Angus Mining Provides Update of Drilling Results Following Completion of Phase One Exploration Program at Ondundu Gold Project
28 September 2011 - 10:00PM
Marketwired Canada
Angus Mining (Namibia) Inc. ("Angus Mining" or the "Company") (TSX VENTURE:ANA)
is pleased to provide an update of drilling results from the Ondundu Gold
Project in Namibia following the completion of its phase one exploration
program.
In the first phase of exploration, the Company completed over 12,900 meters of
diamond drilling, and 1,200 meters of reverse circulation drilling across 61
drill holes. The program was designed to test the strike extent and width of the
Ondundu Main Zone ("OMZ"), and to delineate a low grade, bulk tonnage gold
resource. A map of the Ondundu gold project is available at
www.angusmining.com/projects.php.
Through the addition of a second assay laboratory in Johannesburg, South Africa,
the Company has worked through outstanding assay issues, and is satisfied that
the results returned to date provide an accurate representation of the extent of
gold mineralization in the OMZ Zone.
Angus Mining CEO, Fraser Buchan comments; "while on the whole results at the
Ondundu Project have been slightly lower grade than we expected, mineralization
has been widespread and consistent, and the potential for defining a large open
pit deposit remains intact. The Project merits further exploration work, which
we expect to complete through our partnership with Forsys Metals, with the aim
of further defining an economic gold resource."
The Company expects to provide a corporate and strategic update related to the
Ondundu Gold Project, and the Company's majority ownership position in
SilverReef Resources, in the coming weeks.
Highlights from the Phase One Exploration Program at the Ondundu Gold Project
are presented in a table 1, on page 2. Portions of these results have been
previously disclosed.
Table 1: Highlighted Results from Phase One Drilling Program at Ondundu
Hole Number Intersection Assay Including
----------------------------------------------------------------------------
ADD003 40m - 206m 166m @ 0.34 g/t
----------------------------------------------------------------------------
ADD005 115m - 135m 20m @ 0.40 g/t
----------------------------------------------------------------------------
ADD006 20m - 105m 85m @ 0.40 g/t 6m @ 1.13 g/t
9m @ 0.83 g/t
124m - 163m 39m @ 0.35g/t
----------------------------------------------------------------------------
ADD007 75m - 307m 232m @ 0.33 g/t 19m @ 0.80 g/t
----------------------------------------------------------------------------
ADD008 0m - 77m 77m @ 0.31 g/t
----------------------------------------------------------------------------
ADD009 20m - 229m 209m @ 0.54 g/t 110m @ 0.81 g/t
29m @ 1.99 g/t
9m @ 0.65 g/t
----------------------------------------------------------------------------
ADD010 46m - 162m 116m @ 0.32 g/t 29m @ 1.66 g/t
----------------------------------------------------------------------------
ADD012 40m - 158m 1m @ 7.12 g/t
----------------------------------------------------------------------------
ADD016 125m - 128m 3m @ 1.66 g/t
207m - 208m 1m @ 3.83 g/t
286m - 287m 1m @ 2.95 g/t
----------------------------------------------------------------------------
ADD018 26m - 31m 5m @ 1.50 g/t
48m - 49m 1m @ 3.35 g/t
54m - 56m 2m @ 1.93 g/t
----------------------------------------------------------------------------
ADD021 63m - 72m 9m @ 0.99 g/t
----------------------------------------------------------------------------
ADD022 164m - 193m 29m @ 0.81 g/t 1m @ 7.94 g/t
2m @ 3.15 g/t
----------------------------------------------------------------------------
ADD024 144m - 145m 1m @ 7.19 g/t
----------------------------------------------------------------------------
ADD025 120m - 121m 1m @ 3.07 g/t
201m - 202m 1m @ 3.66 g/t
----------------------------------------------------------------------------
ADD029 38m - 71m 33m @ 0.96 g/t 1m @ 5.81 g/t
1m @ 6.33 g/t
171m - 173m 2m @ 4.40 g/t
----------------------------------------------------------------------------
ADD033 66m - 91m 25m @ 0.85 g/t 4m @ 1.87 g/t
100m - 116m 16m @ 0.97 g/t
138m - 141m 3m @ 1.21 g/t
----------------------------------------------------------------------------
ADD034 20m - 230m 210m @ 0.80 g/t 1m @ 5.56 g/t 7m @ 3.78 g/t
4m @ 4.12 g/t 4m @ 2.35 g/t
1m @ 12.42 g/t 1m @ 16.82 g/t
4m @ 3.31 g/t 1m @ 7.55 g/t
----------------------------------------------------------------------------
ADD036 20m - 230m 103m @ 0.98 g/t 10m @ 1.92 g/t 2m @ 2.48 g/t
2m @ 4.26 g/t 1m @ 5.22 g/t
1m @ 6.04 g/t 5m @ 1.56 g/t
----------------------------------------------------------------------------
ADD037 61m - 69m 8m @ 0.80 g/t
86m - 89m 3m @ 1.92 g/t
112m - 170m 57m @ 0.98 g/t 1m @ 8.22 g/t 9m @ 2.77 g/t
1m @ 13.50 g/t
----------------------------------------------------------------------------
ADD044 16m - 30m 14m @ 2.49 g/t 8m @ 4.04 g/t
----------------------------------------------------------------------------
ADD047 0m - 19m 19m @ 0.95 g/t
45m - 55m 11m @ 0.76 g/t
About the Ondundu Gold Project
The Ondundu Gold Project is located on a 19,969 hectare contiguous license in
the Damara Belt of West-Central Namibia, approximately 250km from the Capital of
Windhoek. Gold mineralization at Ondundu occurs in bedding-conformable quartz
veins and in wall rocks adjacent to the veins. The OMZ Zone is located within
the sheared common limb of an anticline and syncline, with mineralization
extending along a strike length of 2.7km, with widths up to 400m and depths to
250m.
Quality Assurance/Quality Control
Dr. Roger Laine is the qualified person under National Instrument 43-101 who has
supervised the preparation of and verified the technical information presented
in this press release. For a summary of the geology, nature of the
mineralization and other technical information with respect to the Ondundu Gold
Project, please refer to the Technical Report on the Ondundu Gold
Project-EPL3195, Namibia, filed September 17, 2010 at www.sedar.com.
Angus Mining (Namibia) Inc. adheres to a rigorous QA/QC program across all
aspects of the sampling and analysis process. All drill samples are held in a
secure warehouse in Omaruru, to and from which they are handled by independent
courier companies. Diamond core is marked, logged and split at site, where half
is maintained for future reference, and half is sent for analysis.
Diamond drill core samples from Ondundu are processed by screen metallic
analysis and fire assay at SGS and Intertek/Genalysis, both located in
Johannesburg, RSA. Standards and blanks are inserted by the laboratories and/or
Angus every 20 to 30 samples.
About Angus Mining (Namibia) Ltd.
Angus Mining (Namibia) Inc. is a Canadian based precious metals exploration
company focused on developing the Ondundu Gold Project in West-Central Namibia
via a joint venture agreement with Forsys Metals Corp and various silver
properties in Nevada through its ownership in Silver Reef Resources Ltd. The
Company's goal is to deliver superior shareholder returns by identifying,
acquiring and developing high quality assets in a safe and socially responsible
manner. Angus Mining is committed to providing economic and social benefit to
the Namibian community through the responsible development of mining assets in
the Country.
Forward-Looking Statements
This release contains certain "forward looking statements" and certain
"forward-looking information" as defined under applicable Canadian and U.S.
securities laws. Forward- looking statements can generally be identified by the
use of forward-looking terminology such as "may", "will", "expect", "intend",
"estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
Forward-looking statements are based on forecasts of future results, estimates
of amounts not yet determinable and assumptions that, while believed by
management to be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies. Certain of the
statements made herein by the Company are forward-looking and subject to various
risks and uncertainties, both known and unknown, many of which are beyond the
ability of the Company to control or predict. Known and unknown factors could
cause actual results to differ materially from those projected in the
forward-looking statements. Forward-looking information is subject to known and
unknown risks and uncertainties that may cause the Company's actual results,
performance or achievements may be materially different from those expressed or
implied by such forward-looking information, and are developed based on
assumptions about such risks, uncertainties and other factors set out here in,
including but not limited to the inherent risks involved in the exploration and
development of mineral properties, the uncertainties involved in interpreting
drill results and other exploration data, the potential for delays in
exploration or development activities, the geology, grade and continuity of
mineral deposits, the possibility that future exploration, development or mining
results will not be consistent with the Company's expectations, accidents,
equipment breakdowns, title matters, labour disputes or other unanticipated
difficulties with or interruptions in operations, fluctuating metal prices,
unanticipated costs and expenses, uncertainties relating to the availability and
costs of financing needed in the future, regulatory restrictions, including
environmental regulatory restrictions and liability, competition, loss of key
employees, risks inherent to conducting business activities in the developing
world and other related risks and uncertainties. The Company undertakes no
obligation to update forward-looking information except as required by
applicable law. Such forward-looking information represents management's best
judgment based on information currently available. No forward-looking statement
can be guaranteed and actual future results may vary materially. Accordingly,
readers are advised not to place undue reliance on forward-looking statements or
information.
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