Angus Gold Inc. (TSX-V: GUS) (OTC: ANGVF) announced Friday it completed all the earn-in obligations and acquired all interest in the Mishi property in Ontario.
Under the agreement, Angus will issue 700,000 shares to IAMGOLD Corporation (TSX: IMG), subject to the receipt of all regulatory approvals including the approval of the TSX Venture Exchange. The common shares issued have a statutory hold period of four months and one day from the date of issuance.
The Golden Sky Project is located within the Mishibishu Lake Greenstone Belt of Northern Ontario, which is host to the high-grade Eagle River and the Mishi open-pit gold mines of Wesdome Gold Mines Ltd. (TSX: WDO).
Angus Gold’s 267-square-kilometre land is located approximately 50 kilometres west of the town of Wawa and is situated immediately between the two Wesdome mines.
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The project is host to the near-surface Dorset Gold Zone, which contains a historic estimated resource (using a 0.50 g/t Au cut-off) consisting of an indicated resource of 40,000 ounces of gold (780,000 tonnes grading 1.4 g/t Au), and an inferred resource of 180,000 ounces of gold (4,760,000 tonnes grading 1.2 g/t Au).
Angus Gold Canadian mineral exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. Its flagship project is the Golden Sky Project in Wawa, Ontario. The project is next to the Eagle River Mine of Wesdome Gold Mines.
Company stock stayed flat on Monday at $0.96 on the Canadian Venture Exchange.
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natalia@mugglehead.com
