Angold Reports Disseminated Silver Sulphides, Provides Drilling Update at Iron Butte, Nevada
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June 13, 2022
ANGOLD REPORTS DISSEMINATED SILVER SULPHIDES, PROVIDES
DRILLING UPDATE AT IRON BUTTE, NEVADA
Vancouver, British Columbia, June 13, 2022 – Angold Resources Ltd. (TSXV:AAU,
FRA:13L, OTCQB:AAUGF) (“Angold” or the “ Company”) is pleased to announce that it has
identified disseminated silver sulphide mineralization in the first hole of its Phase One core drilling
program at Iron Butte, Nevada. The Company is drilling hole AAU22-001 in the planned Phase
One program of up to a 2,926 meter, 5-hole program. For more information on planned drilling,
with maps, please refer to our News Release dated April 19, 2022 on the Company’s website or
SEDAR.
Figure 1: Quartz vein with fine grains of silver sulphides at 940’ (287 m).
Adrian Rothwell, President & Chief Executive Officer, said, "These results are impressive,
indicating the potential presence of significant mineralization in targeted geophysical and fault
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structures at depth, in a geological setting never before tested, and prior to hitting the projection
of surface-mineralized faults at depth. We are excited for news to come."
The frequency and width of veining has increased at depth, below the depth of historic drilling, in
Hole AAU22-001 with disseminated silver sulphides in veinlets from about 940’ (287m) from
surface. Hole AAU22-001 was designed primarily to test a strong, coincident resistivity -
chargeability high at depth, coincident with the projected triple intersection zone between several
mineralized fault zones. This hole also represents a step out of approximately 76 metres south
(at surface) of the nearest mineralized historic drillhole and has a target depth of 671 metres.
Figure 2. Map showing the locations of Phase 1 proposed drilling.
Figure 3. Cross-Sections of some selected drill holes - Phase 1 proposed drilling.
Drilling to date within and at depth below the Red Ridge zone has encountered many epithermal
quartz vein-veinlet zones displaying polyphase banding, some quartz after calcite pseudomorphs,
and in some cases, silver sulfide mineral (acanthite) grains in specific bands. These textures and
minerals together demonstrate the fertility of the system at this level and provide encouragement
for significant precious metals potential at depth, where a boiling horizon in an idealized low -
sulfidation epithermal system could occur.
Rock chip samples at surface in the Red Ridge zone, comprised of breccias and banded veinlets,
have demonstrated silver grades to 600 g/t and gold grades to 4 g/t. It is encouraging to see silver
sulfides at depth in veins within the same zone.
Table 1: Gold and silver values in selected rock chips from Red Ridge, the target area we are currently drill
testing at depth.
Sample Sample
Type
Wgt
Kg
Au_ppm Ag_ppm
20MJ-10-
14-05
Rock 0.3 4.13 608
127814 Rock 2.56 0.227 492
127810 Rock 0.98 1.74 439
127756 Rock 1.61 0.334 206
KCIB10-5-
16C
Rock 1.06 0.625 181
127716 Rock 4.26 1.23 160
127755 Rock 1.48 0.323 151
127976 Rock 2.71 1.025 128
127813 Rock 2.18 1.435 127
127717 Rock 4.11 1.75 126
127965 Rock 1.97 0.175 124
HISTORIC HIGHLIGHTED DRILL RESULTS
Gold mineralization has been encountered in drilling over an area of 1.3 x 2.9 km, and surface
mineralization and alteration indicate additional untested targets within the Company’s claims.
Highlighted Intercepts from Historic Drilling (1980 to 2009):
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Hole Interval (m) Grade (g/t Au) From (m) To (m)
H31-821 98 0.70 0 98
includes 21 1.54 29 50
H32-82 70 0.68 0 70
H35-82 29 0.82 8 37
NC22 72 0.68 56 128
NC45 72 0.49 104 175
NC521 55 1.13 17 72
NC561 72 0.41 0 72
and 49 0.83 104 152
includes 12 1.70 139 151
CC09-02 34 1.72 61 95
C3 Road cut #3 32 1.42 8 40
1. Ends in mineralization.
GEOLOGY
Gold-silver mineralization is believed to be controlled by a series of north-south, north-northeast
and east-west structures that host silicification and epithermal quartz -pyrite-gold-silver
mineralization within Pennsylvanian to Permian siltstones and argillites of the Cedars Sequence
(Havallah) and Oligocene felsic volcanic rocks. Mineralization is completely oxidized from
surface up to 175 metres depth and continues as sulphides to depths beyond 250 metres.
Mineralization is also disseminated between veins, silicified structures and brecciated zones, and
can occur as silicified breccia zones at the contact between volcanic and underlying sedimentary
rocks. Opaline silica, bladed quartz-chalcedony after calcite, polyphase banded quartz veins and
natroalunite veins are exposed at surface, supporting the deduction the epithermal system at Iron
Butte is largely intact. Surface rock chip and soil sampling assay results also support this
deduction, with highly elevated mercury, selenium and arsenic present. Quartz textures, alteration
and mineralogy described support a low-sulfidation epithermal model, which will be used to guide-
inform future exploration efforts at Iron Butte.
Qualified Person
Clyde Smith, PhD, P.Eng., a Qualified Person in accordance with Nati onal Instrument 43-101, is
responsible for supervising the exploration programs at the Company’s projects and has reviewed
and approved the technical information contained in this news release.
QAQC Statement
All Angold Resources’ soil geochemical sample assay results are monitored by our Exploration
Manager through a quality assurance/quality control (QA/QC) protocol, which includes inserting
blind certified reference materials (CRMs or Standards) and blanks at regular intervals, typically
every 80 samples. Due to their very selective nature, rock chip samples are typically submitted
alone without insertion of CRMs or blanks. Drill hole samples and pulps re-assayed have a QA/QC
protocol which includes insertion of CRMs, blanks and duplicates at regular intervals, typically
every 20 samples. When a failure of a CRM occurs the entire oven batch (84 samples), which
includes samples before and after the CRM, is reanalyzed until returned results are within
expected limits.
Drill core and/or reverse circulation (RC) chip samples are kept at the drill sites as drilling
progresses. Core and chip trays are picked up by an Angold project geologist and transported to
Elko, Nevada for logging. Sample intervals are chosen by the geologist based upon geologic
observations but are generally spaced 5 feet (1.52 meters) apart, with no sample intervals less
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than 1 foot (0.3 meters) in length. Intervals of no recovery or sample loss are not sampled across
or are excluded as much as practical. Once core is logged it is diamond sawed by an independent
contractor in a secured facility, with half of the cut core being stored in a secure location and the
other half being delivered to or picked up by either ALS Global or Paragon Geochemic al. RC
samples are split and bagged at the drill site by a driller’s helper, with the samples being stored
in bins at the drill site. Samples -bins are then delivered to or picked up by either ALS Global or
Paragon Geochemical.
Rock, pulp, core or RC sampl es picked up by or delivered to ALS Global are taken to their Elko
prep facility. Samples are prepped in Elko using the PREP-31 package. Samples are then shipped
to Sparks for gold fire assay and Vancouver, BC for multi -element analysis. Analytical methods
include gold fire assay method AuAA23 and 4-acid digestion multi -element method ME-MS61m,
for 49 elements. Pulp re-assays also utilized the AgICP41 method for silver. Drill hole, rock or soil
samples picked up by Paragon Geochemical in Elko are taken to their prep and assay facility in
Sparks, Nevada and are prepped using the PREP -PP or PKG -SOIL packages. Analytical
methods include gold fire assay method Au-AA30, which is an aqua regia digest with an AAS
scan to determine gold contents. In addition, most s amples are assayed for multi -element
geochemical data utilizing the FSAU-25 method, which is a 51-element aqua regia digest with MS
scan to determine trace element contents.
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.
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