/EINPresswire.com/ -- VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/15/16 -- Angel Gold Corp. (TSX VENTURE: ANG) ("Angel" or the "Company") is pleased to announce that an 80m wide soil silver anomaly of greater than 200ppb Ag (peak value of 360ppb Ag) has been encountered extending the potential of the Iguanacito Prospect further along strike to the northwest after a gap of approximately 250m with essentially no outcrops and relatively weak surficial gold-silver response. These results are of the same tenor as those obtained in the initial 2015 soils line over the discovery outcrop at Iguanacito. An Induced Polarization geophysical program is being planned to test at depth and along strike of the high-grade silver and gold mineralization discovered in Angel's surface exploration program in the area to confirm the potential size and continuity of the exploration target.

Though high-grade silver anomalies were encountered, there was no significant gold response obtained in the current sampling - with a peak gold in soils value of only 10.9 ppb within the sampled area. Significantly, however, artisanal prospecting pits have been located within the area of the silver soil anomaly.

A table showing all gold and silver soils results is included as Table 1 at the end of this release.

"We are highly encouraged with the soils results indicating a second zone of mineralisation along strike from the currently identified Iguanacito zone," says Stella Frias, President and CEO of Angel Gold Corp. "We are now planning a geophysics (Induced Polarization) program to test for subsurface targets in the silver rich Iguanacito area. We believe that this will confirm additional mineralized zones at depth and support a much larger opportunity than what is visible from the high grade silver surface samples."

Mineralization along veins and structures commonly occurs discontinuously in high grade ore shoots separated by low grade or barren intervals of vein/structure, so the apparent gap in interesting response at the surface is common where much larger and contiguous mineralized zones may exist below surface.

This soil sampled area is generally underlain by the same quartz-rich rocks (quartz diorite and granodiorite) that host the majority of the intense quartz sericite and silica alteration throughout the Iguanacito Prospect. However an outcrop of non-weathered low-quartz felsic diorite intrusive was located flanking the main anomalous soils response, with the mafic (dark minerals) phase of this rock having been almost totally destroyed and heavily replaced by pyrite (sulfidation). This confirms there having been a flow of sulphur-rich fluids through the rock, which often indicates proximity to more intense alteration and mineralisation. This intrusive is very different to the more quartz-rich intrusives that host the bulk of the sericitisation and mineralization at Iguanacito, and may represent a younger phase. It is considered highly encouraging to find a sulfidised intrusive present within the mineralized system, where the source of the alteration is thought to be from a younger intrusive phase.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/angel_gold_corp_aug15_2016_figure1.pdf

Significance of the results

The high silver and gold values returned to date at Iguanacito occur to the southeast of an indicated northeast trending offsetting fault. Some difficulty had been encountered in locating and tracing the continuations of the two specific mineralized alteration zones northwest of this indicated fault (with additional minor vertical faulting being suspected) and work is currently ongoing in this area between the soils lines and the fault, with highly encouraging pyritic zones being encountered (results pending) in trenching (trench 10-extended and trench 21). It is possible that this fault offset occurs at a slight flexure in the structure resulting in a slight change of strike direction on the northwest side of the fault. The accompanying map shows the located exposures of alteration northwest of the fault without any interpretation attempting to link them.

The most northwestern rock results received to date, including from two recently discovered heavily overgrown artisanal miner adits, and shown on the soils silver result map above, are geologically encouraging. The best result of 0.5m @ 0.94 g/t Au 56.5 Ag was in an adit driven on a quartz stockworked silicified zone containing a central 15cm pyritic quartz vein, the stockworked silicified zone itself being hosted in intensely sericitised granodiorite. Sampling from the previously reported (press release dated 20 June 2016) trench 11 returned 2.85m @ 0.05g/t Au, 9.26g/t Ag within the same alteration zone. A single sample from an adit in the parallel northern zone returned a barren assay, whilst a newly discovered third alteration zone, a further 60m southwest of the previously identified zones, is an intense sericite alteration zone, contained no visible mineralization in the exposure and wasn't sampled.

All new and previously reported rock samples in this area are included as tables 2 and 3 respectively at the end of this release.

The original ridge and spur soils silver anomaly over the Iguanacito discovery outcrop was 120m @ greater than 200ppb Ag (peak value of 7100 ppb Ag), within which was a coincident 50m wide gold anomalous core of greater than 20ppbAu, and tellurium values to a maximum of only 110ppb.

The presence of the 80m wide soil greater than 200ppb silver geochemical response on the furthermost sampling line could reflect the commencement of another zone of near surface mineralization along the continuation of the Iguanacito structure.

The 200ppb Ag anomaly is haloed by a zone of greater than 100ppb silver which also extends along the northeastern ends of the other two soils lines coincident with the indicated position of the currently known alteration zones (shown in figure 1) Values of tellurium in soils of this north-westernmost line are also consistently anomalous (average 247ppb, peak 560ppb) across the entire length of the line, extending over and flanking the soil silver anomaly. Elevated tellurium is typically seen within the El Porvenir tenements associated with areas of high gold and silver values, though with a much higher gold to silver ratio than has been generally been observed to date at Iguanacito.

The significant increase of width (greater than 210m) of the 100ppb silver anomaly with an 80m wide core of greater than 200ppb Ag, the association with elevated tellurium, as well as the presence of sulfidised intrusive (a younger phase of intrusive?) warrants a continuation of the soils sampling to the northwest, followed by pitting and trenching. The general similarity of soil element values over the discovery outcrop of Iguanacito with the soil anomalism reported here confirms the significance of this soil indicated mineralized zone extension and justifies the need for further sampling along strike to the northwest.

Sampling

Two northeast-southwest trending soils lines were cut and sampled at distances of 100m and 300m respectively to the northwest of an intensely sericitised outcrop in a stream bed (Agorobo Creek), currently the northwesternmost mapped extent of the Iguanacito alteration zones. Additionally the crest of a northwest trending ridge occurring between these two cut lines was also sampled.

Sampling was at 10m intervals, and was taken from the uppermost B Horizon, with vegetation and the humic A horizon being removed and sampling of generally the top 5cm only of the underlying saprolite/soil. Coarse material was removed by hand (or 3mm screen, where possible). Samples were submitted as a single batch, and were dried, disaggregated and sieved to -80# (177micron) at ALS Laboratories in Medellin.

Analysis / Quality Control and Quality Assurance

Soil samples were submitted to ALS Medellin for preparation and assayed by ALS Peru. Samples were prepared using method PREP-41 with drying at less than 60 degrees C/140F and sample sieved to -180 micron (80 mesh). The soil geochemical assay package ST43-PKG was used, with Au by 25g aqua regia digestion and ICP-MS finish, paired with multi-element aqua regia digest super trace 51-element ICP-MS. There were no overlimits to reassay. Angel Gold submitted blanks and field duplicates with the sample batches as part of its QAQC program.

Rock samples were submitted to ALS Medellin for preparation and assayed by ALS Peru. Gold was determined using Fire Assay AA finish (method Au-AA23), with gold samples greater than 10 g/t being reassayed by Fire Assay Gravimetric Finish (method Au_GRA21). Silver was determined by 51 element ICP-MS (method ME-MS41) with silver greater than 100g/t samples being re-determined by atomic absorbtion (method Ag-OG46). Angel submitted blanks, duplicates and standards with the sample batches as part of its QAQC program.

Qualified Person

Mr. James G. Burns, P.Eng, a Qualified Person under National Instrument 43-101 standards and a technical advisor to the Company has reviewed and approved the technical information contained in this news release.

About Angel Gold Corp.:

Angel is a Canada-based gold and silver exploration company focused on responsible development of mineral resources in Colombia, host to some of the world's largest gold deposits. Angel has been focused on acquiring and validating strategic mineral exploration opportunities in Colombia's best mining districts with the highest potential for new discoveries.

On Behalf of the Board of Directors of Angel Gold Corp.

Blanca Stella Frias, Director, President and Chief Executive Officer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain "forward- looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.

TABLE 1:
ALL SOIL SAMPLE RESULTS FOR SELECTED ELEMENTS
----------------------------------------------------------------------------
                                      Au    Ag    Te    Se    Cu    Pb    As
SampleID     East  North      RL     ppb   ppb   ppb   ppm   ppm   ppm   ppm
----------------------------------------------------------------------------
B00301     538472 777168     659     1.3    80    50     2   8.3   4.7   3.8
----------------------------------------------------------------------------
B00302     538478 777176     656     1.5   130    30   1.9   8.4   5.7   8.1
----------------------------------------------------------------------------
B00303     538485 777183     652     2.6   260    30   1.7   5.9   5.1  22.2
----------------------------------------------------------------------------
B00304     538491 777191     649     1.1    30    30   1.4   4.7   5.5   3.1
----------------------------------------------------------------------------
B00305     538497 777199     646     2.5    50    40   1.3   9.4  15.2   3.7
----------------------------------------------------------------------------
B00306     538504 777206     646     3.1   150    40   1.8   7.9   7.2   4.8
----------------------------------------------------------------------------
B00307     538510 777214     645     1.3    90    50   1.4   4.8   5.7   3.8
----------------------------------------------------------------------------
B00309     538517 777222     648     1.5   160    40   1.5   3.2   4.1   2.8
----------------------------------------------------------------------------
B00310     538523 777229     643     1.8   100    60   1.2   4.5   5.1   4.4
----------------------------------------------------------------------------
B00311     538530 777237     640     1.4   200    40   1.5   3.8   4.9   4.4
----------------------------------------------------------------------------
B00312     538465 777160     658     1.1   130    40   1.9  10.1     5   3.2
----------------------------------------------------------------------------
B00313     538458 777153     654     1.3   110    40   1.6   8.9   5.5     3
----------------------------------------------------------------------------
B00314     538452 777145     647     0.7    30    10   0.5   9.6   6.9   1.1
----------------------------------------------------------------------------
B00315     538445 777137     648     1.7    90    30   1.5     4   3.8   2.2
----------------------------------------------------------------------------
B00317     538439 777130     645     1.6    70    60   1.3   3.5   3.3   2.1
----------------------------------------------------------------------------
B00318     538432 777122     647     1.3    90    70   1.4   4.3   3.9     2
----------------------------------------------------------------------------
B00319     538426 777114     650     1.5    60    70   1.7   1.7   3.1   3.9
----------------------------------------------------------------------------
B00320     538420 777107     652     1.6    80    30   1.4   2.8   4.5     5
----------------------------------------------------------------------------
B00321     538413 777099     658     1.4   140    30   2.3   3.3     4   5.1
----------------------------------------------------------------------------
B00322     538407 777091     661     1.6    90    30   1.6   2.9   5.5   5.1
----------------------------------------------------------------------------
B00323     538400 777084     664     5.3    80    40   1.6   5.1   6.9  12.4
----------------------------------------------------------------------------
B00324     538394 777076     667     2.2    60    50   1.7   9.5   7.2   7.9
----------------------------------------------------------------------------
B00326     538428 777203     678     4.6    80    40   2.9   4.5   3.7   3.7
----------------------------------------------------------------------------
B00327     538419 777200     680    10.9    70    50   2.2   3.5   3.1   3.3
----------------------------------------------------------------------------
B00328     538409 777198     681     3.1    70    30   1.8   2.6     3   4.1
----------------------------------------------------------------------------
B00329     538400 777194     681       4    50    30   1.8   2.6   3.3   7.6
----------------------------------------------------------------------------
B00330     538393 777186     681     3.8    30    50   1.8     3   3.5   4.1
----------------------------------------------------------------------------
B00331     538386 777179     680     4.6    70    60   2.2   2.6   3.6     4
----------------------------------------------------------------------------
B00332     538384 777169     680     3.5    50    40   2.1   1.8   3.2   4.3
----------------------------------------------------------------------------
B00333     538380 777160     681     3.8    60    50   2.1   1.6   3.3     4
----------------------------------------------------------------------------
B00334     538373 777154     680     5.5    40    70   2.3   1.7   4.2   8.6
----------------------------------------------------------------------------
B00336     538366 777145     680     6.3    50    30   1.6   1.7   2.2   5.9
----------------------------------------------------------------------------
B00337     538364 777136     680     3.2    50    40     2   1.8   2.5   5.3
----------------------------------------------------------------------------
B00338     538366 777126     680     4.6    60    30   1.9   1.9   1.9   6.4
----------------------------------------------------------------------------
B00339     538369 777116     678     3.9    70    40   2.2     2   2.4   5.2
----------------------------------------------------------------------------
B00340     538370 777106     678     2.5    60    50     2   1.5   2.4   6.7
----------------------------------------------------------------------------
B00341     538371 777096     676     2.3    40    50   1.7   1.4     3   8.9
----------------------------------------------------------------------------
B00342     538373 777086     674     2.5    40    40     2   3.9     5  12.4
----------------------------------------------------------------------------
B00343     538437 777209     675     2.3    90    40     3   3.2   4.3   3.5
----------------------------------------------------------------------------
B00344     538446 777213     673     2.9    90    40     3   6.1   4.1   3.6
----------------------------------------------------------------------------
B00346     538456 777214     671     1.6    70    40   2.3   3.8   2.9   2.9
----------------------------------------------------------------------------
B00347     538463 777221     668     2.3    80    40   2.1   4.2   3.6   3.1
----------------------------------------------------------------------------
B00348     538472 777226     666     3.9   100    40   2.2   3.1   3.6   3.4
----------------------------------------------------------------------------
B00349     538481 777231     665     8.2   160    30   2.1   5.2     6     4
----------------------------------------------------------------------------
B00350     538489 777237     663     2.4   150    40   2.3     7   5.3   4.4
----------------------------------------------------------------------------
B00351     538491 777247     661     1.6    70    40   1.5   4.1   3.1   4.3
----------------------------------------------------------------------------
B00352     538496 777255     659     1.6   100    30   1.3   3.5   3.3   3.1
----------------------------------------------------------------------------
B00353     538503 777263     659     5.8   120    20   1.6  14.4   6.5   3.1
----------------------------------------------------------------------------
B00354     538509 777271     659     1.9    90    30   1.2  25.3   8.8   2.3
----------------------------------------------------------------------------
B00356     538518 777275     659     4.6   130   270   2.4  34.7   8.5   3.8
----------------------------------------------------------------------------
B00357     538357 777314     632     2.2   150   170   1.7   4.3   3.3   8.3
----------------------------------------------------------------------------
B00358     538350 777306     632     4.5   220   190   1.4   7.7    11  11.4
----------------------------------------------------------------------------
B00359     538344 777298     632     3.3   360   220   1.7  10.3   4.4  19.8
----------------------------------------------------------------------------
B00360     538337 777291     633     5.1   300   210   1.6   9.6   5.3  23.2
----------------------------------------------------------------------------
B00361     538332 777284     636     4.2   340   120     1   4.7   4.8  13.6
----------------------------------------------------------------------------
B00362     538325 777276     641     1.9   270   100   1.2   4.8   4.6     7
----------------------------------------------------------------------------
B00363     538319 777269     649     2.5   310   180     2     3   3.8     7
----------------------------------------------------------------------------
B00364     538312 777261     653     2.7   200   200   2.6   2.5   3.6   6.8
----------------------------------------------------------------------------
B00366     538306 777253     653     2.5   220   220   2.4   2.7   3.4   6.8
----------------------------------------------------------------------------
B00367     538299 777246     654     1.6   160   180   2.3   2.5   3.1   5.8
----------------------------------------------------------------------------
B00368     538293 777238     648     1.8   150   290     2  11.7   4.6   4.6
----------------------------------------------------------------------------
B00369     538280 777223     653     3.3   110   390   2.3  24.1   6.8   9.3
----------------------------------------------------------------------------
B00370     538274 777215     656     3.6    90   450   2.9  19.3   6.9   9.8
----------------------------------------------------------------------------
B00371     538267 777207     660       3   100   560   2.9  11.7   7.5   7.3
----------------------------------------------------------------------------
B00372     538261 777199     663     2.5   110   250   2.9   9.9   6.3     5
----------------------------------------------------------------------------
B00373     538254 777192     668     2.5    90   250   2.7     6   4.4   3.3
----------------------------------------------------------------------------
B00374     538363 777321     629     3.2   160   140   2.1     3   3.5   8.6
----------------------------------------------------------------------------
B00376     538370 777329     626     2.1   110   160   2.2     3   3.5   5.5
----------------------------------------------------------------------------
B00377     538376 777337     624     2.7   180   150   1.8   3.2   3.1   5.5
----------------------------------------------------------------------------
B00378     538382 777344     620     2.3   210   240     2     5   3.7     7
----------------------------------------------------------------------------
B00379     538389 777352     612     2.2   130   260   1.7   4.7   3.5   5.4
----------------------------------------------------------------------------

TABLE 2
NEW ROCK RESULTS - NW CONTINUATIONOF IGUANACITO - CONTINUOUS CHIP ROCK
 SAMPLES
----------------------------------------------------------------------------
                                            Ag    As    Sb    Pb    Cu    Mo
Location     East  North  Length  Au ppm   ppm   ppm   ppm   ppm   ppm   ppm
----------------------------------------------------------------------------
Adit 6     538602 777135     0.5   0.941  56.5   960  5.83   201  17.2  1.36
----------------------------------------------------------------------------
Adit 6     538602 777135     0.8   0.035  0.77   711  1.88    26  19.1  0.48
----------------------------------------------------------------------------
Adit 6     538606 777131       1   0.011  0.74  60.9  0.46  22.2   2.8   0.8
----------------------------------------------------------------------------
Adit 7     538589 777092    0.95   0.005  0.28  43.3   0.2  45.9  17.6  1.75
----------------------------------------------------------------------------

TABLE 3
PREVIOUSLY REPORTED ROCK ASSAYS - TRENCH TCO-011 CHANNEL SAMPLES
----------------------------------------------------------------------------
                                            Ag    As    Sb    Pb    Cu    Mo
TrenchID     From     To  Length  Au ppm   ppm   ppm   ppm   ppm   ppm   ppm
----------------------------------------------------------------------------
TCO-011      0.10   0.90    0.80   0.019   0.2   7.3  0.07   6.5  39.1  1.89
----------------------------------------------------------------------------
TCO-011      0.90   1.70    0.80   0.005  0.37   7.7  0.08   6.8  12.4  0.61
----------------------------------------------------------------------------
TCO-011      1.70   2.55    0.85   0.008  0.73  10.8   0.1  13.7  39.6  0.64
----------------------------------------------------------------------------
TCO-011      5.50   6.50    1.00   0.005  9.63  29.8  0.18   8.1  51.3  4.98
----------------------------------------------------------------------------
TCO-011      6.50   7.50    1.00   0.012  4.91  42.5  0.25  13.6  40.8  3.45
----------------------------------------------------------------------------
TCO-011      7.50   8.35    0.85   0.136 13.95  51.4  0.26  39.8  56.7  1.03
----------------------------------------------------------------------------

Contacts:
For investor relations please contact:
+57 321 427 6977
+1 (360) 650-1440
info@angelgoldcorp.com

Angel Gold Corp.
#545 - 999 Canada Place
Vancouver, BC, V6C 3E1
604-684-6264
604-684-6242 (FAX)
info@angelgoldcorp.com
www.angelgoldcorp.com

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