Kamloops, British Columbia–(Newsfile Corp. – December 29, 2020) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to report drilling results from ongoing drilling at its 100% owned Tabasquena project in Zacatecas, Mexico. The results are from the company’s flagship property that is investigating a 3500m long continuous high chargeability Induced Polarization (IP) anomaly.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “Three holes were completed near hole AGT-15 which previously reported a high-grade hit of 2.15m of 664.g/t silver. The most recent holes in the southern domain of the claims appear to extend the mineralization in veins to over 1000 metres. At the nearby MAG Silver mine, the highest grades were intersected several hundred metres deeper than where we have drilled the veins at Tabasquena. Our next focus will be to drill significantly deeper to test this depth potential, with drilling to begin shortly.”
| Hole # | East WGS84 | North WGS84 | Elevation m | From m | To m | Ag g/t | Core Length m |
| AGT-15 | 786,535 | 2,495,995 | 2,093 | 44.07 | 44.4 | 122.44* | 0.33 |
| 48.45 | 56 | 5.79 | 7.55 | ||||
| 70.41 | 74.09 | 9.64 | 3.68 | ||||
| 98.89 | 105 | 10.54 | 6.11 | ||||
| 107.68 | 114.83 | 86.48 | 7.15 | ||||
| including | 112.6 | 114.83 | 197.75* | 2.23 | |||
| 120.44 | 122.59 | 664.33* | 2.15 | ||||
* Previously reported, see news release dated October 5, 2020.
Drill Hole AGT-18
| Hole # | East WGS84 | North WGS84 | Elevation m | From m | To m | Ag g/t | Core Length m |
| AGT-18 | 786,615 | 2,496,010 | 2,092 | 63.6 | 68.1 | 138.55 | 4.5 |
| including | 65.8 | 68.1 | 239.99 | 2.3 | |||
| 97.95 | 100.75 | 16.34 | 2.8 | ||||
| 116.34 | 120.1 | 16.59 | 3.76 | ||||
| 142.9 | 145 | 19.71 | 2.1 | ||||
| 166.15 | 168.35 | 12.05 | 2.2 | ||||
Drill Hole AGT-19
| Hole # | East WGS84 | North WGS84 | Elevation m | From m | To m | Ag g/t | Core Length m |
| AGT-19 | 786,640 | 2,496,015 | 2,092 | 69.1 | 78 | 21.1 | 8.9 |
| 85.3 | 86.85 | 36 | 1.55 | ||||
| 87.5 | 88.95 | 172.27 | 1.45 | ||||
| 98.45 | 99.25 | 382.64 | 0.8 | ||||
| 159.15 | 163.8 | 4.98 | 4.65 |
Drill Hole AGT-20
| Hole # | East WGS84 | North WGS84 | Elevation m | From m | To m | Ag g/t | Core Length m |
| AGT-20 | 786,670 | 2,496,021 | 2,091 | 151.9 | 153.1 | 40 | 1.2 |
| 193.85 | 204.9 | 5.76 | 11.05 |
The intervals indicated are drill intersections as there is not enough information at this time to define true widths of the mineralization.
Cross Section
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Drill core is logged and sampled in a secure core storage facility located near the Tabasquena claims at Ojocaliente, Mexico. Core samples from the drill holes are cut in half, using a diamond cutting saw, and sent to SGS Minerals in Durango, Mexico, for sample preparation and assaying. The Company relies on SGS Minerals for QA/QC procedures. All samples are analysed for gold using standard fire assay-AA (atomic absorption) techniques and ICP for all other metals.
Dr. Julio Pinto Linares is a qualified person, 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.
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. In addition, Advance Gold holds an 11.97% interest in strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 88.03% of the Kakamega project is held by Shanta Gold Limited (project previously owned by Barrick Gold Corporation, for details see Advance Gold News Release dated 2020-08-26).
For further information, please contact:
Allan Barry Laboucan,
President and CEO
Phone: (604) 505-4753
Email: [email protected]
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.
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