April 28, 2010 Antioquia Gold Drilling and Exploration Update Cisneros Area Colombia
April 28, 2010, Calgary, Alberta: Antioquia Gold Inc. ("Antioquia" pronounced "anti-oak-ee-a") is pleased to announce that drilling continues to intersect and expand previously discovered mineralized structures on its Cisneros Project in Colombia.
Antioquia continues its Phase 2 -- 10,000 meter (32,800 ft.) drilling program, as reported on March 17, 2010 (available on SEDAR or at www.antioquiagoldinc.com). To date Antioquia has drilled 11 holes for approximately 1,500 meters (4,900 ft.) on the Guaico-Nus Prospect.
The first 6 holes of the Phase 2 program intersect the Guaico north-south structure, the same structure encountered in the Phase 1 drilling program. There are now 8 drill holes and one artisanal working on the Guaico north-south structure which continues to remain open to the north and at depth.
The next 5 holes of the Phase 2 program intersect the Nus east-west structure, which was previously identified in drillhole PC09-22 from the Phase 1 drilling program. Antioquia has now drilled 9 holes into the Nus east-west structure which remains open to the east, west and at depth.
Initial assay results are expected to be available for reporting in the first half of May. However, the Phase 1 drilling program reported that drillhole PC09-20 had a drilled thickness of 6.91m at 15.73 g/t gold (22.7 ft at 0.51 ounces per tonne) in the Guaico north-south structure.
Antioquia continues its regional geology exploration on the remaining 5,000+ hectares (12,400 acres) of the Cisneros Project.
In July 2009, a grab sample that assayed 74.6 g/t gold was retrieved from the Mina Sur America prospect located in the north-east section of the Santo Domingo Joint Venture which is approximately 3 kilometers north of the current Phase 2 drilling program. In February 2010 Antioquia geologists returned to the Mina Sur America prospect and collected 14 hand channel samples which provided an average grade of 23.5 g/t gold.
In March 2010 a previously unknown artisanal working named Mina Papi was encountered within the newly acquired Pacho Luis land block just west of the current drilling on the Guaico-Nus prospect. Six hand channel samples were collected with an average grade of 6.19 g/t gold.
Antioquia is currently designing detailed mapping, ground geophysics and soil sampling programs to trace both the Mina Sur America structure and the Mina Papi structure, with preliminary plans to drill the areas toward the end of the current Phase 2 drilling program.
As part of its aggressive exploration program and to help identify high potential areas, on April 19, 2010 Antioquia commenced an in-house 60 line-kilometer (~40 line-miles) ground magnetometer survey in the Guayabito and Manuela-Guaico-Nus area. This geophysics survey program has as its goal to delineate key structures, to define continuity between these structures, to guide the current drilling program and to develop new drill targets on the Cisneros Project.
The regional geochemistry program continues with samples being collected from soil sampling grids in the Guayabito and Manuela-Guaico-Nus areas to augment structural mapping.
Antioquia is encouraged by the Phase 2 drilling program as it continues to encounter on step-out, the mineralized shear zones identified in the 2009 Phase 1 program. The two structures currently being drilled continue to provide optimism with regard to the enlargement of the areas of mineralization. As we are discovering through the first 1,500m, these structures are remaining open in various orientations and open at depth.
Positive results from two artisanal workings and the ongoing geophysics and geochemistry work continue to identify new prospects and drill targets.
About Antioquia Gold Inc.
Antioquia is a mineral exploration company focused on searching for precious metals and other mineral opportunities in Colombia. Its shares are listed on the TSX Venture stock exchange and its principal asset is the Cisneros Project, which comprises over 5, 626 hectares.
Antioquia's Cisneros Project lies below 2,000m elevation and is not affected by the new mining law protecting the Paramo highland ecosystems (+3,200m) in Colombia.
Caution regarding forward looking information:
All statements in this press release that are not statements of historical fact are forward-looking statements. Forward-looking statements can be identified by the use of words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes", encouraged'', and words of similar import. Forward-looking statements in this press release include statements about the Company's plans to continue to further define and evaluate mineralized structures with additional drilling, geophysical and surface geochemical programs, and any other plans mentioned. These forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results and achievements expressed or implied in these forward looking statements. These risks and uncertainties include, among other things, competition for qualified personnel and risks that are inherent in the Company's operations, including the risk that the Company may not find any minerals in commercially feasible quantity or raise funds sufficient to prosecute its exploration plans. These and other risks are described in the Company's periodic disclosure documents, which can be viewed at www.SEDAR.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made.
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.