Angus Gold Inc. (TSX-V: GUS |
OTC: ANGVF)
(“
Angus” or the “
Company”) is
pleased to announce assay results from the final (15) fifteen holes
of its winter 2023 drill program at the Golden Sky Project in Wawa,
Ontario. Nine of the fifteen holes were drilled as infill holes at
25-metre spacing within the historic resource area and were planned
to test for the potential of high-grade ore shoots within the
Dorset Gold Zone based on a newly interpreted geologic model.
Results from all nine (9) holes were successful at intersecting
Dorset style Au mineralization within the Dorset Zone resource area
and in some areas has significantly improved upon the historic
drilling results, including GS-23-73, which intersected 2.8 g/t Au
over 16.0 metres, including 5.1 g/t Au over 8.0 metres, and
GS-23-72, which returned an interval of 2.2 g/t Au over
16.0 metres including 3.4 g/t Au over 6.0 metres and 5.6 g/t
Au over 1.0 metre. Additionally, three (3) holes and one (1)
drillhole extension were completed on the Dorset East strike
extension area with hole GS-23-77 intersecting 1.0g/t Au over 10.0
meters. Results from the winter drilling continue to help delineate
new areas of Dorset-style mineralization.
Steve Burleton, Chief Executive Officer of
Angus, states: “We are extremely pleased with the results from the
winter 2023 drilling program. Our key objectives at the Dorset Zone
continue to be strike extension and discovery of higher-grade zones
within Dorset, and this program was successful on both counts.
These results also demonstrate that we can improve upon the
historic results from Dorset, which bodes well for future resource
estimates. We are excited to begin our summer 2023 drilling program
this week, which will see two drills focused on the BIF Gold Zone
and some new regional exploration targets including the Splay Zone
target to the south of the BIF. Our winter geophysical program was
a tremendous success, generating numerous new targets in both the
BIF and the Splay Zone. We now have almost full geophysical
coverage across these areas and will begin the exciting task of
making more gold discoveries. We look forward to the months ahead
and will keep investors informed as results come in.”
The ongoing drill program at Golden Sky focuses
on two target areas within the property: the Dorset Gold Zone which
hosts a gold resource; and the BIF Zone a new gold zone discovery
in a large banded iron formation. The summer 2023 drilling program
is scheduled to begin early June and will focus on the newly
discovered BIF Zone while also testing parallel trends on the
6 kilometres of strike length of banded iron formation present
at the Golden Sky property. In addition, Angus will be drilling new
exploration targets that have been generated outside of the Dorset
and BIF Zones courtesy of the extensive ground geophysics program
that was completed earlier this year.
Selected drill results from the 15 holes at the
Golden Sky drilling program are, as follows:
Hole Number |
From (m) |
To (m) |
Length (m) |
Au g/t |
Area |
GS-23-065 |
53.0 |
57.9 |
4.9 |
1.1 |
Dorset |
GS-23-066 |
63.0 |
70.0 |
7.0 |
1.4 |
Dorset |
including |
64.0 |
67.0 |
3.0 |
2.4 |
GS-23-067 |
67.0 |
76.0 |
9.0 |
1.5 |
Dorset |
including |
68.0 |
73.0 |
5.0 |
2.0 |
including |
68.0 |
71.0 |
3.0 |
2.5 |
GS-23-070 |
98.0 |
105.0 |
7.0 |
1.5 |
Dorset |
including |
99.0 |
100.0 |
1.0 |
2.4 |
including |
102.0 |
103.0 |
1.0 |
2.4 |
GS-23-071 |
177.0 |
186.0 |
9.0 |
0.9 |
Dorset |
including |
178.0 |
184.0 |
6.0 |
1.2 |
GS-23-071 |
189.0 |
195.0 |
6.0 |
0.9 |
including |
191.0 |
194.0 |
3.0 |
1.6 |
including |
192.2 |
193.1 |
0.9 |
3.3 |
GS-23-072 |
171.0 |
187.0 |
16.0 |
2.2 |
Dorset |
including |
173.0 |
179.0 |
6.0 |
3.4 |
including |
173.0 |
174.0 |
1.0 |
5.6 |
GS-23-073 |
181.0 |
197.0 |
16.0 |
2.8 |
Dorset |
including |
184.0 |
192.0 |
8.0 |
5.1 |
GS-23-077 |
83.0 |
93.0 |
10.0 |
1.0 |
Dorset East |
(1) Assay results presented over core length.
Additional drilling will be necessary to constrain the true width
of the mineralized envelope of the gold system.
Figure 1: Surface Map – Dorset Gold Trend new
drilling, Golden Sky Project Location Map
The Dorset Gold Zone
contains a historic estimated indicated resource (using a 0.50 g/t
Au cut-off) of 40,000 ounces grading 1.4 g/t Au, and an inferred
resource of 180,000 ounces grading 1.2 g/t Au. Angus’ 2023
winter drilling program was focused on testing strike length
extension of the Dorset Zone while also targeting high-grade
material within the historic resource area for a future resource
update. The Dorset Zone lies within the Mishi Creek Deformation
Zone (“MCDZ”). The MCDZ can be traced for at least 7 kilometres
within the Golden Sky project and is extremely under explored.
The Golden Sky Project The
100%-owned Golden Sky Project is located within the Mishibishu Lake
Greenstone Belt of Northern Ontario, which is host to the
high-grade Eagle River and the Mishi open-pit gold mines of Wesdome
Gold Mines Ltd. (“Wesdome”). The Company’s
234-square-kilometres land package is located approximately
50 kilometres west of the town of Wawa and is situated
immediately between the two Wesdome mines. The project is host to
the near-surface Dorset Gold Zone, which contains a historic
estimated resource (using a 0.50 g/t Au cut-off) consisting of an
indicated resource of 40,000 ounces of gold (780,000 tonnes grading
1.4 g/t Au), and an inferred resource of 180,000 ounces of gold
(4,760,000 tonnes grading 1.2 g/t Au). For greater details on
the Golden Sky Project, please refer to the NI 43-101 technical
report for the Golden Sky Project entitled, “NI 43-101 Technical
Report Wawa Property Ontario, Canada” dated February 18, 2020, and
available on the Company’s SEDAR profile.
Qualified PersonThe scientific
and technical content of this press release has been reviewed and
approved by Breanne Beh, P.Geo, who is a “Qualified Person” as
defined by National Instrument 43-101 - Standards of Disclosure for
Mineral Projects (“NI 43-101”) and Chief Geologist for the
Company.
About Angus Gold:Angus Gold
Inc. is a Canadian mineral exploration company focused on the
acquisition, exploration, and development of highly prospective
gold properties. The Company’s flagship project is the Golden Sky
Project in Wawa, Ontario. The Project is immediately adjacent to
the Eagle River Mine of Wesdome Gold Mines Ltd.
Directors and insiders currently approximately
own 36.8%, Delbrook Capital Advisors Inc. 16.4% and New Gold Inc.
9.9%, each based on the current issued and outstanding common
shares of the Company on a non-diluted basis.
On behalf of Angus Gold Inc.,
Steve BurletonChief Executive Officer and
Director
INQUIRIES:Email: info@angusgold.comPhone:
647-259-1790Company Website: www.angusgold.com
TSXV: GUS | USOTC: ANGVF
Forward-Looking Statements
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. This News Release includes certain
"forward-looking statements" which are not comprised of historical
facts. Forward-looking statements include estimates and statements
that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management
expects a stated condition or result to occur. Forward-looking
statements may be identified by such terms as “believes”,
“anticipates”, “expects”, “estimates”, “may”, “could”, “would”,
“will”, or “plan”. Since forward-looking statements are based on
assumptions and address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Although
these statements are based on information currently available to
the Company, the Company provides no assurance that actual results
will meet management’s expectations. Risks, uncertainties and other
factors involved with forward-looking information could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Forward looking information in this
news release includes, but is not limited to, the Company’s
objectives, goals or future plans, statements, exploration results,
potential mineralization, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement
of operations and estimates of market conditions. Factors that
could cause actual results to differ materially from such
forward-looking information include, but are not limited to: the
ability to anticipate and counteract the effects of COVID-19
pandemic on the business of the Company, including without
limitation the effects of COVID-19 on the capital markets,
commodity prices supply chain disruptions, restrictions on labour
and workplace attendance and local and international travel,
failure to receive requisite approvals in respect of the
transactions contemplated by the Agreement, failure to identify
mineral resources, failure to convert estimated mineral resources
to reserves, the inability to complete a feasibility study which
recommends a production decision, the preliminary nature of
metallurgical test results, delays in obtaining or failures to
obtain required governmental, environmental or other project
approvals, political risks, inability to fulfill the duty to
accommodate First Nations and other indigenous peoples,
uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, inflation, changes
in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the
mineral exploration and development industry, and those risks set
out in the Company’s public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in preparing
the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a701bc5f-da99-4d1e-9030-d962a331f434
Angus Gold (TSXV:GUS)
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から 5 2023 まで 5 2024