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Angold Resources (TSX-V: AAU)(OTC: AAUGF) CEO Adrian Rothwell on Drilling Multiple Potential Multi-Million Ounce Gold Deposits in 2022
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO for Angold Resources – Mr. Adrian Rothwell. Adrian, it's great to have you on. How are you doing?
Adrian Rothwell: I'm doing great. Thank you, Gerardo. Really looking forward to drilling and great to be on the show.
Gerardo Del Real: Well, listen, I reached out to you, so thank you for the quick response. And I reached out for two reasons. You just commenced a drill program, and you outlined targets at your Iron Butte Project in Nevada. You have multiple projects that I really liked, but the other reason that I reached out is because it's not often that the market removes the bulk of the risk from a stock. And in your case, it's happened right after a financing that was done, frankly, at higher prices than where you sit today. And so, when I see an opportunity where the market has essentially de-risked the stock and a good chunk of the downside action, I love to highlight that to our audience because I think Angold right now at current levels presents a pretty compelling speculation. Let's talk about the drilling. Let's talk about what you have in the pipeline. And let's talk about the rest of 2022 and why this is probably a pretty darn good entry point if you haven't already gotten in.
Adrian Rothwell: Well, I think you've taken the words out of my mouth, and I agree. Clearly, as CEO, any CEO likes to see their stock price a lot higher, but I've re-upped in every financing. And I did just think that where it is trading right now is a great entry point. We are advancing on our two flagship projects and definitely advancing our third project called Cordillera as well. I mean, it's a great opportunity for two projects with historic resources that actually look pretty good as is, but we're successfully expanding the mineralized envelopes for both of those. Well certainly Dorado last year through drilling and that's what we hope to do in Iron Butte. And yeah, as you pointed out, we have just deployed our drills or actually our drills will be deployed early next week. But we're out there at the moment building drill pads, constructing access to those pads. So we're ready to go.
Gerardo Del Real: Let's talk about the goals between the multiple projects. Clearly, you're marching toward having a multi-million ounce profile. And I know that Iron Butte has a non-43-101 compliant historic resource of 606,000 ounces of gold. But look, although it's non-compliant, that resource has multiple opportunities for expansion. And it's data that has proven to be pretty reliable thus far.
How do you take the company from where it's at today to obviously a much higher market cap and closer to that multi-million ounce profile that is 43-101 compliant.
Adrian Rothwell: Yeah. So a couple of things need to happen. I mean, first of all, obviously the general market for gold juniors does need to be in a better place. I think despite that though, we will march toward price appreciation just simply through discovery at the drill bit. And that's what we're targeting at Iron Butte. We're targeting in the historic resource zone, all of our holes are step out. We did quite an extensive re-assay program on the historic drilling on the property and the results came back very positive, and we are able to, in fact, use those historic results.
And that means for your listeners, we don't need to twin a hole. Always good. That'll probably save us about $2.5 to $3 million. That's a thumbs up number, but what it does allow us to do is to get right to it, and we're drilling under a notice of intent. We are able to probably get somewhere in the range of 10,000 to 15,000 meters of drilling done under that permit with the existing disturbance of sites. So, we will be able to do quite a large program.
We are targeting mineralization, that's open at Red Ridge and North Zone. Those are the two historic resource zones. And especially to the south and the depth at Red Ridge, and at depth to the north at North Zone as well. As well as between the two zones as well. So, our program of IT, MT surveys and geochemical testing over the last six months really has helped us map where those mineralized faults should be at depth. And obviously, the truth detector is the drill, so that's what we've targeted and really looking at drilling for resource expansion. And our objective is to build a resource at Iron Butte of over a million ounces of gold and ideally, have a resource update next year.
Gerardo Del Real: Where is the market cap today, Adrian?
Adrian Rothwell: Oh, we're looking at around about $14 or $15 million Canadian.
Gerardo Del Real: I suspect you close the year a lot higher than that. We'll see what the drill bit delivers. I'm not going out on a limb here by saying that given where you're at, given the quality of the projects and given the news flow and the fact that you're fully funded for this program. Is there anything else that you'd like to add?
Adrian Rothwell: Oh, well, we haven't even talked about discoveries in Chile and our Chilean project. I would encourage anyone that's interested to go to our website, take a look. They certainly have line of sight on those projects too, for multiple millions of ounces. And we are in an environmental permitting stage on Dorado, which is why you haven't seen a lot of news on that project. But trust me when I say it is there, and we are working on it. We'll come out with some great news at the end of the year on that one.
Gerardo Del Real: It's buy low, sell high, everybody. This is the buy low part of that. If you don't do one, you can't get the other. Adrian, thank you so much for your time. I appreciate it.
Adrian Rothwell: Thank you so much, Gerardo. Take care.