Antioquia Gold has completed the phase II drill program at the Guaico deposit, which is located in the company’s flagship Cisneros project in Colombia, and has expanded the Guaico mineralization to 350 m vertically.
Guaico Deposit – Plan View.
The company has obtained encouraging results from 7 holes out of 12 drilled at Guaico mineralization and is expecting the remaining results from 5 holes in 3 to 4 weeks. It has encountered 32.7 g/t Au over 1.5 m and 12.4 g/t Au over 3.85 m in hole GCO12-027; and 3.2 g/t Au over 1.8 m and 10.8 g/t Au over 6.6 m in hole GCO12-029.
Antioquia began the phase II drill program on 26 June, 2012, and completed drilling of 4,393.4 m at the Guaico deposit. The 2012 drill program conducted at Guaico has successfully outlined numerous structures, including the Guaico deposit. All mineralized structures that were outlined stay exposed along strike and towards depth.
Hole GCO12-031 intercepted anomalous gold towards the Cisneros fault’s northern part. Antioquia is encouraged with the existence of a wide gold-silver-copper mineralized system, which was intercepted in hole GCO12-029. This zone shows an individual mineralized system at the Guaico deposit.
The company is conducting the phase III drill campaign, which includes drilling of four holes at the Guayabito deposit. The completion of these holes in early October 2012 will result in the suspension of the drill campaign till January 2013. This will allow the compilation of entire results, alteration of the geological model and preparation of an NI 43-101 resource report.
Antioquia’s local exploration program of nine targets discovered at the project continues to outline drill target areas for testing in 2013. Field work includes soil geochemical, geological mapping and prospecting profiles.
Regional exploration at the Cisneros property is an essential part of the company’s future, as it is specifically designed to validate the level and potential of multiple gold present at the Cisneros property.