Angus Gold drilling Golden Sky project, Ontario
Angus Gold Inc. [TSXV-GUS; OTC-ANGVF] has commenced the fall drilling program on the Eagle River splay area on its 100%-owned Golden Sky project in Wawa, northern Ontario. The Eagle River Splay Area is located just south of Angus’ newly discovered Banded Iron Formation (BIF) Gold Zone where Angus has been actively drilling since 2021. This new exploration area covers an offshoot, or splay, of the Eagle River Deformation Zone which is host to Wesdome’s Eagle River Mine. The program will comprise approximately 2,000 metres testing 6 targets.
Highlights: Fall drilling program to test new gold targets in the Eagle River Splay Area; priority gold targets were identified with strong geophysical anomalies and are associated with a splay of the Eagle River Deformation Zone that is host to Wesdome’s Eagle River Mine.
Numerous historic surface samples <strong 5 g/t Au were collected in the exploration area. No historical drilling has been completed in this area. Fall program to comprise approximately 2,000 metres in 6 holes
Breanne Beh, CEO, stated: “We are very excited to begin exploration on this compelling new exploration area. In addition to its proximity to the high-grade Eagle River Mine, this area has numerous strong geophysical targets and surface gold showings and, remarkably, has never been drilled. This program epitomizes the reason why we were so attracted to the Golden Sky project, and why we have had so much early success with our exploration. This is just one of many new targets we are generating in this highly underexplored land package.”
The geologic setting of the Eagle River Splay is similar to that of the Eagle River mine to the south, comprising diorite, similar to that hosting most of the Eagle River mine, as well as volcanics, within a well-defined shear structure. The deformed and interlayered mafic and felsic volcanic rock units closely mimic the geologic setting of Wesdome’s Falcon Zone.
Historic rock samples collected at surface in this area have returned assay results of 12.34 g/t Au, 5.86 g/t Au, 5.35 g/t Au and 5.13 g/t Au. There has been no historical drilling completed in our portion of the Eagle River Splay. Angus’s detailed ground induced polarization (IP) survey, conducted by Abitibi Geophysics, has identified numerous chargeable trends in the exploration area that will aid with target selection. There is a spatial relationship between the chargeable IP trends and the historic grab samples with anomalous Au results.
The Golden Sky Project is located within the Mishibishu Lake Greenstone Belt of Northern Ontario, which is host to the high-grade Eagle River and the Mishi open-pit gold mines of Wesdome Gold Mines Ltd. The company’s 280-km2 land package is located approximately 50 km west of the town of Wawa and is situated immediately between the two Wesdome mines.
The project is host to the near-surface Dorset Gold Zone, which contains a historic estimated resource (using a 0.50 g/t Au cut-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).
Angus Gold’s flagship Golden Sky Project is immediately adjacent to the Eagle River Mine of Wesdome Gold Mines Ltd. Directors and insiders currently approximately own 36.8%, Delbrook Capital Advisors Inc. 16.4% and New Gold Inc. 9.9%, each based on the current issued and outstanding common shares of the company on a non-diluted basis.