Angold Provides Update of Field Work, Discovers New Zones at Cordillera, Chile
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January 26, 2022
ANGOLD PROVIDES UPDATE OF FIELD WORK, DISCOVERS NEW
ZONES AT CORDILLERA, CHILE
Vancouver, British Columbia, January 26 , 2022 – Angold Resources Ltd. (TSXV: AAU ,
FRA:13L1, OTCQB: AAUGF) ("Angold" or the "Company") is pleased to announce that it has
commenced the second field work season on its Cordillera project in the Maricunga Gold Belt of
northern Chile. The program includes soil sampling, geophysics, prospecting, and detail mapping
on areas surrounding the main target where the Company received assays of ore -grade gold
samples up to 11.95 g/t gold (Au) from surface samples (Figures 1 and 2).
Angold's CEO, Mr. Adrian Rothwell, stated: "While we look forward to commencing drilling on the
Iron Butte project in Nevada, this work is critical to identifying compelling drill targets and the size
potential of Cordillera. The project has been largely unexplored and has great potential for
unexpected wins."
Key Highlights
Permitting: The Company has obtained a favorable RCA (Resolucion Calificacion Ambiental, in
Spanish) from the SEA (Servicio de Evaluacion Ambiental, Chile) that allows the Company to
start its exploration campaigns.
High Grade: Surface gold mineralization at Cordillera has been confirmed with grades of 11.95
g/t Au, 7.6 g/t Au, 5.0 g/t Au, 3.7 g/t Au, and others, distributed on at least fi ve gold-anomalous
zones.
New Zones at Surface: In October 2021, Angold's team found a previously unrecognized zone
(North-East Zone) with quartz banding porphyry-style veins. This zone is located approximately
1km north-east from the primary target with high-grade values of gold.
Other Highlights: The Cordillera project shares features with Caspiche deposit. The alteration
footprint size of similar (slightly smaller) size to that observed in Caspiche and displays a
comparable alteration signature.
Prospecting and soil sampling mainly targets the location of gold -bearing structures and
complement previous work completed by the Company in early 2021, including a newly
discovered zone with quartz banding veins porphyry-type (Photos 1-2, Figure 2). The Company’s
news release on September 8, 2021 outlines the results of this initial phase of testing.
The Cordillera project is strategically located three kilometres north of the Caspiche gold -rich
porphyry copper deposit and eight kilometres south of the Maricunga porphyry gold deposit
(Figure 1). Historic drilling and small-scale mine workings attest to high-grade gold.
The geology identified and mapped at Cordillera shows similar mineralization, alteration, lithology,
and ages with Caspiche gold-copper porphyry deposit under the Newmont-Barrick Joint Venture,
located 3 km south Cordillera (Figure 5), as well as the Miocene intrusives identified in the
Maricunga mine displays similar characteristics with the intrusive units mapped in Cordillera.
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ASTER processing recognized an alteration footprint over 2.4 km 2 at Cordillera (Figure 4). It is
slightly smaller in size in comparison with Caspiche footprint (2.5 km 2). This does not consider,
however, that Cordillera has thin post-mineral andesitic flows covering at least 40% of the mapped
area. Small erosional windows allow us to detect altered and mineralized hydrothermal breccias
under the cover.
Sampling in 2022 includes detailed mapping at 1/200 to 1/ 500 scale (Figure 3), soil sampling,
rock chip, and other complementary samples for spectrometry; pH detection and petrography.
The objective of this program is to look for extensions of known mineralized zones (A, B, C in
Figure 3A), particularly under cover along their strike.
In 2021, Angold Resources completed a successful exploration program (Phase I) consisting of
geologic/alteration maps (>26 km 2), rock sampling, systematic soils samples , pH/inverse-
differential hydrogen (IDH) sampling over post -mineral cover, Hyperspectral analyses on rocks
and soils , a limited ground magnetic and 3D -IP survey , and A STER interpretation on the
Company’s concessions (Figure 3 and 4). These works have identified five promising gold
mineralized zones with epithermal quartz vein structures, porphyry, and hydrothermal breccias
targets. Results are highlighted in Figure 2. Details of historic drilling can be obtained from the
Company’s website at www.angoldresources.com.
Phase I: Systematic surface sampling:
• 248 rock samples and more than 250 meters of trenching/samples.
• 425 soil samples in a regular and systematic grid over a 5 km x 4 km.
• All samples were tested with TerraSpec Halo for spectral analysis and interpretation.
• Systematic samples were selected for pH/IDH over post -mineral cover and mineralized
zones.
Option Grant
The Company also announces that the Board of Directors has approved the grant of stock options
to directors, officers, employees and consultants of the Company for the purchase of up to
2,525,000 shares in the Company exercisable at a price of $0.165 for a period of five years from
the date of grant. The grant is pursuant and subject to the terms and conditions of the Company’s
existing stock option plan and is subject to the approval of the TSX Venture Exchange and all
regulatory requirements.
Figure 1: Location of the property – Cordillera Project in the world -class Maricunga bett, near the multi -millon ounce
deposits such as Maricunga, Caspiche and Cerro Casale.
Figure 2: Gold anomalies from soils (background) and rock chip samples. In the extreme north of target 5, is located
the new quartz banding vein zone recently identified.
Figure 3: Cordillera Project. This figure illustrates the sample's location (rock chip, ph/Spectrometry, and soils), carried
out early -2021.
Figure 3A: Cordillera Project. Field work program. Location of the zones to be explored and mapped in detail.
Figure 4: Hydrothermal alteration footprint – Cordillera project and its location relative to the Caspiche and Cerro Casale
gold – copper porphyry deposits, and with the multi-millon ounce mine Maricunga
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Figure 5: The lithological units present at Cordillera are considered as an extension north of the Caspiche deposit.
QAQC Statement
All of Angold Resources ' surface sample assay results have been independently monitored
through a quality assurance/quality control ( "QA/QC") protocol , which includes inserting blind
standard reference materials, blanks, and duplicates at regular intervals. Rocks and talus fines
samples were securely transported to ALS Laboratories ' ("ALS") sample preparation facility in
Copiapó, Chile.
Talus fines samples were prepared using ALS ' PREP-41 method and analyzed for 53 elements ,
including gold, by ALS ' method AuME-ST43, which uses aqua regia digestion and super-trace-
level detection limits. For rock chips, the preparation method was PREP -31; analytical methods
were Au-AA24 for gold and ME- MS61m for 49 elements with four-acid digestion.
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 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
[email protected] or by telephone at (855) 917 4091.
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 invo lve 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 o n the
forward-looking statements, timelines and information contained in this news release.