Angold Plans Drilling at Iron Butte
Angold Plans Drilling at Iron Butte
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:
1
.
Expand the resource by stepping out along strike and at depth.
2
.
Test structural intersections identified by the Company.
3
.
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
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
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For further information:
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.
CO: Angold Resources Ltd.
CNW 09:00e 02-MAR-21