Vancouver, British Columbia, March 16, 2021 – Angold Resources Ltd. (TSXV:AAU, FRA:13L1) (“Angold” or the “Company”) is pleased to announce that it has received further favorable assay results for holes DO-21-02 and DO-21-03 from drilling on the Lajitas historic resource, at the Company’s Dorado project located in the Maricunga belt of Chile.
The most favorable intercepts in this second batch of assay results were 110 m at 0.75 g/t Au in DO-21-02 and 140 m at 0.82 g/t Au in DO-21-03, thus demonstrating excellent continuity of mineralization at Lajitas. Assayed grades of up to 4.06 g/t Au (over 2 m) also confirm the high grade potential of this target.
First assay results, including the intercept of 302 m at 0.71 g/t Au from surface in DO-21-01 are outlined in the Company’s news release dated February 16, 2021.
Angold’s CEO, Mr. Adrian Rothwell, stated: “With early results confirming higher grades than in historic drilling, long intercepts, and identifying continuous mineralization in new zones, we are confident in the expansion potential of the Lajitas historic resource.”
Assays from the second and third drill holes have identified new areas of mineralization:
In DO-21-02 east of the East Zone, intersecting mineralization in an area not previously drilled; and
In DO-21-03, extending mineralization approximately 50 m to the north of holes DO-21-01 and DO-21-02.
Together, these drill holes demonstrate depth and strike continuity of the East Zone of mineralization, which was intersected from surface in hole DO-21-01. They also suggest that the mineralization in the East Zone strikes north-northeast and dips steeply to the east. Additional holes are planned to test extensions of this mineralization at depth and to the northeast and southwest (Figures 1 and 2).
Mineralization observed in drill core continues to be typical of Maricunga-style gold porphyry deposits, consisting dominantly of banded quartz-magnetite veins (Figure 3), with apparent overprinting of a telescoped epithermal system.
Assay results from the remainders of holes DO-21-02 and DO-21-03 are in progress (Table 1). The Company has planned a total program of approximately 5,000 m over 10 holes.
Angold’s second drill hole DO-21-02 has intersected a new zone of mineralization in an area not previously drilled. Although lower grade, the intercept of 16 m at 0.35 g/t Au from 58 m downhole demonstrates expansion potential for the deposit.
Drill hole DO-21-02 assayed 110 m grading 0.75 g/t Au, including two separate higher-grade intervals of 30 m @ 1.04 g/t Au and 32 m of 1.11 g/t Au. Hole DO-21-02 also intersected a second new zone of mineralization to the east of the East Zone, grading 0.38 g/t Au over 16 m, from 116 m downhole. The last assays received for hole DO-21-02 averaged 0.51 g/t Au over 6 m, with assays pending below the final assay of 1.03 g/t Au at 412-414 m downhole. This may be a deeper portion of the West Zone of mineralization (Figure 2). Drill hole DO-21-02 was drilled from east to west to test the NNE structural corridor controlling the mineralization. and has added additional mineralization to the east of intercepts in DO-21-01 and other historical drilling in the area (Figures 1 and 2).
Drill hole DO-21-03 assayed 140 m grading 0.82 g/t Au, including 74 m @ 1.25 g/t Au (Figures 1 and 2). This hole was drilled from northwest to southeast and extends mineralization approximately 50 m to the north of holes DO-21-01 and 02. The 140-m interval in DO-21-03 ended in mineralization, with mineralization observed in drill core below 308 m downhole and assays pending.
Table 1 - Assay Results
Table 2 - Dorado drill-hole collar table
Figure 1 - Map of Angold's Dorado drill results and historic drilling
Figure 2. Cross section looking north at Angold Dorado drill results and historical drilling.
Figure 3. Black banded quartz-magnetite vein at a depth of 252.7 m in drill hole DO-21-03. This vein is within a 2-m interval (252-254 m) grading 4.06 g/t Au, a relatively high-grade assay for Maricunga mineralization.
More news on the Company’s planned drill program may be obtained in the news release on January 12, 2021: https://www.angoldresources.com/post/angold-resources-begins-drilling-at-dorado.
All of Angold Resources’ drill sample assay results have been independently monitored through a quality assurance/quality control (“QA/QC”) protocol which includes the insertion of blind standard reference materials, blanks, and duplicates at regular intervals. Logging and sampling of the Dorado drill samples were completed at Angold’s core handling facilities located in Copiapo, Chile. Drill core was diamond sawn on site and half drill-core samples were securely transported to ALS Laboratories’ (“ALS”) sample preparation facility in Copiapo.
Gold content was determined by fire assay of a 50-gram charge with atomic absorption finish (ALS method Au-AA24). Thirty-three other elements were analyzed by ICP methods with four-acid digestion (ALS method ME-ICP61m). ALS Laboratories is independent of Angold Resources and its facilities are ISO 17025 accredited. ALS also performed its own internal QA/QC procedures to assure the accuracy and integrity of results. Parameters for ALS’ internal and Angold’s external blind quality control samples were acceptable for the samples analyzed. Angold is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of its drill results data.
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.
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.
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@example.com 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.