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.
Figure 1. View to the southwest along the Iron Butte mineralized
system, showing
the series of intersecting large quartz veins and alteration
zones.
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.
Figure 2. Map of Iron Butte drill plan relative to historic
drilling, historic grade shells and newly interpreted intersections
of gold-mineralized veins.
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 investors@angoldresources.com 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.
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SOURCE Angold Resources Ltd.