ANGEL GOLD CORP Breccia Samples up to 6,620 Grams/Tonne Silver and 26.8 G/T Gold
Vein Samples up to 6,770 G/T Silver and 13.1 G/T Gold
February 08, 2016
Vancouver, British Columbia - Angel Gold Corp. (TSX-V: ANG)('Angel' or the 'Company') is pleased to announce high grade silver and gold mineralization on its El Porvenir project in Antioquia, Colombia in sample results from its 2015 follow-up trenching program on the newly discovered Iguanasito vein and associated Nus Fault breccia. The east/west trending mineralized vein and breccia zone has been mapped and sampled over a distance of 100 meters, has an approximate true width of 3 to 11 meters and is open-ended along strike in both directions and down-dip.
The limited hand trenching program revealed mineralization in both the hanging wall breccia above the vein and in the footwall alteration halo below the vein indicating a much thicker mineralized zone than the vein itself. Trench and outcrop sampling has identified high grade silver and gold with high grade silver assays of up to 6770 g/t silver in the Iguanasito vein in a grab sample from outcrop, and 6620 g/t silver in the hanging wall fault breccia in a 1m continuous chip sample perpendicular to structure where the breccia is approximately 5m thick, 3660 g/t silver from a grab sample in a .70m thick outcrop of vein, and 2160 g/t silver from a .70m continuous chip sample perpendicular to structure in the vein and 3140 g/t silver from a 1m continuous chip sample perpendicular to structure in fault breccia where the fault breccia is 5m thick. Higher grade gold assays include 26.8 g/t gold from a 1m continuous chip sample perpendicular to structure of fault breccia in a zone approximately 5m thick, and 21.8 g/t gold in the fault breccia in a grab sample where the breccia zone is approximately 5m thick, and 13.05 g/t gold from a grab sample in a .70m vein outcrop, 10.9 g/t gold and 9.83 g/t gold in the Iguanasito vein both from .70m continuous chip sample perpendicular to the vein. Rock samples were collected as continuous chip samples perpendicular to structure in trenches and from outcrop, and grab samples were taken from outcrops between trenches. Both trench samples and outcrop samples were collected in order to cover the target area. [Note: Grab samples are selected samples and are not necessarily representative of the actual grade.]
The trenching work has traced the Iguanasito vein, which ranges from 0.70m to 1.2m thick, in trenches and outcrop, over a strike length of 100m and is open for exploration to the east, west, and down dip. The associated fault breccia was observed over the length of the trenching area, and is from 2m to 10m thick and is part of the Nus Fault breccia. Both the Iguanasito vein and mineralized breccia zone are continuous over the 100 meters of trenching and outcrops with overall thickness of the vein plus breccia zone of 3 to 11 meters approximate true width. The Iguanasito vein and breccia zone is on strike from active underground artisanal gold mining, and is considered to have excellent exploration potential. The immediate 1.3km strike length of the Nus Fault breccia zone in which the Iguanasito vein and breccia zone occur is of high exploration interest. It is situated at the southern extent of the Segovia Batholith Contact (Nus Fault) in license 6717 and can be observed in the geologic gold-silver maps of the Nus-Corales areas on the Angel Gold website. http://www.angelgoldcorp.com/index.php/geology/el-porvenir-rock-sampling
Gold Equivalents for the Iguanasito Vein and Breccia Zone
The high grade silver values of the Iguanasito vein and associated breccia zone has an overall average of 26.01 g/t gold equivalent using the 33assay values (continuous chip + grab samples) available for the calculation. The calculation was made using the January 22, 2016 New York Spot Gold bid price on www.kitco.com at $1098.00 USD per ounce gold and $14.00 USD per ounce silver for a gold equivalent ratio of 78:1.
Rock Chip Sample Results of the Iguanasito Vein and Breccia Zone
During 2015 19 rock chip samples of the Iguanasito vein were collected (17 during the latest program and 2 previously) from trenches and outcrop along a 100m strike length. The Iguanasito vein is composed of mineralized quartz, strikes 290°, dips 68° north, ranges from .70m to 1.20m thick, and is open for exploration to the east, west, and down dip.. Due to strong weathering, the vein for the upper 15 meters vertical is oxidized and vuggy. Assay values for the 19 vein samples range from 1.08 g/t to 13.05 g/t gold and 8.6 g/t to 8710 g/t silver with an average of 4.97 g/t gold and 1687 g/t silver. For the 14 samples collected from the associated breccia zone (7 from the latest sampling program and 7 previously) assay values range from 0.2 g/t to 26.8 g/t gold and 2.39 g/t to 6620 g/t silver with an average of 10.33/t gold and 1163g/t silver.
The hanging wall and footwall to the Iguanasito vein are mineralized thus greatly enhancing the exploration potential of the zone. The altered granodiorite footwall adjacent to the vein was sampled at 4 locales over 1m intervals of continuous rock chips. Assay values ranged up to 2.61 g/t gold and 146 g/t silver. The hanging wall side of the Iguanasito vein is a mineralized fault breccia ranging from 2 to 10 meters thick with values up to 6620 g/t silver from a 1 meter continuous rock chip sample in outcrop, and 26.8 g/t gold from a 1 meter continuous rock chip sample in outcrop. This gives an overall approximate true width of 3m to 11m of mineralization (4 to12m if the alteration halo is included).
The Iguanasito vein itself is mineralized over the strike length of 100 meters where exposed in trenches and outcrop with values up to 13.05 g/t gold from a grab sample from a .70m thick vein outcrop, 10.9 g/t gold from a .07m continuous chip perpendicular structure, and 9.83 g/t gold from a .70m continuous chip perpendicular to structure.
Iguanasito is situated 500 meters west of the artisanal Nus Silver mine which is located in a shear zone. Iguanasito and the Nus Silver mine are at the southern end of the 1200 x 410 meter gold-silver soil geochemical anomaly located in Angel Gold license 6717 which was identified by Angel Gold geologists in 2015, and within the 1.3km strike length Nus Fault breccia zone mentioned above. Thus, a much larger area is considered to be highly prospective.
Table 1 at the end of this Press Release lists all Iguanasito samples collected in 2015 in a 150m x 150m area of Iguanasito. Planned 2016 geologic activities will be designed to expand this area. The 30 samples R00722 - R00760 are new samples from the November - December follow-up, and have not been reported previously. Samples R00429 - R00492 have been reported in previous press releases.
'We are very encouraged that we have confirmed the high grade silver and gold results with follow-up sampling at one of the priority targets within the 1.3km zone of high interest which has been identified along the Segovia Batholith Contact (Nus Fault). We are excited with the discovery of the mineralized breccia adjacent to the vein thus indicating a much thicker mineralized zone than the vein itself, and encouraged by the opportunity to expand this zone in both depth and length,' said Stella Frias, President and CEO of Angel Gold Corp. 'The 4km long deflected contact between the Segovia Batholith and sedimentary rocks along the Nus Fault, which created a zone of tension, has significant potential to channel mineralization. We are also excited for the potential of our less readily accessible Puna target (see press release dated 6 July 2015), where a strong gold stream sediment anomaly has yet to be followed up.'
Analysis / Quality Control and Quality Assurance
Samples were assayed by ALS Peru, using method ST43-PKG with Au by 25g aqua regia digestion and ICP-MS finish, and 51 element ICP-MS (method ME-MS41). Angel submitted blanks, duplicates and standards with the sample batches as part of its QAQC program.
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 exploration company focused on responsible development of mineral resources in Colombia, host to some of the world's largest gold deposits. Angel has been working in Colombia for over five years and continues its strategy to acquire strategic opportunities in Colombia's best mining districts.
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.
For investor relations please contact:
Stella Frias
Angel Gold Corp. issued this content on 08 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 08 February 2016 15:08:49 UTC
Original Document: http://www.angelgoldcorp.com/index.php/news/204-angel-gold-discovers-high-grade-silver-and-gold-mineralization-at-the-iguanasito-vein-breccia-zone-that-is-up-to-11-meters-thick-and-exposed-for-100-meters-along-strike
