trench TCO-004 encountering only a simple quartz vein in saprolitized granodiorite and a displaced block of mineralized alteration. A fault was inferred to have caused a minor apparent displacement of the western block to the south and Trench TCO-019 was excavated to test for the projected offset continuation but failed to encounter any alteration and thus no samples were taken.

Trench TCO-010 was extended, encountering significantly mineralized alteration, the similarity of which to the TJK-004 outcrop led to the apparent displacement on the fault being reinterpreted as west block northward.

Trench TCO-021 exposed significant mineralization associated with sheeted veinlets within and paralleling an intensely silica-sericite altered zone and also returned highly significant assay results.

Trench TCO-020 was excavated well to the east of the Iguanacito zones to test a small area of float fragments of intensely sericite bleached volcanics. It encountered a 1m wide zone of silicified and intensely sericitized rock which assayed 14.6 g/t Ag and, for this region, a highly anomalous 239 ppm copper.

Trench TCO-009, some 25m to the southeast of trench TJK-004, had been terminated in intense but barren sericite alteration. It was extended to cross the full width of the alteration zone, leaving a short barren zone at surface occurring between trenches TJK-004 and TCO-018 (75m to the southeast)

Analysis / Quality Control and Quality Assurance

Samples were submitted to ALS Medellin for preparation and assayed by ALS Peru. Gold was determined using Fire Assay AA finish (method Au-AA23). Silver values were determined by 4 acid digest and 48 element ICP-MS (method ME-MS61) with silver greater than 100g/t samples being redetermined by atomic absorbtion (method Ag-OG62) - except for 3 samples from Trench TCO-009 extended (5.25 to 9.35m) which were determined in an earlier assay batch by aqua regia digest and 51element ICP-MS (method ME-MS41). Angel submitted blanks, duplicates and standards with the sample batches as part of its QAQC program. All of the 4 acid digest samples reported here also had their pulps assayed by aqua regia digest ME-MS41, with the two methods yielding very similar results for silver.

Qualified Person

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.

Table 2 : All Trench Results

TRENCH FROM TO LENGTH Au
g/t
Ag
g/t
As
g/t
Sb
g/t
Pb
g/t
Zn
g/t
Cu
g/t
W
g/t
TCO-009 cont 3 vertical 0.9 0.006 0.03 16.3 0.52 5.4 30 8.2 1.4
TCO-009 cont 5 vertical 0.9 0.007 0.04 24.2 0.67 5.7 28 8.1 1.4
TCO-009 cont 5.25 6.75 1.50 0.005 0.03 10.6 0.18 3.8 13 5.6 <0.05
TCO-009 cont 6.75 8.25 1.50 <0.005 0.02 10.9 0.25 3.4 14 4.4 0.1
TCO-009 cont 8.25 9.35 1.10 0.007 0.01 9.4 0.18 3.1 11 3.1 <0.05
TCO-010 cont 5.90 6.90 1.00 0.010 0.21 104 1.17 11.2 47 2.9 0.7
TCO-010 cont 6.90 7.90 1.00 0.024 0.40 220 1.71 21.6 43 4.8 0.9
TCO-010 cont 7.90 8.90 1.00 0.024 0.54 334 1.94 34.5 47 41 10.0
TCO-010 cont 8.90 9.90 1.00 0.010 0.17 264 0.91 11.1 41 12 3.7
TCO-010 cont 9.90 10.90 1.00 0.068 1.30 393 2.73 73 105 57 14
TCO-010 cont 10.90 11.90 1.00 0.528 101 1805 7.00 298 44 53 11
TCO-010 cont 11.90 12.10 0.20 NS NS NS NS NS NS NS NS
TCO-010 cont 12.10 12.90 0.80 2.360 98.6 608 38 534 46 53 10
TCO-010 cont 12.90 13.90 1.00 0.412 27.8 1460 16 1140 33 26 5.3
TCO-010 cont 13.90 14.90 1.00 0.897 47.7 859 23 794 41 38 8.7
TCO-010 cont 14.90 15.90 1.00 1.695 185 724 55 615 125 37 5
TCO-010 cont 15.90 16.90 1.00 2.590 139 948 39 1215 216 43 3.8
TCO-010 cont 16.90 17.90 1.00 4.660 376 2000 48 2060 453 65 5.9
TCO-010 cont 17.90 19.40 1.50 NS NS NS NS NS NS NS NS
TCO-010 cont 19.40 20.40 1.00 1.920 211 2190 51 1355 50 20 3.2
TCO-020 1.60 2.60 1.00 0.038 14.6 497 2.20 25.7 97 239 1.1
TCO-021 3.20 4.20 1.00 0.058 0.78 687 11 54.1 33 14 2.2
TCO-021 4.20 5.00 0.80 0.174 30.2 461 6 75.8 26 13 1.5
TCO-021 5.00 6.00 1.00 0.466 104 589 17 144 34 17 2.2
TCO-021 6.00 7.00 1.00 0.800 51.0 1060 45 657 41 14 2.3
TCO-021 7.00 8.00 1.00 0.998 207 1610 50 296 139 20 3.8
TCO-021 8.00 9.00 1.00 0.362 39.8 815 21 277 71 8.2 1.8
TCO-021 9.00 10.70 1.70 0.095 2.77 495 7.13 56.1 30 5.4 1.1

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