Kamloops, British Columbia–(Newsfile Corp. – July 23, 2020) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to announce drilling is underway at its Tabasquena project in Mexico. Drilling will focus on a key area of a 3200 plus metre continuous chargeability anomaly, where there is a Hinge zone in the anomaly and then it drops vertically beyond the detection limits of the geophysical survey.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “After we identified a 3200 plus metre continuous chargeability anomaly with an IP geophysical survey, we drilled 3 holes into the southern end of the anomaly where it is the shallowest. Out there we hit stacked layers of disseminated sulphides. Now we are stepping back approximately 3000 metres to the north end of the anomaly. At this drill location the geophysical anomaly has a Hinge zone and then drops down beyond the detection limits of the geophysical survey. The image below captures the large geophysical anomaly, where we drilled the first 3 holes and hit stacked layers of disseminated sulphides and drill hole 16 where we are targeting the Hinge zone of the anomaly. Our interpretation is that this northern portion of the anomaly is the potential plumbing system for what appears to be a very large sulphide system.”
Figure 1
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. (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 well located adjacent to Teck’s San Nicolas 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 12.59% interest in strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 87.41% of the Kakamega project is held by Barrick Gold Corporation.
For further information, please contact:
Allan Barry Laboucan,
President and CEO
Phone (604) 505-4753
www.advancegold.ca
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
