May 6 2016
Antioquia Gold Inc. ("Antioquia" or the "Company") is pleased to provide an update on the progress at its Cisneros Project in Colombia as of May 4, 2016. The following is a summary of additional milestones that have been achieved at the Guaico deposit:
- main tunnel development (cross section 4.5 m wide by 4 m high) continues to progress well. Total length of the tunnel is now more than 307 m at an average grade of -13% and has reached an elevation of 1,241.4m, some 34m below the elevation of the portal entrance;
- in the last news release, it was mentioned that the main Guaico vein structure had been intersected at ~135m and an elevation of 1,260m; the vein averaged 1.2m in width with some areas up to 1.5m wide. The first ore extraction drift has been developed (cross section 3m wide by m high) in this general area with ore and waste chutes in readiness for production. Total development for this portion totalled 73m. While ore is not planned to be mined until much closer to the plant completion date has been established, there should be no delay in getting plant feed when the time is right;
- an access tunnel has been developed at elevation 1245m of the main access ramp in preparation for raise boring of a ventilation shaft in about 2 months time;
- the industrial water treatment plant has been installed and is functioning;
- the electrical infrastructure is scheduled to be functioning on May 15, 2016. This will allow the Jumbo drills and other equipment to switch from diesel thereby optimizing ventilation requirements;
- surface infrastructure continues to progress with the setting up of buildings for the following:
- First Aid
- Warehouse
- Cafeteria
- Offices
- Guayabito South (acquired last year from Anglo-Gramalote) - The first exploration diamond drill hole has been completed to a depth of 100m. A second hole is currently underway and the planned depth is 300m which should cut across all the vein structures that extend south from the original Guayabito property. A total of 6 diamond drill holes are planned. The results from this program will be closely examined for possible incorporation of Guayabito South into the overall mine plan.
Further information including photos of construction activities can be found on the Company's website www.antioquiagoldinc.com.
Mr. Jim Decker, P. Eng., Vice President Investor Relations and Director of Antioquia Gold Inc. and a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this news release.
For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com.
Source: http://www.antioquiagoldinc.com/