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Angel Gold Corp (2)
Symbol ANG
Shares Issued 49,290,915
Close 2016-12-02 C$ 0.105
Market Cap C$ 5,175,546
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Angel Gold makes option payment on El Porvenir

2016-12-05 10:43 ET - News Release

Ms. Stella Frias reports

OPTION PAYMENT MADE ON THE EL PORVENIR GOLD PROPERTY; LINE CUTTING FOR GEOPHYSICAL SURVEYS AND SOIL SAMPLING HAVE BEEN COMPLETED ON THREE MAJOR TARGET AREAS

Angel Gold Corp. has made the second payment of $100,000 (U.S.) in connection with its option agreement dated Nov. 14, 2014, with Mineros SA on the El Porvenir property in Colombia where exploration fieldwork is progressing.

The programmed line cutting for the proposed induced polarization 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.

Three hundred fifty soils samples were collected at the Iguanacito prospect, where sample spacing was 25 metres over the central third of the grid and 50 m spacing over the margins of each line. Thirty-nine quality assurance/quality control samples will be submitted along with the primary soils samples. Line spacing is 100 m for the seven southeastern lines, opened to 200 m line spacing for the five northwestern lines. A total of 13.75 line kilometres will be surveyed geophysically.

One hundred sixty-one soil samples were collected at Guayabales prospect at 50 m sample spacing along six, 200 m spaced lines. These samples will be submitted along with 17 QA/QC 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 kilometres will be surveyed geophysically.

At the Abejero vein prospect, a single 1,400 m line was cut parallel to the strike of the vein to test the downdip continuation of the two mineralized shoots there. No soils samples were collected. These 1.4 line kilometres will be surveyed geophysically.

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