Advance Gold Corp. (TSXV: AAX) ("Advance Gold" or "the Company") is pleased to report that it will present pictures on its website of the entire drill hole intersection of the Tabasquena epithermal vein from recent drilling at its Tabasquena Silver Mine, located just outside of Ojocaliente, Zacatecas, Mexico. It should be noted that the photographs published are not representative of the overall mineralization on the property.
As announced in the May 17/18 news release, drilling has intersected 11 metres of the Tabasquena epithermal vein. In addition, a 60 metre intersection of Zacatecas red conglomerate was hit below 20 metres of cover.
The Company has prepared a cross section, to better visualize what has been encountered in the drilling. Additionally the second hole is now underway and a plan map has been prepared, which will be helpful to see how drilling is designed to cut the conglomerate unit and three veins, including along strike in the open direction of the Tabasquena vein, approximately 100 metres NE from the first drill hole.
The Company tried to overcome the challenging drilling at the end of the first hole, but have abandoned it, due to drilling problems, and moved the drill rig and started drilling the second hole. Once assay results from the first hole have been received and the second hole is completed, the plan will be to drill a third hole below the first hole. That would be done in order to determine the complete width of the vein and to test for continuity of grade in the sulphide zone.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: "Our exploration team, is very enthusiastic about what we have encountered with the first hole drilled into the sulphide zone of the Tabasquena epithermal vein. We have prepared a cross section of the discovery drill hole, as well as a plan map, and are including images of the entire intersection of the sulphide zone of the Tabasquena vein. You can find these maps and pictures added to this news release on the Company's website at www.advancegold.ca. This will help our shareholders and interested groups to better understand what we have drilled into and to get an idea of our goals for our second hole as well as see the core of the discovery hole. We delivered the core to ALS in Zacatecas, Mexico and, once prepared for assaying it will be sent to an ALS lab in Canada. The assays from the first hole will help us prioritize future drill holes. We are a small company with relatively few shares outstanding and a very modest public float and as a result any new discovery made by the Company may have a significant impact on it. It is exciting times for Advance Gold and our Tabasquena Silver Mine in Ojocaliente, Mexico."
The core of the conglomerate and vein from drilling on hole one have been submitted to ALS lab in Zacatecas, Mexico for sample preparation and assaying will be completed in an ALS lab in Canada. Assay results for the first hole are expected shortly.
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 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 a "shadows of a headframe" project, adjacent to Teck's San Nicholas mine, a VMS deposit, and it is approximately 11km to the east of 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
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.
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