TORONTO, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Angus Gold Inc. (TSX-V: GUS | OTC: ANGVF) (“Angus& or the “Company&) is pleased to announce it has commenced its 2025 drilling program on its 100%-owned Golden Sky Project located in Wawa, Ontario. The 2025 drill program will continue to expand and delineate gold mineralization at the Company&s Dorset and BIF Zones. The majority of the winter drilling will be focused on the Dorset Gold Zone with infill drilling planned along the historical resource area in addition to step-out drilling planned on the eastern extension and the western extension, where Angus has successfully intersected a new zone of high-grade gold, including 7.0 g/t Au over 12.4 metres in Hole GS-24-136 (see News Release of May 7, 2024).
Highlights:
- 15,000 metres of drilling planned for the Golden Sky Project in 2025.
- Drill results from the Dorset fall program, focused on the Dorset High-Grade Gold Zone, will be released in the coming weeks.
- Fully funded 2025 exploration budget with over C$6.5 million in treasury.
Breanne Beh, Chief Executive Officer of Angus, states: “Thanks to the positive results that have come back from our 2024 exploration programs, we are excited to start our 2025 drill program with two rigs turning on the Dorset Gold Zone, an area that has quickly become a high priority exploration area for the company. In addition to Dorset, our 2025 drilling efforts will also focus on advancing our BIF and Eagle River Splay gold discoveries. Angus is well positioned, starting the year with a strong treasury that will allow us to continue to accelerate our programs and continue to assess the exploration potential of the entirety of the Golden Sky land package.&
The Golden Sky Project
The 100%-owned Golden Sky Project is located within the Mishibishu Lake Greenstone Belt of Northern Ontario, which is host to Wesdome&s high-grade Eagle River and the Mishi open-pit gold mines. The Company&s 290-square-kilometres land package is located approximately 50 kilometres west of the town of Wawa and is situated immediately between the two Wesdome mines.
The ongoing drill program on the Golden Sky Project is focused on the Dorset Gold Zone, which hosts a historic gold resource; the BIF Zone, a new gold zone discovery in a large banded iron formation; as well as the Eagle River Splay deformation zone, which shows potential for another extensive gold system. Angus& drill programs on the near-surface Dorset Gold Zone have been successful at extending the strike length of the previously modelled zone from 750 metres to 1.7 kilometres. The Dorset Gold Zone historic estimated resource (using a 0.50 g/t Au cut-off) consists 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 greater details on the Golden Sky Project, please refer to the NI 43-101 technical report for the Golden Sky Project entitled, “NI 43-101 Technical Report Wawa Property Ontario, Canada& dated February 18, 2020, and available on the Company&s SEDAR profile.
Qualified Person
The scientific and technical content of this press release has been reviewed and approved by Breanne Beh, P.Geo, who is a “Qualified Person& as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101&) and President and CEO of the Company.
Quality Control
During the last drilling program, assay samples were taken from the NQ core by sawing the drill core in half, with one-half sent to a certified commercial laboratory and the other half retained for future reference. A strict QA/QC program was applied to all samples; which includes insertion of mineralized standards and blank samples for each batch of 20 samples. The gold analyses were completed by fire-assay with an atomic absorption finish on 50 grams of materials. Repeats were carried out by fire-assay followed by gravimetric testing on each sample containing 3.0 g/t gold or more.
About Angus Gold:
Angus Gold Inc. is a Canadian mineral exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company&s flagship project is the Golden Sky Project in Wawa, Ontario. The Project is immediately adjacent to the Eagle River Mine of Wesdome Gold Mines Ltd.
On behalf of Angus Gold Inc.,
Breanne Beh
President and Chief Executive Officer
INQUIRIES:
Lindsay Dunlop, Vice President Investor Relations
Email: info@angusgold.com
Phone: 647-259-1790
Company Website: www.angusgold.com
TSXV: GUS | USOTC: ANGVF
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Forward-Looking Statements
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company&s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes&, “anticipates&, “expects&, “estimates&, “may&, “could&, “would&, “will&, or “plan&. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management&s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company&s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the transactions contemplated by the Agreement, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company&s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
