12:14 PM EDT, 10/16/2024 (MT Newswires) -- Angus Gold ( ANGVF ) on Wednesday released assay results from the first four exploration holes completed on the BIF Gold Zone as part of its August drill program at the Golden Sky Project in Wawa, Ont.

Down-plunge drilling results at the BIF Gold Zone indicate the mineralized system is thick and continuous, with Hole GS24-157 returning 111.0 meters of mineralization grading 1.0 grams per tonne of gold (Au), including 5.4 g/t Au over 3.0 meters and 6.0 g/t Au over 1.8 meters.

Hole GS24-156 returned 9.6 meters of mineralization grading 1.1 g/t Au. Similar to GS-24-157, holes GS-24-154, GS-24-155 and GS-24-156 returned a pattern of repeating > 2.0 g/t Au intersections within a broad envelope of lower-grade Au mineralization.

"We are very pleased with the results so far from our 2024 BIF drilling program, with additional results expected in the coming weeks," said Chief Executive Officer Breanne Beh. "The results of GS-24-157 are incredibly encouraging as we were able to gain a better understanding of just how large this BIF-hosted gold system could potentially be.... In addition, the discovery of another zone of mineralization at depth in GS-24-156 is very encouraging as it indicates the continued exploration potential of the 6 kilometres of banded iron formation present on the Golden Sky property."

The company's shares were last seen up $0.01 to $0.50 on the TSX Venture Exchange.

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