Mar 29 2017
Antioquia Gold Inc. ("Antioquia" or the "Company") (TSX VENTURE:AGD) is pleased to provide a status update about its Cisneros Project in Antioquia, Colombia. Since breaking ground at the Guayabito site late in 2016 upon receipt of the final environmental approval, significant mining building progress has been made at Cisneros, at both the Guaico and Guayabito sites.
The Cisneros Project is advancing on schedule and the Company aims to commence production in the fourth quarter of 2017.
"We are very pleased with the progress we have made to date at both Guaico and Guayabito and look forward to being able to start producing gold in the second half of the year" said Felipe Ferraro, President, CEO and Chairman of the Board.
The following is a summary of accomplishments and progress to date in 2017.
At Guaico, underground activities have been focused on developing the ore extraction systems using the 1160 Level as the base. A total of 417m of development advance was completed in February, 17% more than planned. A total of six production stopes are now ready along the main Guaico vein structures. As of February 28th, a total of 3,189.5m of underground working advances (horizontal and vertical) have been completed. The advances are shown on Table 1 and Figure 1 in the Appendix as well as on the Company's web site (www.antioquiagoldinc.com).
In addition, a comprehensive rock mechanics review has been carried out and a series of different rock bolting systems have been designed for specific areas and rock types.
At Guayabito, work is progressing well on the mine portal structure. The retaining wall at the entrance has been covered with a grout curtain and a series of cable bolts have been installed to provide overall stability.
Long lead time items for the process plant such as crushers, screens, ball mill, gravity concentrator, etc. are either on site or in transit to Colombia. Detailed engineering design work is being finalized for the earthworks and associated concrete platforms for the main plant installation. Civil works are at an advanced stage with the office buildings and permanent camp under construction. Design work for the tailings disposal pipeline is continuing. A stockpile area for mineral material from Guaico is under construction in preparation for the future plant operations.