Vancouver, British Columbia–(Newsfile Corp. – March 26, 2018) – Advance Gold Corp. (TSXV: AAX) is pleased to announce exploration work has begun at its Tabasquena Silver mine in Ojocaliente, Mexico. This work includes sampling the Tabasquena epithermal vein in the first 100 metres, to test for the correlation between the silver grade and the oxidization in the vein, plus sample the sulphide portion that starts at the bottom of the shaft. Once that sampling is completed, Advance will use that data to prepare for a drilling program to begin shortly after the sampling.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Our exploration team, lead by geologist Jose de Jesus Parga (former head of Geological Survey of Mexico), is excited to get started with our new exploration program. At the Tabasquena vein, which can be traced on surface through outcrops for 2000 metres, all historical mining was focused on a small portion of the vein at its furthest lateral extent. What makes this such a compelling silver exploration target is that only the oxidized portion of the epithermal vein had been mined in the 1970s by Penoles, no mining or drilling has ever been completed into the sulphide portion. This first phase of exploration, sampling the first 100 metres, will test if the silver grade increases as the oxidation diminishes. We will then drill a few holes to test the sulphide zone downdip and on strike. Importantly, we know there is an additional parallel vein beside the Tabasquena vein and we hope to find others. This project is on strike with the nearby Milagros silver mine which is well known for mining high-grade to bonanza grades of silver. It is very helpful that Jose Parga knows the district very well. He and his family have lived in nearby Ojocaliente for generations.”
Tabasquena Silver Project – Mexico
The Tabasquena silver mine is located near the town of Ojocaliente, in the state of Zacatecas, Mexico. Advance Gold holds a 100-per-cent interest in the Tabasquena silver mine. Mexico is the most important country in the world for silver mining, having produced around 25% of all silver ever mined. The state of Zacatecas has produced approximately 40% of the silver ever mined in Mexico.
Tabasquena is well located near the Milagros silver mine headframe which is approximately 6.7km from the Tabasquena headframe. Around 10km from Milagros headframe is the El Coronel gold mine operated by Frisco Mining. To the west around 10km from Tabasquena is Teck’s San Nicholas base metal mine. All of these various projects have geology in common as the projects are hosted in the old marine volcanic rocks, andesites.
Past work on the Tabasquena mine includes underground mining by Penoles that was confined to the oxidized portion of the Tabasquena vein. The underground workings are open and accessible for mapping and sampling to guide upcoming drilling.
Benefits at Tabasquena include road access to the claims, power to the claims, a 100 metre underground shaft and underground workings, plus it is a fully permitted mine.
Julio Pinto Linares, PGeo, is the qualified person responsible for this release and has prepared, supervised and approved the preparation of the scientific and technical disclosure contained within the release.
About Advance Gold Corp. (AAX.V)
Advance Gold is a TSX-V listed junior exploration company focused on exploring and acquiring mineral properties containing precious metals. The Company currently has a 13.5% interest on strategic claims in the Liranda Corridor. The remaining 86.5% of the Kakamega project is held by Acacia Mining (63% owned by Barrick Gold). In addition, Advance Gold has recently acquired a 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. The Tabasquena project is a shadows of a headframe project near the Milagros silver mine, near the city of Ojocaliente, Mexico.
For further information, please contact: Allan Barry Laboucan, President and CEO Phone (604) 505-4753
This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors should change, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.