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Wednesday, May 31, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Angus Gold finishes acquiring IAMGOLD’s Mishi property

The common shares issued have a statutory hold period of four months and one day from the date of issuance

Angus Gold completes earn-in of IAMGOLD's Mishi property
Golden Sky Project, Wawa, Ontario. Photo via Angus Gold.

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.

Read more: Calibre Mining finds robust drill results from Golden Eagle project

Read more: Calibre Mining offers a ‘very attractive’ value-risk proposition: Haywood Securities

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.

Read more: Wesdome Gold Mines updates its executive team

Read more: Low production levels led to a challenging year for the company: Wesdome Gold


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