- phase 3 drilling is underway at the Tabasquena mine in the state of Zacatecas, Mexico
- Two targets are planned to be drilled:
- One target is a near surface, the other a deeper test for the boiling zone of the cluster of epithermal veins drilled in the two earlier phases of drilling.
- Advance discovered a cluster of epithermal veins through drilling, all but a few of them blind. This suggests drilling intersected the top of the epithermal vein system.
Vancouver, British Columbia–(Newsfile Corp. – March 22, 2019) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”)
is pleased to announce phase 3 drilling is underway at the Tabasquena
mine in the state of Zacatecas, Mexico. Two targets are planned to be
drilled during this program, one is a near surface target and the other
deeper to test the boiling zone of the cluster of epithermal veins
drilled in the two earlier phases of drilling.
Highlights of Phase 1 and 2 Drilling
Advance
discovered a cluster of epithermal veins through drilling, all but a
few of them blind. This suggests drilling intersected the top of the
epithermal vein system. From a regional perspective, most of the veins
found near the city of Fresnillo, including those found at the Fresnillo
Plc. and Mag Silver Juanicipio joint venture are blind.
Often,
at the top of an epithermal vein system, anomalous to low grade is
expected, which was found in phase 1 and 2 drilling. Also present in the
core is milky quartz and amethyst, another important indicator of being
at the top of an epithermal vein system. Importantly, crustiform and
colloform quartz was encountered which are indicative of a long lived,
multiple phase system.
Phase 3 Drilling Plans
Two
shallow holes, around 150 metres each, are planned to test the near term
production potential in the oxide zone of the Tabasquena vein. In the
phase 2 drilling, a 12 metre intersection of the Tabasquena vein in the
oxides was hit. This vein in the oxides is much wider than the
historical 2-4 metre mining widths utilized by former operator Penoles.
This intersection was a 125 metre step out to the north of the old mine
workings and is approximately 75 metres along strike from the 100 metre
deep shaft and headframe. Advance has mining equipment on site and the
Tabasquena project is fully permitted for mining.
A key focus of
the phase 3 drilling will be to drill deeper to target the boiling zone
of the epithermal vein system. The cluster of veins dip toward a fault
which is considered a key structural feature. A proposed deep hole will
start from the west side of the fault, drill east, to then go through
the cluster of veins to catch them at the boiling zone. This hole is
planned for approximately 700-800 metres of depth, based on the well
understood model of epithermal veins in the area, this depth should
reach the boiling zone.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “In
past drilling, we have been able to hit important milestones drilling
at the Tabasquena, with the discovery of a wider portion of the
Tabasquena vein in the oxide zone, and the discovery of a cluster of
epithermal veins. Our team is excited to test these two important
targets. Considering we have a mine permit, and underground workings,
plus that many streamers and royalty companies are in need of new
projects to deploy their cash, makes the near surface drilling an
important drill target. The deep drilling is very exciting as well. Our
past drilling has shown we have a large epithermal vein cluster,
mineralization of gold and silver, and that it is a long-lived system.
Now comes the exciting part, drilling deeper to test for the boiling
zone of the system.”
Julio Pinto Linares, Doctor in Geological
Sciences with specialty in Economic Geology and Qualified Professional
No. 01365 by MMSA is the qualified person as defined by National
Instrument 43-101 responsible for the accuracy of technical information
contained in this news release.
About Advance Gold Corp. (TSXV: AAX)
Advance
Gold is a TSX-V listed junior exploration company focused on acquiring
and exploring mineral properties containing precious metals. The Company
acquired a 100% interest in the Tabasquena Silver Mine in Zacatecas,
Mexico in 2017, and the Venaditas project, also in Zacatecas state, in
April, 2018.
The Tabasquena project is located near the Milagros
silver mine near the city of Ojocaliente, Mexico. 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.
Venaditas
is well located adjacent to Teck’s San Nicholas mine, a VMS deposit,
and it is approximately 11km to the east of the Tabasquena project,
along a paved road.
In addition, Advance Gold holds a 14.53%
interest on strategic claims in the Liranda Corridor in Kenya, East
Africa. The remaining 85.47% of the Kakamega project is held by Acacia
Mining (63% owned by Barrick Gold).
For further information, please contact:
Allan Barry Laboucan,
President and CEO
Phone: (604) 505-4753
Email: [email protected]