VANCOUVER, BC, March 2, 2021 /CNW/ - Angold Resources Ltd. (TSXV: AAU) (FRA: 13L1) ("Angold" or the "Company") is pleased to announce that it has begun permitting for drilling a total of 10,000 metres at its Iron Butte project in the Battle Mountain Trend of Nevada, USA. The first phase of drilling will be 2,850 m.
Angold's CEO, Mr. Adrian Rothwell, stated: "A new structural interpretation of the Iron Butte deposit has identified previously untested intersection zones that have formed the main conduits of fluid flow at Iron Butte. Put simply, we believe much historic drilling has missed the core of this deposit, despite demonstrating mineralized structures up to ~30 m thick. Iron Butte exhibits evidence of a large system with excellent potential to increase the size of the deposit."
Please refer to the Company's news release dated January 27, 2021 for more information on new drill targets at Iron Butte and highlighted historic results.
DRILL PROGRAM
The proposed drill plan consists of a total of 42 holes from 33 drill pads to depths of 150-300 m in three phases, with an average depth of ~250 m per hole. All drilling will consist of core and will test the principal structures on the project that have been mapped during fieldwork undertaken by the Company from October 2020 to present. The core of this work calculated the trend and plunge of the intersection lines formed by the main gold-bearing silicified ribs.
In addition to validating historic drill data, the primary objectives of the proposed program are to:
- Expand the resource by stepping out along strike and at depth.
- Test structural intersections identified by the Company.
- Gather data for an enhanced geologic, geochemical, and alteration model for the deposit.
Qualified Person
David Smith, CPG, the VP Global Exploration for Angold and a Qualified Person in accordance with National Instrument 43-101, is responsible for supervising the exploration programs at Angold's projects and has reviewed and approved the technical information contained in this news release.
About Angold
Angold is an exploration and development company targeting large-scale mineral systems in the proven districts of the Maricunga, Nevada and Ontario. Angold owns a 100% interest in the Dorado, Cordillera and South Bay-Uchi projects, and certain claims that append the optioned Iron Butte project.
ON BEHALF OF THE BOARD OF ANGOLD RESOURCES LTD.
"Adrian Rothwell"
Chief Executive Officer
Further information on Angold can be found on the Company's website at www.angoldresources.com and at www.sedar.com, or by contacting the Company by email at [email protected] or by telephone at (866) 852 8719.
Neither the 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.
Forward Looking Statements: This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and includes expectations of the resumption of trading of the Company's common shares on the Exchange. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.
SOURCE Angold Resources Ltd.
Further information on Angold can be found on the Company's website at www.angoldresources.com and at www.sedar.com, or by contacting the Company by email at [email protected] or by telephone at (866) 852 8719.
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