|By Marketwired .||
|June 2, 2014 10:04 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/02/14 -- Aegean Metals Group Inc. (TSX VENTURE:AGN)(FRANKFURT:A91) ("Aegean" or the "Company") is pleased to announce the staking of two new exploration prospects in the main porphyry-epithermal belt of northern Chile's Region III. The Dona Ines and Exploradora East properties (the "Properties") were identified in February 2014, as part of a regional target generation program designed by the Company to locate covered porphyry and/or epithermal targets. The prospect areas were subsequently staked and are covered by a total of 7,700 Ha of active exploration claims: 3,300 Ha at Dona Ines and 4,400 Ha at Exploradora East.
The Dona Ines property is located within an underexplored, predominantly Miocene-age volcanic arc that extends from the northern limit of the Maricunga porphyry-epithermal belt to the Peruvian border. Recent discoveries within this Miocene-age belt include Gold Field Ltd.'s Salares Norte property (Inferred Resource of 23 Mt @ 4.2 g/t Au and 44 g/t Ag) and Pircas prospect (oxidized high sulfidation Epithermal system), which are located approximately 20 km E and 22 km SE of the Dona Ines property, respectively.
The Exploradora East prospect lies within the Eocene-age porphyry copper belt, and is located approximately 60 km NNE of CODELCO's El Salvador porphyry copper mine and 10 km E of CODELCO's Exploradora porphyry prospect. The target concept at Exploradora East is for the discovery of a porphyry copper system at the intersection of prominent NE-trending structures and the main NS-trending porphyry belt.
As the Dona Ines prospect is mostly convered by a thin layer of post mineralization overburden and the Exploradora East prospect is largely covered by post mineralization ignimbrites, an initial evaluation is currently being undertaken on both Properties using partial leach (MMI) soil sampling and expected follow-up ground geophysics (magnetics and IP).
About Aegean Metals Group Inc.
Aegean Metals Group Inc. (TSX VENTURE:AGN) is a Canadian junior exploration company focused on the acquisition, exploration and development of high grade gold, copper and polymetallic deposits in favourable jurisdictions that have the potential to become operating mines with strong cash flows. The Company currently holds two projects in Turkey: the 100% owned Hot Maden gold and base metal prospect in northeast Turkey (LOI signed & subject to a 2% NSR to Teck Resources Limited) and the Ergama high sulfidation epithermal gold prospect in western Turkey, where Aegean will ultimately retain a 49% interest upon completion of Teck Resources' back-in expenditure commitments. In northern Chile, the Company also recently staked two new exploration prospects and an LOI has been signed for the Vicuna-Llareta property. For more details on the Company, please visit www.aegeanmetalsgroup.com.
This news release includes certain "forward-looking information" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company contain forward-looking information that involves various degrees of risk. Forward-looking information reflects management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking information are reasonable, such information and statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking information. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking information: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied to develop this forward-looking information as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/NorthernChile_map.pdf.