August 31, 2009 Antioquia Gold Announces New Exploration Target found on Bullet Joint Venture Lands
August 31, 2009, Calgary, Alberta: Antioquia Gold Inc. (TSX-V: AGD) is pleased to report that from its ongoing exploration program at the company's Cisneros Project in Colombia it has identified a new exploration target, located on the Bullet Joint Venture lands.
In November 2008 the Bullet JV lands (5242.8 hectares) were explored on a regional scale. Exploration consisted of geological surface mapping for mineralization, alteration and structure, as well as a stream sediment sampling survey and surface rock sampling (prospecting). The sampling program consisted of 16 rock samples and 337 stream sediment samples at 110 locations. The mineralization, hydrothermal alteration and structures observed in the field and visual results of the stream sediment pan concentrates allowed the definition of three highly prospective areas to focus detailed exploration. In the figure below the three purple areas identify specific areas of interest and the yellow circles represent points where gold occurred in pan concentrate.
In April and May 2009 the Bareño area (area 3 on the figure), located immediately north of the original Guayabito concessions, was explored and sampled with a focus on structural mapping to further define structures controlling the presence of mineralization in the area. A total of 32 grab samples were collected, from mineralized and / or hydrothermally altered structures. The highlight of the Bareño exploration was the discovery of Mina Sur America prospect and the site of an artisanal mine located on the property, which is interpreted to be part of the east-west system of shear zones The structure has a thickness of 0.7 meters at the mine. The mineralization consists mainly of fine grained sulphides (dominated by pyrite and chalcopyrite) within the structure. A grab sample taken from Mina Sur America assayed at 76 g/t of gold. The Mina Sur America area is a new target at the Cisneros Project that will be undergoing a full channel sampling, trenching and a ground geophysical program in the near future.
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.
AGD is a Calgary based mineral exploration company focused on searching out precious metals and other mineral opportunities in Colombia. AGD's principal asset is its Cisneros Project, located 70 kilometers northeast of Medellin in the Department of Antioquia, Colombia.
The Cisneros Project consists of 6 contiguous mineral dispositions covering 279 Ha plus 5,243 Hectares controlled under an agreement with Grupo de Bullet. The properties are located geologically on a large granodiorite intrusive called the Antioquia Batholith, The geologic model has been defined as a structurally controlled mesothermal lode/vein type system. This system appears to be laterally continuous, and dominated by gold with various secondary precious metals and sulphides, specifically silver, copper and molybdenum. The Cisneros property has been the primary focus of AGD's exploration activities to date consisting of surface soil and rock geochemistry, structural and alteration mapping, as well as mapping and geochemistry of historic artisanal mine workings in the area. There are at least 20 historic artisanal mines in the area where locals extracted high grade vein gold for over 100 years.
AGD is currently evaluating additional opportunities to expand its portfolio of mineral exploration properties in Colombia. AGD is a publicly listed company on the TSX Venture Exchange under the trading symbol AGD and has a total of 39,365,297 common shares issued and outstanding. All of the mineral properties AGD owns are considered in the exploration stage of development.
Caution regarding forward looking information
This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AGD to be materially different from actual future results and achievements expressed or implied by such forward looking statements. . Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of AGD and its management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Readers are also advised to consider such forward- looking statements while considering the risks involved.
Rick Thibault, President
Antioquia Gold Inc.
Brad Van Den Bussche, VP Exploration
Antioquia Gold Inc.
Neither 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.