Categories: Precious Metals
Topics: General Precious Metals

Angold Resources (TSX-V: AAU)(OTC: AAUGF) CEO Adrian Rothwell on Discovering Two New Gold Zones & Drilling in Nevada

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of Angold Resources, Mr. Adrian Rothwell. Adrian, interesting day. All out invasion of the Ukraine by Russia, gold is surging, human consequences, obviously. How are you, sir?

Adrian Rothwell: Oh, I'm good. And thoughts with the people of Ukraine. But I'm doing well. Good to see gold is doing well. Love to see some of that love come down to the juniors. And I think if it keeps going, we'll see that hit the juniors, as it will Angold.

Gerardo Del Real: Agreed, look, war situation aside, let's talk markets, gold reached the high of $1,975. It then pulled back to the $1,915 level, which is classic, when you have these type of geopolitical situations playing out in real time. You have people that got caught not hedged. And then you have people that are having to cover short positions because the overall indices are getting hit. And so I think we can expect a higher gold price, though I caution that it's not likely to be a straight line higher. A great time for Angold to discover new gold zones. Can we talk about the news from a few days ago?

Adrian Rothwell: Yeah. It's great news. Maybe taking a step back and just explaining what we were doing at Iron Butte and what our plans are at Iron Butte. And last year, as many of your listeners know, we were focused on our other flagship property in Chile. In the first half of the year we were drilling in Chile. We got some great results, including 302 meters at 0.71 grams per tonne from surface in oxide. Great results. We've since put that project, we made a new discovery on a zone to the south of it and we've put that project into a plan of operations. So we're working through that in Chile and that at the end of the day will be a huge asset for the company on that project.

So in the meantime, we had the option to just go to Iron Butte and bang out a drill program. But what we decided to do was take a more systematic approach. We completed a series of geochem on the project, as well as to the north of the project area, along the range front, which is where we suspected we would see continued gold zones from the north of the existing historic resource. And we did some IT as well to confirm anything that we found at surface, which it did. And it confirmed that the gold zones, they dip shallowly under the pediment, and that really is the reason for staking the additional claims. They're open to the north and Northeast of where we were testing and these new claims cover those zones.

So very excited for new gold zones. We've done all the surface work we wanted to do to test potential drill targets, very happy that we did that. Otherwise, we would not have come up with these new gold zones. And yeah, look forward to testing this, as well as further south of the Red Ridge zone and North Zones in the upcoming drill program.

Gerardo Del Real: This is an area that's never been tested. There's already a historic resource, right of over 600,000 ounces. You have to be excited to get drilling going and start marching towards that million ounce mark, right?

Adrian Rothwell: Absolutely. I mean this initial drill program, it'll be quite small, 2,000 to 3,000 meters, but it is really aimed at exploration. And so we'll be testing a bunch of these targets. If we hit, it'll be big news and that'll warrant us going back and drilling deeper and looking at some of the deep targets we have as well with the core drill.

So yeah, and on that, we're looking at deploying drilling as soon as we can.

Gerardo Del Real: Excellent. Excellent. It sounds like, Adrian, you're going to have a very busy 2022 on both fronts. We started this conversation talking about gold and I told you all fair that I think we're due for new all time highs pretty soon. I think your timing is great. We know that a lot of companies have not recovered share price wise from tax loss selling season. I think there's a heck of an opportunity given where we're at, and I think companies that have catalysts like Angold with upcoming drilling at multiple places, have a real, real good shot at providing some pretty healthy returns. Any thoughts on that?

Adrian Rothwell: I think you said it all for me. I agree, I mean, key for us is to just execute on our programs. I guess I could say nothing fancy, just execution, and that's what our team at Angold is really working hard on right now.

Gerardo Del Real: Well, I'm looking forward to having you back on when results start trickling in. Thank you so much again for your time today Adrian. Stay safe out there.

Adrian Rothwell: Thanks Gerardo.