Angel Gold Advances Acquisition of Key Ground on Trend of Iguanacito High-Grade Gold/Silver Mineralization
Vancouver, British Columbia – June 30, 2017 – Angel Gold Corp. (TSX-V: ANG – OTCQX: ANGCF) (“Angel” or the “Company”) is pleased to announce that its Colombian subsidiary, Angel Gold S.A.S, has been notified by the Secretariat of Mines of the government of Antioquia, Colombia, that an area solicited by Angel for mineral concession on August 09, 2016, Application RH9-08001 (see the map below) has been determined to be free of preexisting mineral claims and concessions. This is the second of three steps of the administrative process in perfecting a new mineral concession over the area. The remaining process is the issuance of the Concession Contract.
This new concession area, comprising 1,998.902 hectares is immediately south and contiguous with Angel’s concession 6717. Angel’s NW-SE trending drill-ready Iguanacito prospect has been mapped extending along strike into the new area, with the intrusive-hosted Iguanacito prospect having widened significantly and also joining with a wide north-south trending zone of intensely sericite-altered sediments at the 6717 southern concession boundary.
Geophysical surveys recently completed by the Company over the Iguanacito prospect overlapped the boundary with the new area and exhibited open chargeability and resistivity anomalies extending into the new area along strike from Iguanacito as well as extending into the flanking sediment package. Soil samples taken along the geophysical profiles show gold and silver anomalies coincident with the geophysical anomalies that are also open into the new area.
The advance in this new land acquisition significantly increases the prospective target area and opens up the potential central source of the three main alteration zones.
“We are pleased to have received this notification from the Secretariat of Mines of Antioquia,” said Stella Frias, President and CEO of Angel Gold. “The application has been found to be free of conflicting titles. This is the second and most significant step in the process of obtaining the concession, and the most complex. The promptness shown by the Secretariat in processing our application is heartening and we hope the finalization of the process with the awarding of the Concession Contract with proceed rapidly as well”
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
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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.