Angel Gold Corp.: Option Payment Made on the El Porvenir Gold Property
Line Cutting For Geophysical Surveys And Soil Sampling Have Been Completed On Three Major Target AreasVANCOUVER, Dec 5, 2016 - Angel Gold Corp. (TSX VENTURE:ANG) ("Angel" or the "Company") is pleased to announce that it has made the second payment of USD$100,000 in connection with its Option Agreement dated November 14, 2014 with Mineros S.A on the El Porvenir property in Colombia where exploration field work is progressing.
The programmed line cutting for the proposed IP and ground magnetics geophysical programs have been completed and the topographic profiles are being finalized. A combined total of 511 sites were soils sampled at the Iguanacito and Guayabales grids. These samples will be submitted along with 56 quality control samples for preparation at ALS sample preparation facility in Medellin Colombia and assayed at the ALS facility in Lima, Peru.
To view Figure 1: Map of Proposed Surveys and Geophysics Lines, please visit the following link:
http://media3.marketwire.com/docs/1078849AngelGoldCorp.jpg.
350 soils samples were collected at the Iguanacito Prospect, where sample spacing was 25m over the central third of the grid, and 50m spacing over the margins of each line. 39 QAQC samples will be submitted along with the primary soils samples. Line spacing is 100m for the seven southeastern lines, opened to 200m line spacing for the 5 northwestern lines. A total of 13.75 line kilometers will be surveyed geophysically.
161 soils samples were collected at Guayabales Prospect at 50m sample spacing along six, 200m spaced lines. These samples will be submitted along with 17 QAQC samples. Three of the northeastern most lines were shortened at one end due to temporary land access restriction, but these line shortenings will not affect the coverage of the main target of the survey. A total of 7.85 line kilometers will be surveyed geophysically.
At the Abejero vein prospect a single 1,400m line was cut parallel to the strike of the vein to test the down dip continuation of the two mineralized shoots there. No soils samples were collected. This 1.4 line kilometers will be surveyed geophysically.
About Angel Gold Corp
Angel is a Canada-based gold and silver exploration company focused on responsible development of mineral resources in Colombia, host to some of the world's largest gold deposits. Angel has been focused on acquiring and validating strategic mineral exploration opportunities in Colombia's best mining districts with the highest potential for new discoveries.
On Behalf of the Board of Directors of Angel Gold Corp.
Blanca Stella Frias
Director, President and Chief Executive Officer
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.
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.
For investor relations please contact:
Angel Gold Corp.
+57 321 427 6977
+1 (360) 650-1440
info@angelgoldcorp.com
Angel Gold Corp.
604-684-6264
604-684-6242
info@angelgoldcorp.com
www.angelgoldcorp.com