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Angold Resources Launches Strategic Review Process and Appoints Galen McNamara as Interim CEO
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2022) - Angold Resources Ltd. (TSXV: ...
About this update from Manhattan Uranium Discovery Corporation
[{"type":"text","content":"Angold Resources Launches Strategic Review Process and Appoints Galen McNamara as Interim CEOVancouver, British Columbia--(Newsfile Corp. - December 15, 2022) - Angold Resources Ltd. (TSXV: AAU) (OTCQB: AAUGF) (FSE: 13L) (\"Angold\" or the \"Company\") is pleased to announce the appointment of the Company's Chairman, Galen McNamara, as Interim CEO effective immediately. In addition, Angold has today initiated a process to evaluate potential strategic alternatives (the \"Strategic Review\") to maximize the value of the Company's strongly mineralized and highly prospective gold project portfolio. The Company's board of directors will lead the Strategic Review to evaluate a range of alternatives, which could include the sale of part or all the Company or its assets; a merger or other business combination with another party; the forming of a separate company to hold one or more of the Company's projects, or other strategic initiatives. Galen McNamara, Chairman & Interim CEO, stated: \"Angold holds a number of strongly mineralized and highly prospective gold projects in premier jurisdictions. We will continue to work closely with our major shareholders and the broader mining investment community to maximize value for all Angold shareholders.\"Angold's Asset Portfolio Dorado (Region III, Chile)The 14,770 ha Dorado Project is situated in the Maricunga Gold Belt of Chile within the vicinity of major gold projects including Norte Abierto (50% Barrick / 50% Newmont), Lobo-Marte (Kinross) and Maricunga (Kinross), among others. The project is host to a significant bulk tonnage style gold system which outcrops at surface named Lajitas. Since beginning work on the project in 2021, the Company has invested approximately $5.5M in exploration with drill hole highlights at the Lajitas zone that include:DO-21-01: 302m at 0.71 g/t Au DO-21-02: 110m at 0.75 g/t Au DO-21-03: 248m at 0.75 g/t Au The project is also host to a number of previously unrecognized and undrilled exploration targets, the most notable of which is located 1 km south of the Lajitas zone and called Lajitas South. This prospect represents a new discovery opportunity featuring the presence of mineralization at surface grading up to 0.63 g/t Au in banded quartz-magnetite veins. Lajitas South also hosts significant and large-scale zones of hydrothermal alteration at surface, a co...