Antioquia Announces Cisneros Project Update
CALGARY, ALBERTA--(Marketwired - Dec. 5, 2016) - Antioquia Gold Inc. ("Antioquia" or the "Company") (TSX VENTURE:AGD) wishes to report on progress at its Cisneros Project in Colombia. The receipt of Antioquia's final environmental permit has triggered a flurry of activities at Cisneros, all directed towards bringing a mine into production in the shortest time frame possible. The following is a summary of additional milestones that have been achieved at the Cisneros Project:
- Underground Work Activities - Progress to end of November:
- The main access ramp has advanced to a total length of 922m and reached an elevation of 1165 a.s.l., some 110 m below the mine portal. The contractor is now consistently meeting the planned target of 300m of advance per month;
- The underground explosives magazine has been completed and will be commissioned this month, replacing the one on surface thereby enhancing overall security;
- The access tunnel to the Manuela structure continued its advance and intersected the main Manuela vein on November 17;
- Neither the Manuela nor Nus vein structures were previously included in the mine plan for the Guaico area.
- Other Activities
- The permanent bridge over the Nus River is complete;
- The raise bored ventilation shaft is complete and functioning;
- An underground diamond drilling program is planned to further delineate resources at Guaico, Manuela and Nus and will be initiated in January.
- Guayabito South Drilling - The Company has initiated a 450m diamond drill program which is intended to link the most recent drill results on this property to the resources on the original Guayabito structure and bring them from an inferred category into indicated. Once these results have been obtained, along with results from the Guaico area underground drilling, the Company plans to review and update its original NI 43-101 resource report. This should be complete by the end of the 1st Qtr of 2017'
- Guayabito Mine - The mine plan has been revised to take advantage of the most recent knowledge of Guayabito South with the portal now located approximately 50m lower than previously providing more efficient access. A mining contract has been awarded to the same contractor that is developing the Guaico deposit. Work has commenced on the access road to the portal and actual tunnelling should begin before the end of this month;
- Process Plant - Detailed engineering is now complete and the following equipment is to be delivered as follows:
- 500 tpd jaw crusher - December 2016
- Vibrating feeder - December 2016
- Cone crusher - December 2016
- Vibrating screen - December 2016
- Ball mill, 10' X 8 - January/February 2017
- Civil Works - Final quotes are being evaluated for all civil works associated with the construction of the sites for the process plant, shop, warehouse and other related infrastructure. The contracts associated with these works are expected to be awarded within the next 2 weeks;
- Land Acquisition - All key surface rights necessary for the operation have been acquired with some minor rights-of-way still to be finalized;
In summary, the project is advancing well and production is anticipated by management in the second half or 2017 based on internal estimates.
Further information and photographs can be found on the Company's website www.antioquiagoldinc.com.