Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Angus Gold (TSXV: GUS) recently completed its winter drilling program at Dorset with the discovery of a new high-grade zone that includes its best gold intercept to date – 7.0 g/t over 12.4 metres, including 21.7 g/t gold over 3.3 metres.
The discovery hole, GS24-136, was drilled along the most western section of the Dorset zone but outside the historic resource area.
The discovery appears to have revealed a new style of mineralization with quartz-veining and numerous instances of visible gold. Previous gold mineralization at Dorset occurred in areas of broad, disseminated material with strong altered zones that lack significant veining.
The potential new zone is open for about 2 km. Additional drilling is planned for further evaluation.
“This high-grade discovery on the Dorset trend is a remarkable achievement for our exploration team. This new zone remains completely open to the west, and at depth, and confirms the tremendous potential at Golden Sky to make additional gold discoveries, at higher grades, within this vastly underexplored area,” said Angus CEO Breanne Beh.
The Dorset target is part of Angus Gold’s 100%-owned Golden Sky project 50 km west of the town of Wawa, Ontario. It has a historic (non-compliant) indicated resource containing 40,000 oz. of gold in 780,000 tonnes grading 1.4 g/t gold and an inferred resource of 180,000 oz. in 4.8 million tonnes grading 1.2 g/t gold.
