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Angel Gold files El Cafetal report advising drilling

2013-01-08 11:21 ET - News Release

 

Ms. Stella Frias reports

ANGEL GOLD: ANNOUNCES FILING OF INITIAL NI 43-101 TECHNICAL REPORT FOR THE EL CAFETAL PROJECT

Angel Gold Corp. has completed the initial National Instrument 43-101 technical report for the company's El Cafetal project in Colombia by Paul Pelke, certified professional geologist (AIPG), California registered geologist and qualified person under the guidelines of National Instrument 43-101. A copy of the technical report titled "NI 43- 101 Technical Report on the El Cafetal Concession, Department of Antioquia, Republic of Colombia" and dated January 2, 2013 has been filed and is available on www.sedar.com. In the report, Mr. Pelke presents the compiled data from sampling of the underground mine workings on the property, the Mobile Metal Ion (MMI) soil sampling program and the geophysical program, comprised of Induced Polarity and Resistivity surveys and a magnetic field survey. He concludes that the exploration conducted to date indicates that the property merits a serious drilling program and proposes a budget of USD $751,550 for an initial phase of 2,000 meters of drilling and if results warrant a second phase of drilling 3,800 meters budgeted at USD $1,348,950 for a total of $2,100,500 for the 2013 drilling program.

"I am pleased that we have received and filed the initial 43-101 technical report for our El Cafetal gold project, which is a drill-ready property with all drilling permits currently in place. Initial drill sites and access trails have been completed and we look forward to advancing the initial drilling program in an expeditious manner. The property covers approximately 1,300 meters of strike length of an east-west trending zone of subparallel, sheeted gold veins and has never been drilled before" stated Stella Frias, President and CEO of Angel Gold Corp.

Mr. Paul A. Pelke, a Qualified Person under NI 43-101 and a consulting geologist to the Company has reviewed the content of this press release.

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