Angold Commences Field Work at Iron Butte, Nevada
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October 6, 2021
ANGOLD COMMENCES FIELD WORK AT IRON BUTTE, NEVADA
Vancouver, British Columbia, October 6, 2021 – Angold Resources Ltd.
(TSXV:AAU, FRA:13L, OTCQB:AAUGF) (“Angold” or the “ Company”) is pleased to
announce that it has commenced a program of geophysics, soil sampling, prospecting
and mapping on areas surrounding the heavily oxidised historic gold resource of 606,186
ounces at 0.62 g/t. Prospecting and soil sampling is primarily targeting the location of gold
bearing structures and supplements previous work completed by the Company, including
the identification of structural intersection zones , to be tested by core drilling . This
augments targets identified at depth and along strike where the historic resource remains
open.
Key Highlights
Historic Resource: Iron Butte boasts an historic resource of 606,186 oz Au at 0.62 g/t
(not 43-101 compliant) with multiple opportunities for expansion.
Multiple Targets: have been identified and mapped. This first phase of testing includes
field work, surface sampling and geophysics.
A structured exploration program has commenced, with completion of an MT survey,
and commencement of IP and soil sampling prior to drilling.
Permitted: for up to 10,000 metres of drilling.
Size: Iron Butte claims total a large 1,540 ha (3,805 ac.) in size over 190 unpatented BLM
claims, giving Angold ample room to grow.
Focused Team : Angold welcomes Ken Coleman as full-time Exploration Manager –
North America to expedite the program on Iron Butte.
Adrian Rothwell, President & Chief Executive Officer, said, "Ken has been consulting
behind the scenes on the Iron Butte project since the company had acquired it in early
2020. We are delighted to have an in-depth understanding of the project in-house and on
a full-time basis as we build our footprint in Nevada."
Ken Coleman is a geologist with 17 years of experience working on a variety of mineral
deposit styles, mostly in Nevada. H e h olds a BSc in Geology from the University of
Nevada-Reno. Formerly, he was a m ine geologist for Barrick Gold at Goldstrike and
South Arturo ; was c onsulting geologist for Battle Mountain Gold on the Lewis project
before being acquired by Gold Standard Ventures in 2017 ; and was a p roject and mine
geologist for Comstock Mining, Inc. on th e Lucerne mine and Dayton project. Ken was
part of the team on Victoria Gold using structural systematic techniques that made the
Helen Zone discovery at Cove -McCoy, Nevada. These techniques have been used on
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Iron Butte to develop drill targets in 2021. Mo st recently, he worked with US Gold Corp.,
where he was their Chief Geologist and was responsible for advancing their Wyoming,
Idaho and Nevada assets.
Ken Coleman, Exploration Manager-North America stated, “I am excited to have started
the fall 2021 pre -drilling exploration program at Iron Butte. Work will be focused on two
areas, with detailed geophysics around the historic resource and initial sampling and
mapping in the areas to the east, where additional large alteration zones are present that
have seen very little historical evaluation. These areas may provide additional targets for
expanding known resources, which also remain open for expansion, and where rock chip
sampling to date has provided severa l anomalous gold samples. We are ensuring we
complete as much pre-drilling work as needed before commencing drilling at Iron Butte.”
Angold has received permits to drill up to 10,000 metres. It is anticipated that current
sampling will create additional targets for this phase of drilling, which is expected to
commence in spring 2022. Historic drilling averaged less than 250 m in depth and
provides excellent expansion potential at depth and along strike between the Red Ridge
and North Zones of the historic resource. Mineralization is open to the south of the Red
Ridge Zone where there has been limited drilling.
An MT survey (Figure 3) was completed in September by Zonge Geophysical with results
and interpretation pending. The Company has also commenced an IP survey, to be
completed in October.
Soil sampling will be completed in 61 metre (200 foot) grid sample locations, while ridge-
spur soil samples will be collected on 31 metre (100 foot) spacing along proposed sample
lines. Areas to be prospected and soil sampled are detailed in Figures 1 and 2 below.
Figure 1. Ridge-spur soil sampling lines, sampling on 31 metre (100 foot) spacing.
Figure 2. Areas of grid soil sampling, 61 metre (200 foot) grid.
In addition to the prospecting and geophysical work, a pulp re -assay program of historic
RC drilling was recommended by Greg Mosher to allow utilizing historic data in a 43-101
compliant resource estimate in the future. This is being completed to substitute a QA/QC
drill program on Iron Butte in the fall of 2021, saving time and money. Angold will re-assay
about 10% of historic holes for gold and silver. The Company designed a re -assay
program that covers the entire resource area and includes mineralization of all grade
ranges. Samples have been pulled and delivered to ALS Global for assay.
Geophysics and IP Survey
Figure 3. Geophysics coverage with MT and IP survey lines
A comprehensive geophysics program is proposed mostly over the option claims and
western extension areas. Work proposed includes gravity, drone magnetics, IP-resistivity,
and MT surveys (completed).
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An MT survey cover ed the resource area, consisting of si x two (2) kilometre long lines
with 100 metre spaced stations. This will provide deep exploration in the pediment to the
west of the resource, potentially identifying alteration and sulfide zones. This method
looks deeper than CSAMT and is less expensive. Results of the MT survey will be used
to determine the need for CSAMT or more MT. Zonge Geophysical has been contracted
to complete the survey in early September 2021.
An IP (chargeability -resistivity) survey will cover the area of existing resource -drilling to
augment targeting developed from Marcus Johnston’s surface mapping completed earlier
in the year . Chargeability will help locate areas of potential sulfide concentration, while
resistivity will help define silicification zones at depth or under cover. 18 two (2) km long
lines are proposed, with a spacing of 200 m over the resource area, and 500 m to the
northeast and southwest. Rock Bottom Geophysics has been contracted to commence
the IP survey in late September 2021.
A gravity survey will consist of 721 stations spaced 150 m etres apart in a grid fashion.
Additional regional gravity stations will be acquired to put the higher density data in
context regionally. Gravity is very useful in delineating large structures or alteration zones
with differing densities from host rocks. A drone magnetics survey will be flown over the
same area, in 50 m etre line spacing perpendicular to the range front faults. Magee
Geophysical has been contracted to complete these surveys in October-November 2021.
Survey supervision and data interpretation will be completed by Thomas Weis.
Thomas Weis is a minerals exploration geophysicist with over 35 years of exploration
experience working for both major and junior mining companies worldwide. These have
included Exxon Minerals, Newmont and Normandy Poseidon. He has a broad
background in precious, base metals and industrial mineral exploration including VMS,
Porphyry Copper, Epithermal and Carlin style systems. He holds a Bachelor of Science
Degree in Geology and a Masters of Science Degree in Geophysics at Michigan
Technological University as well as advanced studies and research at the University of
Utah and University of Kansas. He is currently the President of Thomas V Weis and
Associates Inc. a geophysical contracting and consulting company.
Historic Exploration Highlights
Iron Butte has seen several fairly extensive exploration campaigns since the early 1980’s.
Surface and sub-surface exploration programs, including drilling of 31,614 metres in 211
reverse circulation (RC) holes, has been carried out by Chevron, Homestake, Horseshoe
Gold, Cyprus, Cameco, Newmont, Newcrest and Aurelio Resources.
Previous drilling has identified a historical resource estimate of 606,186 ounces of gold
at 0.62 g/t (0.018 opt), with about half of that being oxide mineralization, as disclosed in
a news release previously issued by Desert Star Resources Ltd. on March 6, 2017. This
estimate does not use the categories set out in sections 1.2 and 1.3 of the National
Instrument 43 -101 as defined by the Canadian Institute of Mining, Metallurgy and
Petroleum (CIM). The Company is treating this a historical estimate and a qualified
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person has not completed sufficient work to classify this historical estimate as a current
mineral resource. Drilling to date has not delineated the full extents of the mineralized
zones nor has it tested the potential for sediment -hosted mineralization at depth. The
surface footprint of alteration in the project area covers approximately 4km and is covered
to the west. Additional alteration of visually similar character is present on the other side
of the Shoshone Range to the east, giving the potential footprint of the system 8km in
area. Current work at Iron Butte is focused on expanding the known mi neralization and
discovering new zones, ultimately with the goal to define a multi -million-ounce gold
deposit.
Highlighted historic intercepts include:
Hole ID Length
m g/t Au From m To m
CC09-02 33.5 1.72 61.0 94.5
H31-82 97.5 0.70 0.0 97.5
including 21.3 1.54 29.0 50.3
NC52 54.9 0.97 16.8 71.6
NC56 48.8 0.83 103.6 152.4
NC22 71.6 0.68 56.4 128.0
H32-82 70.1 0.68 0.0 70.1
CC09-08 170.7 0.37 12.2 182.9
Qualified Person
Galen McNamara, P. Geo. , Director and Chairman of the Company and a Qualified
Person in accordance with National Instrument 43 -101, has reviewed and approved the
technical information contained in this news release.
About Angold
Angold is an exploration and development company ta rgeting 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 (855) 917 4091.
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term is defined in the policies of the TSX Venture Exchange) accepts
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Forward Looking Statements: This news release contains forward -looking statements and forward -looking information within the
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