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TORONTO, Jan. 09, 2024 (GLOBE NEWSWIRE) — Angus Gold Inc. (TSX-V: GUS | OTC: ANGVF ) (“ Angus ” or the“ Company ”) is pleased to announce assay results from five (5) drill holes, totaling 1,272 metres, completed during the fall 2023 drilling program on the Eagle River Splay Area on its 100%-owned Golden Sky Project in Wawa, Ontario. The Eagle River Splay Area is located between Angus’ newly discovered Banded Iron Formation (“BIF”) Gold Zone and the high-grade Eagle River gold mine of Wesdome Gold Mines Ltd. (“ Wesdome ”) to the south. This new exploration area covers an offshoot, or splay, of the Eagle River Deformation Zone which is host to Wesdome’s mine.
The first phase of the Eagle River Splay drilling program was designed to verify geophysical anomalies spatially related to anomalous grip patterns at the surface. Drill hole GS-23-100 confirmed a moderately responsible IP anomaly related to a highly resistive zone. Angus crossed 48. 7 g/t Au over 1. 5 metres, improving on a previous surface hold pattern containing 5. 35 g/t Au, suggesting the possibility of vertical continuity in the gold zone. The 48. 7 g/t Au pattern was hosted in a broader 5. 50 meter alteration zone. with gold anomalies, carbonate alteration, repetitive quartz veins 0. 5 to 3. 0 centimeters thick, and pyrite and pyrrhotite mineralization. Additionally, the anomalous gold periods observed in drill holes GS-23-101 and GS-23-102 imply the possibility of widespread gold mineralization in the Eagle River Splay System.
Breanne Beh, Chief Executive Officer of Angus, states:“We are extremely happy with these results from the fall 2023 drilling program on the Eagle River Splay Exploration Area. This is the first drill program on a new exploration target outside of our Dorset and BIF Gold Zones and to intersect a high-grade gold result on our first try is incredibly encouraging. Our winter 2024 drilling program is scheduled to begin next week with the drill returning to the Eagle River Splay area to continue to test new gold exploration targets in this underexplored section of the land package adjacent to Wesdome’s Eagle River Gold Mine. We will also be drilling at the Dorset Gold Zone where we are continuing to see success in both expanding the resource area and delineating numerous high-grade gold zones within and along strike of the historical resource.”
Selected drill results from the 5 holes at the Golden Sky drilling program are, as follows:
The winter drill program is designed to verify some very interesting targets in the Eagle River extension zone that were not available in the smaller fall program. These targets are represented through strong surface geophysical and geochemical anomalies hosted through volcanic rocks and sets of diorites entrained in shear flares. similar to the geological parameters observed at the Eagle River Mine. In addition, the deformed and interbedded mafic and felsic volcanic rock assemblages in the Eagle River Splay domain largely mimic the geologic environment of the Wesdome Falcon Zone. Historical rock samples collected at the surface in this exploration The domain yielded assay effects of 12. 34 g/t Au, 5. 86 g/t Au, 5. 35 g/t Au, and 5. 13 g/t Au. No old drilling has been completed in the Angus portion of the Eagle River Splay.
To date, drill systems at the Golden Sky assignment have focused on the Dorset Gold Zone, which hosts an NI 43-101 compliant gold resource, and the BIF Gold Zone, a new discovery made through Angus in a banded iron formation. The Splay exploratory drilling program is the first time the Company has tested new regional exploration targets at Golden Sky’s assets since its initial drilling program in the BIF gold zone in 2021.
Figure 1: Surface Map: Angus Gold’s Eagle River Extension Exploration Area, Golden Sky Project
The wholly-owned Golden Sky project is located in the greenstone belt of Lake Mishibishu in northern Ontario, which is home to the high-quality Wesdome Eagle River and the Misi open-pit gold mines. The company’s 280-square-kilometer site is located approximately 50 kilometers west of the city of Wawa and is situated directly between the two Wesdome mines. The assignment hosts the near-surface Dorset gold zone, comprising an estimated ancient resource (using a 0. 50 g/t Au cut-off). off) consisting of an indicated resource of 40,000 ounces of gold (780,000 tonnes grading 1. 4 g/t Au) and an inferred resource of 180,000 ounces of gold (4,760,000 tonnes grading 1. 2 g/t Au). For further main points on Sky’s Golden Allocation, please refer to the NI 43-101 Technical Report for Golden Sky’s Assignment entitled “NI 43-101 Wawa Property Ontario, Canada Technical Report” dated February 18, 2020 and found on the Company’s website. SEDAR profile.
The clinical and technical content of this press has been reviewed and approved through Breanne Beh, P. Geo, who is a “Qualified Person” as explained in National Instrument 43-101 Disclosure Standards for Mineral Projects (“NI 43-101”) and the Company’s Chief Geologist.
About Angus Gold: Angus Gold Inc. es a Canadian mineral exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The company’s primary assignment is the Golden Sky assignment in Wawa, Ontario. The assignment is located next to Wesdome Gold Mines. Eagle River Mine of Ltd.
Currently, directors and insiders own approximately 36. 8% of Delbrook Capital Advisors Inc. , 16. 4%, and New Gold Inc. , 9. 9%, based on the Company’s prominent and recently issued common stock on a non-diluted basis.
On behalf of Angus Gold Inc. ,
Breanne BehPresident & CEO
INQUIRIES:Email: … Phone: 647-259-1790Company Website:
TSX Risk Exchange: GUS | USOTC: ANGVF
Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is explained in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain “forward-looking statements” that are not past facts. Forward-looking statements come with estimates and statements that describe the Company’s long-term plans, objectives or goals, adding words that indicate that the Company or the control expects a stated condition or result to occur. Forward-looking statements may be referred to by words such as “believes,” “anticipates,” “expects,” “estimates,” “may,” “could,” “would,” “will” or “plans. ” Because forward-looking statements are based on assumptions and address long-term events and conditions, by their very nature they involve inherent dangers and uncertainties. Although such statements are based on data the Company has recently received, the Company provides no assurance that actual effects will meet monitoring expectations. Hazards, uncertainties and other matters relating to forward-looking data may cause actual events, effects, performance, customers and opportunities to differ materially from those expressed or implied by such forward-looking data. Forward-looking data contained in this press release includes, but is not limited to, the Company’s long-term objectives, goals or plans, statements, exploration effects, prospective mineralization, mineral resource estimate, exploration and mining progression plans, graduation of operations and estimates. of market conditions. Factors that could cause actual effects to differ materially from such forward-looking data include, but are not limited to: the ability to anticipate and offset the effects of the COVID-19 pandemic on the Company’s business, including without limitation, the effects of COVID -19. -19 in capital markets, disruptions in the chain of origin of commodity prices, restrictions on paintings and office presence and on local and foreign travel, failure to download required approvals for transactions considered a through the agreement, failure to identify mineral resources, failure to convert estimated mineral resources into reserves, failure to complete a feasibility study that recommends a production decision, initial nature of the effects of metallurgical testing, delays in unloading or failure to discharge governmental, environmental or other approvals required for allocation, political hazards, inability to meet the duty to accommodate First Nations and other indigenous peoples, uncertainties about the availability and costs of financing needed in the long term, adjustments in markets of securities, inflation, adjustments in exchange rates, fluctuations in commodity prices, delays in the progress of allocations, investments and operations. Prices vary particularly from estimates and other hazards related to the mineral exploration and progression industry, as well as hazards described in the Company’s public filings on SEDAR. Although the Company believes that the assumptions and assumptions used to prepare the forward-looking data contained in this press release are reasonable, undue reliance should not be placed on such data, which speaks only as of the date of this press release. press release, and there can be no assurance that such events will occur within the disclosed time frames or at all. The Company disclaims any objective or legal duty to update or revise any forward-looking data, whether as a result of new data, long-term occasions or otherwise, except as required by law.
The photograph accompanying this ad is available at
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