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High Grade Gold Confirmed at Top Chilean Project

Jon Brown Jon Brown, Stockhouse
1 Comment| September 14, 2021

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Click to enlargeAfter a decade of exploration in Chile’s Maricunga belt, at least 14 zones of gold mineralization, three precious metal deposits are in production, two more have proven reserves, and others are being drilled along this stretch.

Among the total geologic reserves of 420 metric tons of gold, exploration and development company Angold Resources Ltd. (TSX-V: AAU, OTC: AAUGF, Forum) has received assays of high-grade gold samples from surface samples on its Cordillera Project.

Since the 1980s, a steady stream of discoveries in the Maricunga Gold Belt has grown this region into one of the world's most prominent gold producers.

In the news:
Click to enlarge
In a media release for investors from early September covering this news, Angold’s Chief Executive Officer, Adrian Rothwell commented that the assay results confirm the potential for a large high sulfidation epithermal system under shallow cover at Cordillera, with a foundation of excellent proximity to infrastructure and current operations.

“With completion of the recent systematic surface geology, Cordillera is now drill-ready for the upcoming field season with a number of highly prospective targets identified. Angold is quickly building momentum toward the discovery and advancement of multi-million ounce gold resources in Chile.”

Highlights:

  • High grade: Gold mineralization at Cordillera has been confirmed with grades of 11.95 g/t Au, 7.6 g/t Au, 5.0 g/t Au, 3.7 g/t Au, and others, distributed on at least five gold-anomalous zones
  • Third drill-ready project: Cordillera is now the third drill-ready project in Angold's high-quality portfolio, along with Dorado (Chile) and Iron Butte (Nevada, USA). The Company is preparing for a drilling program at Cordillera in the upcoming 2021/22 drill season with these targets defined
  • New zones: Two new main zones recognized on the company's exploitation concessions, separated by an NW-SE structural corridor, allowing different erosion/exposition levels
  • Multiple mineralization targets: Results confirm the presence of five highly prospective drilling targets. Gold-rich epithermal quartz vein structures with hydrothermal breccias surround a mineralized Au-Cu diorite porphyry intrusion
  • Coincident anomalies: Geochemical results in elements such as Ag, As, Bi, Se, Te would indicate the existence of a near-surface high-sulfidation system

The Cordillera project covers at least five high-sulfidation epithermal gold target zones related to strong west-northwest-striking faults within a 10-square-kilometre area of limited outcrop (see map below). This area includes at least nine high-grade gold assays from bedrock samples, strongly anomalous geochemical results in gold and pathfinder elements, outcropping porphyry, hydrothermal and phreatic breccia intrusions, and sheeted or stockwork quartz-iron oxide or copper oxide veinlets.


(Overview of the property, five mineralized targets contained within the two main NW-SE zones, and post-mineral cover zone. Image via Angold Resources Ltd.)

Angold's 2021 exploration included geologic mapping, bedrock sampling, spectral analysis, talus-fines geochemical sampling, and magnetic and IP/resistivity surveys. Phase I survey results over a small part of the property show strong geophysical contrasts and indicate that results from completed surveys should assist in targeting drill holes.
Following the completion of geophysical surveys, the Cordillera Project will be ready for drilling.


Investment opportunity:

Angold is targeting large-scale mineral systems in the proven districts of Maricunga, Nevada and Ontario.

The company owns a 100% interest in the Dorado, Cordillera and South Bay-Uchi projects, and certain claims that append the optioned Iron Butte project.

It was there that the company received recent assay results earlier in the summer from the Lajitas area at the Dorado project, also in the Maricunga belt of Chile. Indicating new gold zones, the team extends mineralization, expanded higher grade potential of the deposit, and is planning a significant second drill program for later in 2021. Infrastructure remains at site for further 2021 drilling.

To find out more about everything going on with Angold Resources, visit the company’s website at angoldresources.com.


FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.


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