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Advance Gold Corp (2)
Symbol C : AAX
Shares Issued 30,848,124
Close 2019-09-17 C$ 0.11
Recent Sedar Documents

Advance Gold completes 10 drill holes at Tabasquena

2019-09-18 09:31 ET - News Release

Mr. Allan Barry Laboucan reports

ADVANCE GOLD PLANS ADDITIONAL DRILLING AND FURTHER GEOPHYSICS AT TABASQUENA PROJECT IN PROLIFIC ZACATECAS STATE OF MEXICO

Advance Gold Corp. has provided an exploration update on its Tabasquena gold and silver project in Zacatecas, Mexico. To date, 10 drill holes have been completed hitting widespread gold and silver mineralization in near-surface epithermal veins. Recently, a 3-D induced polarization survey was completed that identified a significant continuous chargeability anomaly, with an east-west width of approximately 250 metres and an apparent strike length of over 800 metres. This anomaly is located directly below the Tabasquena vein. The anomaly remains open to the north and to the south and at depth. A second-phase 3-D IP geophysical survey is scheduled to begin in the first week of October to extend the grid to the south.

The purpose of the extended grid to the south will be threefold: firstly it will establish the continuity of the anomaly to the south, secondly whether or not the target anomaly becomes shallower and lastly it will assist in positioning the upcoming drill hole locations. It is planned to commence drilling once the IP survey has been completed.

Allan Barry Laboucan, president and chief executive officer of Advance, commented: "Our exploration efforts at Tabasquena are coming together nicely with the past drilling and the recent IP geophysical survey. It is important to point out, the IP survey is meant to reveal sulphides through chargeability. The epithermal veins are low sulphidation and relatively small, and don't show up well in the IP survey, however, right below these veins is the large continuous chargeability anomaly of over 800 metres from north to south and approximately 250 metres from east to west. Before starting our next round of drilling, we wanted to extend the IP grid to the south, where the anomaly is closer to surface. There is a significant elevation change of approximately 300 metres from the northernmost line of the geophysical survey to the most southerly one. We have approximately 1,500 metres to the southern limits of our claims. The chargeability anomaly is open to the north, but due to the higher elevation and more cover it exceeds the depth limits of the IP survey. We are very excited to extend the grid to the south as that is the direction of the highest intensity of the chargeability and where it becomes closest to surface. The combination of the quality of Tabasquena and our various projects, our low share count and a tight share structure, with substantial insider ownership and tiny valuation, puts us in a unique position relative to our exploration-focused peers as the market for gold and silver are gaining strength."

Julio Pinto Linares is a qualified person, doctor in geological sciences with specialty in economic geology, and qualified professional No. 01365 by MMSA and QP for Advance Gold, and is the qualified person as defined by National Instrument 43-101, and he has read and approved the accuracy of technical information contained in this news release.

About Advance Gold Corp.

Advance Gold is a junior exploration company focused on acquiring and exploring mineral properties containing precious metals. The company acquired a 100-per-cent interest in the Tabasquena silver mine in Zacatecas, Mexico, in 2017, and the Venaditas project, also in Zacatecas state, in April, 2018.

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