Angold Completes Drill Program at Iron Butte, Nevada
Page 1 of 2
October 12, 2022
ANGOLD COMPLETES DRILL PROGRAM AT IRON BUTTE, NEVADA
Vancouver, British Columbia, October 12, 2022 – Angold Resources Ltd.
(TSXV:AAU, FRA:13L, OTCQB:AAUGF) (“Angold” or the “ Company”) is pleased to
announce the completion of the drilling program at its Iron Butte Project, located
approximately 60 kilometres ("km") south of Battle Mountain, Nevada.
A total of 5 holes were completed for a total of 2,152 metres. Drilling was distributed
across the project area, with three holes into the Red Ridge Zone, one at the North Zone,
and the remaining hole drilled into the newly identified Northern Extension Zone. The drill
program was designed to test targets identified through geophysics and geochemical
activities outlined in the Company’s news release on April 19, 2022 and to define the
strike extensions of the mineralized veins within the historic resource areas.
Figure 1. Iron Butte 2022 drillhole collar locations. Holes 01/01A and 04 were drilled in
Red Ridge, 02 in North Zone and 03 in Northern Extension.
Page 2 of 2
A total of 1,501 core samples and reverse circulation pulps have been sent to Paragon
Geochemical Laboratories in Sparks, Nevada for analysis. All samples have been
delivered and are currently being processed, with the first results expected in late October
or early November.
Angold’s CEO, Mr. Adrian Rothwell, stated: “Angold was able to test all of our intended
targets in this maiden drill program. Though drilling encountered logistical issues that
resulted in unexpected delays, we are excited for results in the coming weeks.”
The Iron Butte Project is comprised of 267 unpatented Bureau of Land Management
mineral claims, covering approximately 2,210 hectares on the southwest edge of the
Caetano Caldera west of the Cortez Hills mine in the Shoshone Range. Iron Butte is a
low sulfidation epithermal system with a historic (non-compliant) resource, mineralization
from surface over a ~2 km strike length, shallow historic drilling and gold grades of up to
7.74 g/t.
About Angold
Angold is an exploration and development company targeting large- scale mineral
systems in the proven districts of the Maricunga Gold Belt in Chile, 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.
This news release shall not constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of these securities in any jurisdiction in which an offer,
solicitation or sale would be unlawful prior to re gistration or qualifications under the
securities laws of any such jurisdiction.
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. Forwar d-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.