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Algemeen advies 13/06/2022 15:14
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.

Adrian Rothwell, President & Chief Executive Officer, said, "These results are impressive, indicating the potential presence of significant mineralization in targeted geophysical and fault 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.

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.


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 National 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.

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