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Angus Gold Provides Updates on Exploration Activities at the Ontario Golden Sky Project

Angus Gold Inc, a Canadian gold exploration company, is delighted to announce an update on its exploration activities at the wholly-owned Golden Sky project in Wawa, Ontario.

The Company finished a successful drill campaign consisting of around 42 drill holes, summing around 9,500 meters, focused on multiple gold targets ahead of the Dorset Deformation Zone and the Banded Iron Formation in 2022.

Depending on the promising visual outcomes, the Company armed a second drill rig to expedite the program during the summer. The initial drill rig mobilized on the BIF targets to outline the two new gold discoveries declared earlier in 2022 and also tested new targets along its strike length of 7 km.

The second drill rig monitored the high-grade gold mineralization at the Dorset Deformation Zone and tested multiple high-priority gold targets beside the deformation zone.

We have just completed a successful 2022 drill program targeting gold mineralization and new discoveries along both the Dorset structure and the BIF.

Steve Burleton, Chief Executive Officer, Angus Gold

Burleton continued, “Based on the promising visual results we are already planning an extensive drill program in 2023 to further delineate the gold zones identified in 2021 and 2022 as well as testing exciting new areas developed during the 2022 field work.

Although assay turnaround times have been slow, we are expecting to start receiving drill results in November and will be releasing them as soon as they are available,” added Burleton.

Also, Angus finished a wide-ranging regional exploration program that includes searching and geochemical sampling work that has made two new regions of focus for additional investigation.

The first is situated along an interpreted splay of the Eagle River deformation zone, below 2 km north of the operating Eagle River Mine of Wesdome Gold Mines Ltd., where surface samples over 5 g/t Au have been gathered.

Currently, a ground geophysical survey is in progress on this exploration target. The second regional area of focus is situated inside the Mishibishu deformation zone, which multitudes the Mishi and Magnacon deposits.

Anomalous geochemical samples were gathered in this area during the summer field program, and follow-up work has been scheduled for 2023. Besides these two areas, ground geophysical surveys are underway at present to cover additional BIF situated east and west of our current area of focus.

The Golden Sky Project

The wholly-owned Golden Sky Project is situated within the Mishibishu Lake Greenstone Belt of Northern Ontario, which is considered a host to the high-grade Eagle River and the Mishi open-pit gold mines of Wesdome Gold Mines Ltd.

The 267 km2 land package of the Company is situated around 50 km west of the town of Wawa and is located immediately between the two Wesdome mines.

The project is considered a host to the near-surface Dorset Gold Zone, comprising a historic estimated resource (utilizing a 0.50 g/t Au cut-off) comprising of an indicated resource of 40,000 ounces of gold (780,000 tons grading 1.4 g/t Au), and an inferred resource of 180,000 ounces of gold (4,760,000 tons grading 1.2 g/t Au).


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