Angus Gold drills 2.6 g/t gold over 11 metres at Golden Sky, Ontario

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Angus Gold Inc. [TSXV-GUS; OTC-ANGVF] reported assay results from 23 infill and resource expansion holes that were completed as part of its winter 2024 drill program at the Golden Sky project near Wawa, Ontario. The majority of the drill holes are part of the infill program, designed to test for the presence of potential high-grade ore shoots within the historic Dorset gold resource. Also included in this release are the results from the first two resource expansion holes that have been received, one at depth and one located southeast of the deposit, also testing for higher-grade mineralization.

Breanne Beh, CEO, stated: “We are extremely pleased with these results from the winter 2024 drilling program on the Dorset zone. Our goal for 2024 is to target higher grades on all of our known gold systems and these preliminary results at Dorset show we can follow higher-grade ore shoots consistently. This is a critical step in the evolution of Dorset, allowing us to model higher-grade zones and improve the attractiveness of this gold deposit. In addition to identifying higher-grades, we are also encouraged by the continued growth potential of Dorset, as demonstrated by the success of early results from this winter’s expansion drilling program. We have more than doubled the potential length of the resource since 2023 and we are still open along strike with more than five kilometres of untested shear to explore. Results are pending on additional expansion holes from the winter program, which will be released as soon as they are ready.”

The results from infill holes GS24-114 and GS24-125 were particularly encouraging, intersecting 2.6 g/t gold over 11 metres, including 4.4 g/t Au over three metres and 2.7 g/t Au over 10.6 metres, including 3.6 g/t Au over 7.1 m, respectively. These holes confirmed Angus’s ability to target higher-grade material within the historic resource area using intersections of its newly modelled shear zones to identify the orientations of hypothesized ore shoots.

Resource expansion hole GS24-117 was planned as a 25-metre step-out hole at depth, targeting the extension of a hypothesized high-grade ore shoot, and was successful at intersecting 10.2 metres of one g/t Au, including three metres of 2.7 g/t and 5.2 metres of 2.3 g/t Au. There now remains 200 metres of this untested ore shoot between GS24-117 and MC-07-127, an isolated historic hole that intersected 2.14 g/t Au over 15.1 metres at 410 metres true depth.

This undrilled trend represents an area for Angus to significantly improve upon the historic resource calculation. GS24-128 was planned to the southeast of the Dorset resource area, along an untested section of a newly interpreted shear zone that controls high-grade mineralization within the Dorset gold zone. The hole was successful at intersecting 1.1 g/t Au over 20.8 metres, including 2.4 g/t Au over six metres. Refer to original press release for complete assays.

The continuing drill program on the company’s 100%-owned 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’s drill programs on the Dorset gold zone have been successful at extending the strike length of the previously modelled zone from 750 metres to 1.7 km.

The Dorset gold zone contains a historic estimated indicated resource (using a 0.50 g/t Au cut-off) of 40,000 ounces of gold grading 1.4 g/t Au, and an inferred resource of 180,000 ounces of gold grading 1.2 g/t Au. The Dorset zone lies within the Mishi Creek deformation zone (MCDZ). The MCDZ can be traced for at least seven kilometres within the Golden Sky project and has seen very little historic exploration along most of its strike length.

The 100%-owned Golden Sky project is located within the Mishibishu Lake greenstone belt of northern Ontario, which hosts Wesdome’s high-grade Eagle River and the Mishi open-pit gold mines. The company’s 290- 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 (4.76 million tonnes grading 1.2 g/t Au).

Angus Gold’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. [TSX-WDO; OTCQX-WDOFF].

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