Vancouver, November 6, 2018 -
Advance Gold Corp. (TSXV: AAX) ("Advance Gold" or "the Company") reports results for the 7th hole of drilling at the Tabasquena project, near Ojocaliente, Mexico. Over 30 epithermal veins have been discovered in the first 7 holes drilled below the oxide zone at the Tabasquena mine.
All but 2 of the veins discovered are blind, with no geophysical anomaly, nor do they come to surface. They were discovered through drilling at depth for known veins discovered in phase 1 drilling. They are confined to a side to side area of approximately 200 metres and 125 metres of strike. They all remain open along strike in both directions as well as at depth.
Drilling to date suggests a large epithermal vein cluster, phase 3 drilling is being planned to test deeper into the system in an attempt to locate the boiling zone of the various veins found to date.
AGT-07 Hole location details:
Bearing: N 40° E; Dip: -78°; Total Depth:351.50m. Coordinates: N 2'497,290 E 785,922.
Collar elevation: 2,065mosl.
Sampled Length Grade
From To Width Sample g/t ppm
Metres Metres Metres No. Au Ag Pb Zn Cu
134.65 134.85 0.20 8076 0.045 4.1 3770 10000 97
140.35 141.45 1.10 8077 0.005 0.3 5 86 51
141.45 142.55 1.00 8078 0.005 0.5 75 311 55
152.35 152.55 0.20 8079 0.019 1.3 73 286 50
169.45 170.50 1.05 8080 0.364 6.7 649 1035 232
214.75 214.95 0.20 8081 0.205 3.7 542 952 158
231.15 232.25 1.10 8082 0.012 1.1 112 108 31
232.25 233.35 1.10 8083 0.006 1.1 215 345 103
233.35 234.50 1.15 8084 0.005 1.3 319 381 88
234.50 235.65 1.15 8085 0.005 0.8 290 219 56
238.10 238.90 0.80 8086 0.005 0.9 303 460 55
240.00 240.68 0.68 8087 0.006 1.4 99 162 150
246.60 248.15 1.55 8088 0.005 0.6 74 329 39
248.15 249.45 1.30 8089 0.005 0.9 91 1390 234
254.20 255.40 1.20 8090 0.005 1.2 60 285 305
255.40 257.55 2.15 8091 0.005 09 41 109 82
259.85 260.45 0.60 8092 0.014 2.1 15 68 91
260.45 261.65 1.20 8093 0.015 2.1 24 60 64
261.65 262.85 1.20 8094 0.005 0.7 16 35 31
264.50 265.05 0.55 8095 0.005 0.8 23 32 72
265.05 266.20 1.15 8096 0.005 0.2 12 29 5
266.20 267.35 1.15 8097 0.005 0.2 31 83 3
267.35 268.40 1.05 8098 0.005 0.4 20 100 13
272.10 273.40 1.30 8099 0.005 02 2 81 27
273.40 274.85 1.45 8100 0.005 0.3 7 86 53
281.45 281.65 0.20 7201 0.005 04 4 30 24
286.70 287.85 1.15 7202 0.005 0.5 39 62 134
317.40 319.20 1.80 7203 0.005 0.2 2 92 55
324.00 324.25 0.25 7204 0.005 0.2 2 81 63
324.25 325.45 1.20 7205 0.005 0.3 4 67 118
326.45 327.10 0.65 7206 0.005 0.4 20 165 215
327.10 328.15 1.05 7207 0.005 0.2 2 92 102
329.90 330.45 0.55 7208 0.005 0.2 3 67 41
338.50 339.25 0.75 7209 0.005 0.3 4 86 64
347.80 348.25 0.45 7210 0.084 5 456 807 446
Note: All vein widths cut by drills holes are not true widths, they represent the intersection of the incline hole with the dip of the vein. Advance is in the process to estimate true widths for all the vein intersections.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: "Now that we have a handle on the size potential, we need to get a better understanding of the system with a view to locating the precious metal horizon. To date, we have hit anomalous to high-grade gold, and there was historical mining of silver by Penoles in the oxide zone of the Tabasquena vein. It is typical for precious metals to base metal zonation in these systems.
"Our exploration team looks forward to phase 3 drilling, our goal will be to test deeper into our cluster of epithermal veins. We are located in a world class region for epithermal vein mines, the cluster we have found holds good potential to reward our efforts."
Drill core is logged and sampled in a secure core storage facility located near the Tabasquena claims by Ojocaliente, Mexico. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to ALS Chemex in Zacatecas, Mexico, for sample preparation, then sent to ALS Chemex in Vancouver, Canada for assays. ALS Chemex is an accredited mineral analysis laboratory. All samples are analysed for gold using standard fire assay-AA (atomic absorption) techniques. The Company relies on ALS Chemex for QA/QC procedures and protocols for the assaying process.
Dr. Julio Pinto Linares is the qualified person for the Tabasquena project, since June 2018 when drilling began and throughout phase 2. Supervising drilling in the field for drill holes one through seven. He examined and reviewed core boxes in the field, supervised moving core boxes to the secure core storage facility located near the Tabasqueña mine. He was present during logging and sampling of the core, and kept control of all sample bags until delivered to the ALS Chemex Zacatecas, Mexico laboratory. He checked and was present during the QA/QC procedures and protocols during the preparation of the samples.
Julio Pinto Linares is a QP, Doctor in Geological Sciences with specialty in Economic Geology and Qualified Professional No. 01365 by MMSA., for Advance Gold and 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 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:
Advance Gold Corp.
Allan Barry Laboucan, President and CEO
Phone: (604) 505-4753
Email: allan@advancegold.ca
Corporate website: www.advancegold.ca
Nicosia Capital
Investor Relations
info@nicosiacapital.com
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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