Home / Mining Company News Releases (Unreviewed) / Angel Gold Corp.: Large Chargeability Anomaly Extends Out Into Sediments from Iguanacito Main Zone, Open in Three Directions

Angel Gold Corp.: Large Chargeability Anomaly Extends Out Into Sediments from Iguanacito Main Zone, Open in Three Directions

VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 15, 2017) – Angel Gold Corp. (TSX VENTURE:ANG)(OTCQX:ANGCF) (“Angel” or the “Company”) 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.

About Angel Gold Corp.:

Angel is a Canada-based gold and silver exploration company focused on responsible development of mineral resources in Colombia, host to several significant gold deposits. Angel’s flagship project the El Porvenir is located at less than 2 km from Segovia project of Gran Colombia, the El Pino West Project is adjacent to the Gramalote project of B2Gold and Anglo Gold Ashanti JV and its Heliconia project is located north of the Titiribí district along the Cauca fault system.

Angel has been focused on acquiring and validating strategic mineral exploration opportunities in Colombia’s best mining districts with the highest potential for new discoveries.

On Behalf of the Board of Directors of Angel Gold Corp.

Blanca Stella Frias, Director, President and Chief Executive Officer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.

 

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