Advance Gold Corp. (TSXV: AAX) ("Advance Gold" or "the Company") is pleased to report on the phase 2 drilling at the Tabasquena Silver Mine, near Ojocaliente, Mexico. Three holes drilled below the near surface oxide zone of the Tabasquena vein, the two furthest apart being 125 metres along strike. Another exciting development includes the discovery of 5 new epithermal veins, that are blind discoveries found below the Tabasquena vein.
Highlights of Phase 2 Drilling
- Increasing amount of quartz over Phase 1 as drilling deeper
- Tabasquena vein drilled in 3 spots across 125 metre strike
- AGT-05 hit 3 new epithermal veins below Tabasquena vein
- AGT-06 hit 2 new epithermal veins below Tabasquena vein
- From phase 1 and 2 drilling a total of 9 epithermal veins drilled
- 5 new epithermal veins are blind discoveries with no surface expression nor geophysics
- Assays are pending
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “The Tabasquena project is in a region renowned for world-class mines, primarily from epithermal veins. In our first 7 holes on the project, we have drilled the known Tabasquena vein, which had historical silver production in the oxide zone, drilling below the historical mining workings is where we found our high-grade gold discovery, Drilling in phase 1 and 2 have tested deeper at the Tabasquena vein, discovered 8 other epithermal veins, 5 of the new discoveries completely blind, no surface outcropping vein nor geophysical expression. Our exploration team is excited about the prospects of finding a cluster of epithermal veins, in such an important region for mining epithermal veins containing precious metals. It is also important to point out that we are finding thick epithermal veins much closer to surface than in many of the discoveries in the region, and have also hit high-grade gold at the top of the system. We are delighted with the discovery of a cluster of epithermal veins, that gives us the opportunity to test all 9 veins into the precious metals horizon. We are also looking forward to the assay results from our recently submitted core from phase 2 drilling as we found a lot higher percentage of quartz in the veins from the deeper drilling.”
For more information on drilling at the Tabasquena project, please visit the Tabasquena section, under projects, on the Advance Gold website. Phase 2 drilling cross sections, plan map and drill core pictures will be posted on the website once the assays have been completed and announced.
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. (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 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
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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