Angold Resources (TSX-V: AAU) CEO Adrian Rothwell on Hitting Gold From Surface & New Gold Discovery in Chile
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: Good. Thank you, Gerardo. Good to be on the show again.
Gerardo Del Real: Thanks for coming back on. The last time you and I chatted, we were eagerly anticipating assays from the Dorado project in the Maricunga Belt of Chile. Let me read the headline and then I would love for you to provide some context. The headline reads: Angold Drills 302 Meters at 0.71 g/t Gold From Surface and Intersects a New Gold Zone at Dorado. You know it's a tough day in the markets and the gold space when you announce the results that you announced and the stock is down instead of up. Right?
Adrian Rothwell: Yeah, absolutely. And you know, it was a bad day to release good results. And gold is off as well in the market and we won't need to go into why that is. I think everyone on the show is familiar with gold and gold price. So yeah, I'm not too worried about it. I know we are going to bounce back really strongly on these and, if we keep this up, on future results as well.
Gerardo Del Real: Let's talk about the first two holes, because the first hole, you said, ended and it's been terminated at 540. But these are assay's from just the first, is it the first 302 meters? Is that accurate?
Adrian Rothwell: It's actually the first 440 meters.
Gerardo Del Real: 440.
Adrian Rothwell: We're still waiting for assays for the last 100 meters of the hole. So these results are early. We released these because they're very good. The gold mineralization is running from surface and actually below that 302 meters, it's still running anomalous gold. It's just below what we are using as our cutoff in announcing drill results, which is 0.2 g/t and so it is a good sign. I mean, this is early, early days. It is a partial hole of our 10-hole drill program. And just on the second hole, we actually encountered mineralization way before we were expecting to hit it. So that constitutes a new gold zone for us as well. And all of this, the best news is that it's really close to surface or from surface.
Gerardo Del Real: So just to be clear, you're expecting assays still from the last 100 meters of hole one and the deeper portions of hole two. Correct?
Adrian Rothwell: Correct, as well as hole three through 10.
Gerardo Del Real: Excellent. Have you had any hiccups in regards to COVID restrictions or anything in the field? Or has that gone relatively smoothly for the team?
Adrian Rothwell: That's gone pretty smoothly. We have our team working in bubbles down at the site. So they are working 14 on/14 off for most people there. Some are seven on/seven off. Everyone's tested before they go to site, absolutely, as they are tested anyway for general health as they go to site, because it is a high elevation drill site, as is everything in the Maricunga, so yeah. No, it's been good. And getting the program set up did take us a little longer than we were anticipating, but we're talking matters of a week here or there, not any longer than that. Overall very good.
Gerardo Del Real: Excellent. Excellent. Well, I know you're still expecting assays, obviously. I'd rather have good numbers on a bad day in the gold space than bad numbers on a good day, so you're off to a good start. I know the second hole, obviously, was a bit lower grade, but it does indicate a new discovery and I know that you're excited to vector in towards that higher grade center. Right?
Adrian Rothwell: Yeah. Yeah. And those results will be in the middle part of hole two, we think, so this is a surprise. And just to reaffirm what we'd said in the news release, the grades that were coming back from assay are higher than what we were expecting also by, on average, between 30 and 40%. Some are coming back up to 80 through 90% higher than the previous grades assayed. So this just means that Lajitas looks like a larger and higher grade prospect than originally reported.
Gerardo Del Real: Good. Good, good, good. Well, I'm looking forward to having you back on when the rest of the assays start trickling in. Thank you so much, Adrian.
Adrian Rothwell: Yeah. Thank you, Gerardo.
Gerardo Del Real: Perfect. Bye now.
Adrian Rothwell: Bye.