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Angel Gold Provides Update on Recent Geophysical Surveys at Iguanacito Main Zone

Angel Gold Corp. announces strong chargeability and resistivity responses were encountered within the sediment hanging wall to the Nus Fault in its recently completed Induced Polarization and Resistivity geophysical surveys. Anomalies in the Iguanacito Trend in the footwall intrusives were previously announced on May 1st, 2017.

A broad increase in chargeability, covering an area of 1000 meters by 1000 meters and open in 3 directions, is coincident with a larger overlying resistivity anomaly that is similarly open. These large coincident geophysical anomalous responses are interpreted to be associated with increased sulfides content associated with multiple specific strongly chargeable zones of more resistive sulphidic silicified altered rocks and possible mineralized intrusives located within in the black sediments adjacent to the intrusive/sediment contact. Previous surface sampling by the company on in the area indicate gold and silver mineralization occurs in the general area.

Stronger specific chargeability anomalies within this larger anomaly may be correlative with the extensive zones of bleaching, sulfides, and the smaller jasperoid breccia bodies observed within the sediments. Mapping indicates the bleached sediments join with the Iguanacito Fault zone along strike and/or at depth, creating intersections that offer increased potential for other high priority drill targets.

Integrated results of geophysics, geology, stream sediment and historic auger geochemistry suggest strong potential for our targets to extend along strike southwards and eastwards beyond the limits of the recent geophysical survey.

"We are pleased and surprised by the unexpected strong geophysical responses from the sediments east of the Nus Fault," said Stella Frias, President and CEO of Angel Gold. "The chargeability response over the Main Trend confirmed the exciting potential at depth in the Central Shoot drill target and further potential for additional targets shoots along strike. This extension of the chargeability and resistivity anomalies into the sediments suggests the exploration targets in the region may not be confined to the intrusive body of the Segovia Batholith."

IGUANACITO GEOPHYSICS GRID SEDIMENT HOSTED ANOMALIES

The geophysical grid extended along the northwest trending limb of a substantial flexure in the Nus Fault that is believed to be a prime host site for mineralization, and also extended into the sedimentary rocks and over north-south trending zones of bleaching and bodies of jasperoid breccia.

  • 1,000m x 1,000m IP chargeability anomaly is open in three directions (Figure 1) with stronger specific anomalies within it, two of which are much stronger than the Iguanacito Central Shoot. These anomalies may represent sulfide bearing targets at depth in this area where surface mapping indicates sulfides and bleaching occur in and around the Nus Fault and within the overlying sediments.
  • A cluster of strong resistivity highs reflecting zones of possible strong silicification and/or intrusive bodies occurs on both sides of the Nus Fault, extending 1400m x 1200m, open in 3 directions (also Figure 1).
  • In pseudosection the anomalies in the sediments show wide zones of anomalous chargeability and resistivity (Figure 2) generally overlapping but partially offset.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/ang0515fig1.pdf.

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/ang0515fig2.pdf.

The geophysical anomalies are enhanced by the observations of Angel geologists of the following features within the hanging wall sediments:

  • a cluster of younger intrusives to the east of the Iguanacito prospect, including a small outcrop of intensely sericitized granodiorite porphyry with multiple generations of stockwork veins (both quartz and iron oxide after sulfides)
  • wide zones of intense bleaching of sediments
  • gold-silver veins in shear zones
  • outcrops of jasperoid breccias
  • boulder stream float of pyrite-silica matrix breccia with intensely sericitized clasts (1050 g/t Ag)

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.

Source: http://www.angelgoldcorp.com/

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