Vancouver, British Columbia–(Newsfile Corp. – October 29, 2018) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) reports on the completion of three drill holes in the phase 2 drilling program at the Tabasquena Silver Mine, near Ojocaliente, Mexico. In an area covering around 125 metres along strike, and 200 metres wide, 7 holes have hit a cluster of over 30 epithermal vein intersections.
In the phase 2 drilling, only anomalous gold and silver were found in assays of 53 core samples, even though significantly more quartz is present and also amethyst. Not only is there an increase in the quartz in the veins, the amethyst is important as it is found in the epithermal veins mined in the Veta Grande trend.
In addition to increasing quartz in the veins, the quartz is also present in the country rock, andesite, near veins. Other signs of a large geological system, is that in hole 7, along with a cluster of veins, there was a 150 metre intersection of highly silicified andesite.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “We have moved the Tabasquena project forward significantly in our first 7 holes finding a cluster of nearly 30 epithermal vein intersections. Not far from us is Fresnillo, Mexico, and right beside the city is a cluster of approximately 20 epithermal veins that were mined for over 500 years. We are in one of the most of important silver and gold districts in the world and have found a cluster of epithermal veins in a small area.
“Our exploration team is very excited about our holes into a cluster of epithermal veins during phase 2 drilling with roughly 30 epithermal vein intersections. We only saw anomalous gold in the phase 2 core samples, zonation of grade vertically and horizontally in epithermal veins is common, we are still just under the oxide zone by around 125 metres with our deepest drill holes.
“One of the blind veins discovered in phase 2 drilling is the Dakota vein, we hit a 17 metre intersection, it was a discovery made by drilling through a known vein, we continued to see quartz in the country rock, so kept drilling and hit the Dakota vein. It has a significant amount of quartz and amethyst. Another vein discovered was a 10 metre intersection with significant quartz. One of the smallest veins, 0.70 of a metre was over 90% quartz.
“We know that the geological system at the Tabasquena vein cluster has high-grade precious metals from historical mining by Penoles and our own drilling. The thickness of the veins close to surface, the amount of veins in a small area, the quartz in the veins and in the country rock, the thick zone of highly silicified andesite, are all indications that we are chasing a large geological system. We still have more drilling to do in order to understand the grade zonation along strike and at depth, but with a large cluster of epithermal vein intersections to test, we are off to a great start. Looking forward, phase 3 drilling should be a series of holes that drill down 500-700 metres deep to get into the guts of the precious metals horizon in our cluster of veins.
The Tabasquena project has exceptional infrastructure with paved road access, power lines going through the claims and is located in the Veta Grande trend, it can be drilled year round and is a low cost exploration project.”
Pictures of key intersections, the table of assays for phase 2 drilling, cross sections and a plan map can be found with this news release on the Advance Gold website and in the Tabasquena project section as well.
Julio Pinto Linares, PGeo, is the qualified person responsible for this release and has supervised the preparation, and approved the preparation of the scientific and technical disclosure contained within the 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 13.5% interest on strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 86.5% 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]
Corporate website: www.advancegold.ca
Nicosia Capital
Investor Relations
[email protected]
