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Advance Gold (TSXV: AAX) Recovers High-Grade Silver from Underground Sampling And Starts Drilling at Tabasquena Silver Mine In Ojocaliente, Mexico

 

Vancouver, British Columbia - April 11, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Advance Gold Corp. (TSXV: AAX) ("Advance" or "the Company") is pleased to announce promising underground sampling results from its Tabasquena Silver Mine, in Ojocaliente, Mexico. Follow up drilling is now underway, with a first phase, which will be 500 metres of core drilling on two holes of 250 metres each. The goal of the drilling will be to get approximately 100 metres below the oxide zone, of the main Tabasquena vein and into the La Nina vein beside it, well into the sulphide zone of these two epithermal veins.

Highlights of Underground Sampling

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: "It is evident from our underground sampling, that we are hitting the ground running at our Tabasquena silver mine. Which is a 'shadows of a headframe' project located near the Milagros mine headframe 6.5 kms away. Using the old underground workings at Tabasquena, we were able to get in to take samples from various different levels in the oxidized zone . Highlights include that, even in the oxide zone of the Tabasquena epithermal vein, we are seeing solid grades. This is not a surprise, as the historical mining by Penoles was confined to the oxide zone. One of the main goals of the sampling was to get deeper into the oxide zone and into the transition and sulphide zones. It is from those deeper samples we recovered the highest grades, with two samples of well over a half kilogram per tonne of silver. Our team is thrilled with these results and are happy to begin drilling into the sulphide zone of the Tabasquena and La Nina epithermal veins. There has been no historical mining or drilling into the sulphide zones of these veins."

Phase One Drilling

Two holes are planned, each of 250 metres, using a core drilling rig. The holes will be angled holes, with a goal to intersect the veins well into the sulphide zone.

Historical work completed by Penoles, included an IP survey and underground mining. Although this information is historical in nature on, it will be used by the company for drill hole selection. Along with the assistance of results from recent underground sampling.

The past underground mining will be of particular assistance as it maps out a good portion of Tabasquena vein, in the oxide zone. One of the two drill holes will be drilled below into the sulphide zones of the epithermal vein.

Beside the Tabasquena vein is the La Nina vein where much less historical work has been done. The historical IP survey seems to pick up both veins and will be used to help in selecting drill hole locations.

Surface sampling at La Nina will also be completed prior to drilling to further assist in drill hole orientation.

Underground Sampling Details

A total of 18 samples were taken, from various levels, in the table below you will find the grades for gold, silver, lead and zinc.

Table of Results


Channel samples were taken perpendicular to the vein strike, samples of 2 kg where recovered and secured in sample bags under the supervision of the qualified person for the program. Samples were delivered to Laboratorio Metalurgico Courtade, in San Luis Potosi, Mexico by the qualified person. Samples were assayed using fire assay for gold and silver, and atomic absorption for lead and zinc.

Julio Pinto Linares, PGeo, is the qualified person responsible for this release and has prepared, supervised 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 has acquired a 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico in 2017. 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.

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.

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.


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