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Angel Bioventures Inc.
Summary
| Project: | Diablillos | |
|---|---|---|
| Deposit: | Diablillos | |
| Location: | Argentina | |
| Commodities: | Gold-Silver | |
| Date: | 3/1/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 1-3-2017: Angel Bioventures Inc. announces a Supporting Acquisition report for its Diablillos deposit at the Diablillos project. Summary of property in support of merger and public listing of company. Roscoe Postle Associates Inc. (RPA) was retained by An | |
| Resources: | (Resource): 27.7Mt @ 91.2g/t Ag, 0.85g/t Au (Ind.) and 1.09Mt @ 43.9g/t Ag, 0.87g/t Au (Inf.) | |
| CP/QP: | [Overall Report]: David W. Rennie (Roscoe Postle Associates Inc.) | |
| ABSTRACT: | Roscoe Postle Associates Inc. (RPA) was retained by Angel Bioventures Inc. (Angel) to prepare an independent Technical Report on the Diablillos Gold-Silver Project (the Project), located in Salta, Argentina. RPA has audited the Mineral Resource estimate for the Project and has made recommendations for further work. The purpose of this report is to support a merger and public listing of Angel on the TSX Venture Exchange (TSX-V). RPA visited the property on August 22, 2016. Angel has entered into a binding Letter of Agreement, dated September 16, 2016, to acquire the outstanding shares of Huayra Minerals Corporation (Huayra). Under the terms of this agreement, Huayra will merge with a newly incorporated wholly-owned subsidiary of Angel, and this amalgamated entity will then also become a wholly-owned subsidiary of Angel. There are several known mineralized zones on the Diablillos property, with the Oculto zone being the most important and best explored. Principal mineralized zones outside of Oculto that have been the most recent targets of exploration work. In RPA’s opinion, further exploration and development work is warranted on Oculto, Fantasma, Cerro Viejo, Laderas, and Pedernales. Angel geologists consider Fantasma to be the highest priority target area because it is closest to Oculto and has good potential for near-surface mineralization of a high-silver style most similar to that of Oculto. A Phase I program of 1,500 m of RC drilling in 20 holes at Fantasma is recommended to confirm the present geological interpretation and expand the known limits of the mineralization. | |
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