Antioquia Gold Inc.
TSX VENTURE : AGD

Antioquia Gold Inc.

December 21, 2010 08:15 ET

Antioquia Announces More Gold Assayed From Cisneros

CALGARY, ALBERTA--(Marketwire - Dec. 21, 2010) - Antioquia Gold Inc. (TSX VENTURE:AGD) -

Antioquia announced continued success of the drilling program in expanding the extent of the known structures and the latest drill results from eight additional holes on its Guayabito Prospect at the Cisneros Gold project in Colombia (holes PC10-38 through PC10-45).

Results of this report continue to demonstrate zones of high grade gold mineralization in the Guayabito area and augment those previously reported in press releases from (December 21, 2009; January 25, 2010; June 14, 2010; August 9, 2010; and September 27, 2010). All eight holes encountered at least one, and as many as seven, mineralized structures. Drilled intersections continue to expand to the north and down dip the extent of the Bolo and Guayabito structures previously defined. In addition, many of the intersections represent new parallel and sub parallel structures associated with the overall Guayabito prospect adding a greater resource potential to the prospect. These structures remain open to depth.

"The results from these additional eight holes are highly encouraging," said Rick Thibault, President and CEO, Antioquia Gold. "Drilling has continued to validate our model and structural interpretation on the Guayabito Prospect and to expand its size and potential."

Highlights include drill hole PC10-38 encountering 3.4 metres at 4.3 g/t gold, PC10-39 encountering 1.25 metres at 10 g/t gold and PC10-41 encountering 1.4 metres at 12.1 g/t gold (including 0.4 metres at 42.3 g/t gold). Table 1 below shows significant intersections and gold values from the latest drill program.

Table 1 - Select drill hole intercepts, December 2010.
 
Drill Hole
No.
  From
(metres)
To
(metres)
Interval
(metres)*
GOLD
(grams/tonne)
PC10-38   31.85 35.20 3.35 4.29
    242.90 244.25 1.35 3.90
PC10-39   180.65 181.90 1.25 9.96
  including 180.65 181.27 0.62 18.75
PC10-40   104.50 106.00 1.50 7.31
    150.75 152.04 1.29 5.66
PC10-41   151.40 153.05 1.65 5.41
    179.00 180.40 1.40 12.09
  including 179.50 179.90 0.40 42.27
PC10-43   364.22 365.40 1.18 6.09
  including 364.52 364.82 0.30 20.99
PC10-44   33.90 35.05 1.15 7.66
    101.95 103.25 1.30 4.15
PC10-45   380.75 382.80 2.05 1.58
*(interval reported is drilled thickness and may not represent true width)

Drilling and geological modeling to date has identified a series of parallel structures on the Guayabito prospect area containing high grade mineralization in a plane oriented (striking) approximately north south and vertical. Two of these structures (Bolo and Guayabito) have been traced over approximately 150m along strike to the north and to a depth of 325m on the property. As previously reported these structures are dominated by mineralization consisting of quartz and sulphides (chalcopyrite, and pyrite). Gold is closely associated with sulphides and quartz.

Drilling has continued to validate the model and structural interpretation provided by Bob Casaceli. He suggests that the east-west driving structures have acted as left-lateral strike-slip faults that have locally created en echelon dilational jogs with maximum extension having been developed along secondary north-south faults, such as the structures currently being drilled at Guayabito, where attendant low-pressure zones favored fluid injection and subsequent gold deposition. This interpretation explains why higher gold grades at Cisneros tend to occur along north-south faults and along east-west faults near intersections with north-south faults

The drill program was shutdown on December 16, for the remainder of the year. This brings the total drilling on the Cisneros project to over 13,000 metres of core drilling in 79 holes. Four drill holes are pending and results will be available early January 2011.

About Antioquia Gold Inc.

Antioquia is a precious metal exploration company with projects in Colombia since 2007. Antioquia's principal asset, which is being actively explored, is its Cisneros Project, located 70 km northeast of Medellin in the Department of Antioquia, Colombia. At the Cisneros Project the Company has drilled over 11,000 meters, conducted extensive geophysical programs and is well versed in the understanding of the deposit type and the project's path to production. The Cisneros Project consists of 5,630 hectares and forms the nucleus of the company's 37,500 hectare land package located throughout Colombia.

This press release has been prepared under the supervision of Brad Van Den Bussche, P. Geol., Vice President of Exploration for Antioquia Gold Inc. and a Qualified Person as defined by National Instrument 43-101.

To ensure reliable sample results Antioquia has a rigorous QA/QC program in place that monitors the chain of custody of the samples and includes the insertion of blanks, preparation duplicates, field duplicates, and certified reference standards in each batch of samples. Core is photographed and sawed in half with one half retained in a secured facility for future reference if needed. Sample preparation (crushing and pulverizing) is performed at SGS laboratories in Medellin, Colombia.

Prepared samples are direct-shipped to SGS Laboratories in Lima, Peru, an ISO certified laboratory, for analysis. Assay for gold is performed by fire assay with 30 g charge and AAS finish, with a gravimetric finish for over limit samples. 

For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com.

To receive Company news by email, contact holly@chfir.com and mention "Antioquia Gold" news in the subject line.

Forward-Looking Statements: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. There is no certainty that the recently conducted metallurgical tests are indicative of the needs, or applicable methods, of the overall project. There is no certainty that the diamond drilling will commence when indicated. For any forward-looking information given, Management has assumed that the results it has received and the interpretation thereof are reliable, and has applied metallurgical methodologies which are consistent with industry standards. Although Management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. For such statements, the Corporation claim safe harbour for future releases. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws. 

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.

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