Angold Resources (TSX-V: AAU) CEO Adrian Rothwell on Expanding Mineralization & Discovering Two New Zones at Dorado
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Angold Resources, Mr. Adrian Rothwell. Adrian, how are you today?
Adrian Rothwell: I'm great. Thank you, Gerardo. How are you doing?
Gerardo Del Real: I am well, it's great to have you back on, you had some news yesterday I wanted to chat with you about. You extended mineralization in two new zones at Dorado. Can you provide an overview of these results? And then I want to get into the fact that there's still actually assays pending at the bottom part of these holes, but really good numbers. And I got to believe the company's really encouraged by what you're seeing this early in the game.
Adrian Rothwell: Yeah. Well, look, we've gotten assays back on hole two. We started getting the top of hole two in the last drill release about a month ago and that is really good news for us. We have the two zones and they're low grade, but we were not expecting to hit any mineralization until we got down to around that 200 meter level in hole two, which is the main part of the historic resource. So these two new zones, we got 16 meters at .35 and 16 meters at .38 grams per tonne, hitting from relatively close to surface, about 58 meters down from surface. You know, these are not high grades, but this is excellent for us as a target for another phase of drilling in the future. So two new gold zones there.
Secondly, the third hole has hit some fantastic mineralization about 50 meters to the north of where hole one and two are. And that's an extension for us to the historic resource. And as I was saying to you before, Gerardo, these deposits, Maricunga style gold porphyries, they don't necessarily have a large footprint. So a 50 meter step-out can mean a lot of tonnage of gold mineralization. So of course that's work for us to do.
Gerardo Del Real: Absolutely. And let's get into the numbers on hole three because you reported 140 meters grading .82 grams per tonne gold. That included an intercept of 74 meters of 1.25 grams per tonne gold. So I think that just speaks to the widths of the mineralization that you're seeing now, right?
Adrian Rothwell: Correct, correct. And we've also been hitting some rather high grade intercepts. Hole three, we had included in that intercept was a two meter interval of about 4.06 grams per tonne. And that is a very high grade for Maricunga. I mean, high-grade in this region of the world is around one to 1.5 grams per tonne. So that's an excellent, excellent result for us.
Gerardo Del Real: Fantastic. Walk me through, Adrian, the next couple of quarters and the news flow, because obviously, you know, we have a Fed policy that is very accommodative and looks to be, looks to be I'll caution, putting a fire back under the gold price. We've seen a consolidation here that's lasted for several months. The market reacted really well today to Mr. Powell's statements. And that's obviously very favorable for companies that are active, are drilling, are cashed up and are actually discovering something, right?
Adrian Rothwell: Yeah. So I just want to say, this is really early in our drill program. We will be drilling continuously through to the end of April. There's 10 holes total. So, you know, this is just the third hole. We're drilling holes four and five right now, which step out into the mineralized zone at depth. Also, we've got some assays pending on holes two and three for the bottom bit of those holes. And most interesting to me is on hole two, we start getting back into mineralization at depth with six meters at .51 grams per tonne. So not a lot, again, but you know, we'll be... we've got around about another hundred meters of drilling on hole three that are in for assays. So yeah, we will be releasing news over the next six weeks or so, to eight weeks on that program.
Gerardo Del Real: Fantastic. Well, I'm looking forward to having you back. Anything else to add to that, Adrian?
Adrian Rothwell: No, but as usual, check us out on our website angoldresources.com and we try and keep that up to date as best we can.
Gerardo Del Real: Fantastic. Thank you for your time. Appreciate it.
Adrian Rothwell: Thank you, Gerardo.