Angel Gold Corp. (TSX VENTURE:ANG) ("Angel" or the "Company") is pleased to announce that the Company has commenced geophysical surveying on its El Porvenir project where surface trenching and sampling has identified high-grade gold and silver values. The project is located at less than 2 km from Gran Colombia project, in the Segovia Belt, the most productive gold district in Colombia.
The geophysical program will consist of pole-dipole Induced Polarization, and ground magnetics, covering a total of 23.15 line kilometers at its Iguanacito, Guayabales and Abejero prospects.
The surveys will be carried out by KTTM geophysics and their Canadian partner Geophysics GPR. KTTM is based in Medellin Colombia, and has been operating in Colombia, Ecuador, Peru and Nicaragua for the last 10 years in mining exploration, providing services and supplies for many of the large successful exploration programs in the Colombia.
Stella Frias, Angel Gold's President & CEO, commented, "We are excited by the potential to generate target at depth in an area with abundant gold and silver anomalies identified at the surface. This geophysical survey will be conducted in an area that also contains broad alteration-hosted and intrusive-related styles of mineralization indicated by our work to date have not been previously reported by others within the Segovia district."
Surveying will commence at the Iguanacito Prospect associated with the Nus Fault which separates the extensively gold-mineralized intrusives of the Segovia Batholith from a unit of black sediments with interbedded volcanic rocks that has been intruded by younger igneous bodies. The initial discovery of gold-silver mineralization was as two discrete zones of intensely sericite-silica altered brecciation zones containing high-grade sulfide-silica breccias, some 50m apart, that coalesce southwards along the contact into a continuous zone of intense sericitization of over 100m in width and exhibiting stockworks and sheeted veinlets of sulfide and quartz.
Angel has previously reported its discoveries of wide zones of intense sericite alteration within the adjacent black sediments/volcanics unit and a small exposure of intensely sericitized porphyry with multiple episodes of stockwork mineralization, as well as stream float of bonanza-grade silver in pyrite-silica breccia (1050 g/t Ag or 30.63oz/short ton). It is suspected the prospect is underlain and flanked by largely-buried mineralised intrusive bodies of younger ages than previously recognized in the district.
This is a newly discovered prospect and has had no previous modern exploration work undertaken over it. (See: http://www.angelgoldcorp.com/news/)
The Guayabales Prospect is hosted within an intensely-weathered, poorly-outcropping multi-phase intrusive body within the black sediment unit. Historic shallow drilling (17 holes for 1308.4m) identified a zone in the southernmost 5 drill holes at least 100m wide of intense sericitization with intense silicification at its core where diamond drill hole RBGDDH049 intersected 9m @ 0.76g/t gold and 89.9 g/t silver from 27.15 to 36.15m downhole (true width unknown), associated with sulfide-quartz breccia infillings.
A nearby surface rock chip by Angel returned 1.57g/t gold and 170 g/t. Soil sampling by Angel suggest that this alteration zone continues southwards for at least 700m and continues beyond the southern-most soil line, and suggests that the alteration zone could be at least 400m wide with a more geochemically anomalous core of around 100m width.
Details of the soil sampling results have been included previously in a press release dated August 25, 2015
The Abejero Prospect is a shear structure within Proterozoic metamorphic rocks immediately adjacent to the major, deep, crustal scale, Bagre Fault. Historic shallow drilling (36 holes for 2398.25m) identified two high-grade to bonanza-grade gold-bearing steeply plunging sulfide-bearing quartz shoots within the shear structure. Drill holes also intersected an intrusive diorite at the ends of 3 of these shallow holes. A single IP line along this intermediate dipping structure will test the down dip continuation of these sulfide-quartz shoots.
See results of the historic drilling on press release dated February 17, 2015.