Jan 19 2016
Antioquia Gold Inc. is pleased to provide an update on progress at its Cisneros Project in Colombia as of January 14, 2016.
The following is a summary of key milestones that have been achieved at the Guaico deposit:
- Explosives magazine construction has been completed; it is now in service, several rock blasts having been carried out;
- Main tunnel development (cross section 4m wide by 4.5m high) is complete through the overburden and saprolite zones, reaching the hard rock contact zone at a depth of ~24m. Ramp development through hard rock is ongoing, total depth of the tunnel is now more than 33m at an average grade of -13%. The contractor, Consorcio Guaico, is on schedule to intersect the first ore veins before the end of February;
- Concrete wall stabilization measures are complete, including wall anchors and drainage systems;
- Electrical poles have been installed for the 13.2 kv electrical substation which is under construction and scheduled to be in service in early March;
- Associated infrastructure construction is ongoing including water treatment plant, platforms for the office/dry complex, access road upgrades and temporary ore stockpile with waste rock from the tunnel development being utilized;
- The combined workforce of Antioquia and contractors on site currently totals 72 employees, of these 30 are from the local area.
In addition to the Guaico activities, Antioquia is finalizing exploration plans for Guayabito Sur, the property adjacent to Guayabito recently acquired from Gramalote Colombia Limited. These plans include both diamond drilling and an exploration tunnel.
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.
Neither the 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.