VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/29/13 -- Angel Gold Corp. (TSX VENTURE: ANG) ("Angel" or the "Company") is pleased to announce that, by Resolution number 130HX-1304-6434 of April 22, 2013, the Colombian environmental authority Corporacion Autonoma Regional del Centro de Antioquia - Direccion Territorial Hevexicos "CORANTIOQUIA" issued the Water Concession needed to drill Buritica West. By receiving the water concession, the Company completes the permitting process to drill the property.
"The environmental authority Resolution is a very important step on the advancement of the Company plans to explore the property" stated Stella Frias, President and CEO of Angel Gold.
Buritica West, 326 hectare project is strategically located immediately adjacent to the Buritica Project of Continental Gold. Work completed by Continental Gold has identified a significant open ended high-grade gold/silver/zinc resource contained within the Yaragua and Veta Sur vein systems totaling approximately 1.58 million ounces of gold (measured and indicated categories at a 4 g/t cut-off as outlined in Continental's NI43-101 technical report dated November 15, 2012). These west to west southwest-trending vein systems are located immediately east of Angel Gold's Buritica West Gold Project.
Angel Gold's Buritica West Project is primarily underlain by the sheared, diked, veined and altered "Cataclastic Tonalite", the intrusive border phase of the Sabanalarga Batholith. Work completed to date by the Company includes a Mobile Metallic Ion soil sample program - an SGS Laboratories proprietary technique. Results have identified anomalous gold-silver zones immediately west of the Yaragua, Veta Sur and La Estera vein system locations, within the boundary of the Angel Gold Buritica West Gold Project. These anomalies are located along strike of the respective vein systems under development by Continental Gold. A strong northwest trending anomaly of up to 180 meters wide is located at the La Mina area in the east central portion of the project and will likely be the first drill target. A second zone located farther north at the San Agustin area is a follow up target. (Please review the relevant maps on the company website www.angelgoldcorp.com.) Only one third of the project has been evaluated and further reconnaissance is planned for the remaining areas.
Mr. James G. Burns, P.Eng, a Qualified Person under NI 43-101 and a technical consultant to the Company has reviewed the technical content of this press release.
About Angel Gold Corp.:
Angel is a Canada-based gold exploration company focused on responsible development of mineral resources in Colombia, host to some of the world's largest gold deposits. Angel has been working in Colombia for over three years and is advancing two main gold projects: the El Cafetal Gold Project and the Buritica West Gold Project. In addition, the Company continues its acquisition strategy in Colombia, having recently claimed over 6,800 hectares in four separate project areas.
On Behalf of the Board of Directors of Angel Gold Corp.
Blanca Stella Frias, Director, President and Chief Executive Officer
The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain "forward- looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
For investor relations please contact:
Contact Financial Corp.
Angel Gold Corp.
837 Hastings Street West, Suite 408
Vancouver, BC, Canada V6C 3N6
604-684-6264 Extn 2
Most Popular Stories
- Reid: Bundy Backers Are 'Domestic Terrorists'
- Ex-BP Employee Settles Insider Trading Charges
- Twitter Offers App Install Ads
- Hiring Fair for Veterans, Job Seekers
- Unemployment Rates Down, Job Gains Up in March
- 'Boats 'N Hoes' PAC Sunk by Complaint
- Natural Gas Shoots Up on Bullish Stockpile Report
- 8 Million Signups Put Obamacare Ahead of Predictions
- Judge Tells Dad to Quit Emailing His Kids in All Caps
- Naya Rivera and Lea Michele: The 'Glee' Fight That Never Was?