ST. JOHN'S, Nov. 11, 2019 /CNW/ - Aurion Resources Ltd. (TSX VENTURE:AU) ("Aurion" or the "Company") is pleased to announce that it has received assays from an additional 9 holes drilled at the Aamurusko Northwest (NW) prospect on its wholly owned Risti Project in northern Finland. These holes are follow-up to drill results reported on September 5th and June 26th, 2019, which included 13.31 grams per tonne ("g/t") Au over 19.54 metres ("m") in drill hole AM19095 and 10.60 g/t Au over 3.40 m in drill hole AM19097.
Drill hole AM19106 intersected 23.41 g/t Au over 11.10 m
including 51.95 g/t over 4.15 m, which includes 202.00 g/t Au over 0.50 m
Drill hole AM19109 intersected 6.84 g/t Au over 19.00 m
including 76.03 g/t Au over 1.50 m
Drill hole AM19105 intersected 16.17 g/t Au over 4.00 m
including 109.00 g/t Au over 0.58 m
Wide zones of disseminated and stringer mineralization accompany auriferous quartz veins up to 5.45 m wide
To date, at Aamurusko NW, twenty-four of twenty-seven drill holes (89%) intersected gold mineralization and twelve of twenty-four intersected 15 g/t Au or higher
Mineralization remains open along strike and to depth at Aamurusko NW
Aurion's exploration program is fully funded through 2020
See table of assays below and click the link to see maps and sections:
"We are very pleased with our continued success at Aamurusko NW," commented Mike Basha, President and CEO. "Drilling has demonstrated continuity of the high-grade mineralized zones and intersecting quartz veins in excess of 5 m wide speaks to the robust nature and potential of this gold bearing system. We have only scratched the surface of this target but believe we have defined a significant zone of mineralization. We have since moved the drill rig to Aamurusko Main, where we expect to have similar success."
Discussion Aamurusko NW is located 600 to 700 m northwest of the Aamurusko Main target area where several high-grade intercepts were previously reported, including 789.10 g/t Au over 2.9 m, 42.40 g/t Au over 4.0 m and 24.50 g/t Au over 4.75 m.
Mineralization at Aamurusko NW is defined by multiple zones of high-grade quartz veins (10 – 250 g/t Au), often with tourmaline, within a sericitized alteration envelope with highly anomalous disseminated pyrite (0.1 to 5 g/t Au), as well as narrow-sheeted and stockwork veinlets.
The NE-SW trending zone has been traced along strike by drilling for approximately 180 m. The zone continues from surface to a depth of at least 170 m vertically and is open at depth and along strike in both directions.
Assays have been received for 17 drill holes on 6 sections spaced 20 m apart from 2019 drilling. Assays are pending for two additional drill holes at Aamurusko NW and drilling is ongoing at Aamurusko Main and additional targets.
Aurion's exploration program is fully funded through 2020.
Aamurusko NW Drillhole Highlight Summary Table
diss VG within alt zone with sericite & fuchsite
concentrated section of VG
0.65m crack-seal quartz vein with VG, gal and pyrite
VG at lower contact of crack-seal quartz vein
diss py adjacent to 1.0m crack-seal quartz-tourm vein
no significant values
bleached zone within polymictic conglomerate
ext and crack-seal quartz veins with VG, tourm and py
includes polymetallic (gal, sph, cpy) qv with VG
most abundant VG within polymetallic quartz veins
ext and crack-seal veins with galena and tourm
Deformed quartz-ankerite-tourmaline-pyrite vein
crack-seal quartz vein with ankerite and pyrite
50% qvs (crack-seal and ext) with gal, py, tourm and VG
70% qvs (crack-seal and ext) with gal, py, tourm and VG
abundant VG within 3.45m wide crack-seal vein
1.7m wide quartz vein with pyrite and visible gold
VG-bearing quartz-ankerite-pyrite vein
quartz-ankerite pyrite veins
1.45m wide quartz vein with minor tourmaline
40% qvs (crack-seal and ext) with gal, pyrite and VG
abundant VG within 0.24m wide crack-seal vein
20% extensional and crack-seal veins
25% ext and crack-seal veins with pyrite
1.5m wide crack-seal vein with galena and abundant VG
crack-seal quartz-carb-pyrite vein
extensional and crack-seal veins with pyrite
includes a 5.45m wide crack-seal qv with VG
VG at lower contact of crack-seal quartz vein
All widths are core widths. True width is not known at this time.
All assay values are uncut.
Drill hole AM19102, which is located 80 m southwest of drill hole AM19094, intersected two zones of mineralization. The uppermost zone intersected 6.39 g/t Au over 2.85 m (including 14.55 g/t Au over 0.85 m) from 22.80 m downhole and the mineralization consisted of disseminated gold with sericite and fuchsite alteration. The second zone intersected 5.48 g/t Au over 1.22 m (including 18.55 g/t Au over 0.33 m), from 100.63 m downhole and approximately 65 m vertically below surface. This mineralization included a 0.65 m wide crack-seal textured quartz vein with visible gold ("VG"), galena and pyrite.
Drill hole AM19103, drilled 20 m below AM19102, intersected a zone of 10% disseminated pyrite and extensional quartz veining, with VG, adjacent to a 1.00 m wide crack-seal vein with tourmaline. This zone assayed 2.01 g/t Au over 2.00 m starting at 102.00 m downhole.
Drill hole AM19104, drilled 20 m below AM19103, intersected a 0.60 m wide crack-seal textured quartz vein starting at 109.1 m downhole with 2% disseminated pyrite adjacent to the vein. No significant assays were returned.
Drill hole AM19105, which is a 40 m step out NNE of AM19095, intersected three zones of mineralization. The first zone assayed 49.3 g/t Au over 1.00 m starting at 6.82 m downhole and is located within a moderately bleached interval of polymictic conglomerate. The second zone, which assayed 1.09 g/t Au over 13.65 m starting at 53.35 m, consists of a wide zone of both extensional and crack-seal quartz veins with VG, tourmaline and up to 5% pyrite. The third zone of 16.17 g/t Au over 4.00 m(including 109.0 g/t Au over 0.58 m) started at 97.10 m downhole. The highest grades from this interval correspond to a 0.4 m wide crack-seal polymetallic quartz vein with up to 20% galena + sphalerite + chalcopyrite + pyrite as well as coarse VG within an extensive interval of bleaching and silicification with 2 – 5% disseminated pyrite.
Drill hole AM19106 tested an interpreted fault oblique to the mineralized trend and intersected several zones of veining over 128 m including 20% extensional and crack-seal quartz veins from 83.10 – 144.0 m. Galena, pyrite and tourmaline were noted in the veins. Individual quartz veins were up to 3.45 m wide though the oblique angle of drilling means the widths are not considered representative. Notable intersections included 2.10 g/t Au over 13.50 m starting at 77.20 m downhole and 23.41 g/t Au over 11.10 m (including 51.95 g/t Au over 4.15 m) starting at 133 m downhole. VG was abundant in this latter interval and the highest-grade sample was 202.00 g/t Au over 0.50 m.
Drill hole AM19107, which was drilled 60 m below AM19105, intersected 1.74 g/t Au over 2.33 m starting at 54.82 m downhole. This interval includes a 1.45 m wide quartz vein with minor tourmaline with an alteration envelope of moderate to strong silicification, bleaching and disseminated pyrite.
Drill hole AM19108, drilled on section 40 m below AM19095, intersected a zone of 40% quartz veining (crack-seal and extensional) starting at 115.80 m downhole which assayed 3.47 g/t Au over 5.35 m including 35.10 g/t Au over 0.30 m. Galena, pyrite and VG were noted.
Drill hole AM19109, which was drilled with a more easterly azimuth from the collar site of AM19098 and AM19099, intersected multiple mineralized zones. The best zone was an interval of 20% extensional and crack-seal veins 20 m vertically below drill hole AM19101. This zone assayed 6.84 g/t Au over 19.0 m starting at 83.80 m including 16.36 g/t Au over 7.30 m. A 1.5 m wide crack-seal vein within this interval contained galena and abundant VG and assayed 76.03 g/t Au over 1.5 m.
Drill hole AM19110 was drilled on section approximately 40 m below AM19109. A 5.45 m wide crack-seal vein with VG was intersected and assayed 1.08 g/t Au over 5.95 m.
To date, eighty-four of ninety-nine (85%) drill holes completed at Aamurusko (Main and NW) have intersected gold mineralization. Twenty-eight have intercepts of 15 g/t Au or higher. At Aamurusko NW alone, twenty-four of twenty-seven (89%) drill holes intersected gold mineralization and twelve of twenty-seven have intercepts of 15 g/t Au or higher. Gold mineralization has been intersected in multiple rock types starting at surface to a depth of 180 m depth. Mineralization remains open along strike and at depth at both Aamurusko Main and NW. The 600 m distance between Main and NW, and to the east of Main, where numerous high-grade boulders have been discovered, has been virtually untested. The Aamurusko boulder field, comprising 1,210 angular boulders that assayed an average of 25 g/t Au (previously disclosed), is > 1.3 km wide, indicating there are possibly multiple sources.
The geological setting of the Risti project has many similarities to prolific gold-rich orogenic gold belts globally, specifically the Timmins camp of the Abitibi geological province of Northern Ontario. The Aamurusko zone appears to be underlain by young unconformable clastic rocks (meta-sandstones and conglomerates) of the Kumpu Group. These Kumpu Group conglomerates resemble the Timiskaming conglomerates of the Timmins and Kirkland Lake area of the Abitibi province and occur in a similar geo-tectonic setting (both represent the youngest stratigraphic sequence within their respective belts). The Kumpu Group and the Timiskaming group were deposited in late orogenic extensional basins. They form in relation to major movement along regional faults or deformation zones. In the Abitibi province, many high-grade, multimillion-ounce gold deposits are temporally and spatially associated with the Timiskaming conglomerates (or their equivalents) in close proximity to major regional deformation (fault) zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake deformation zones. The Kumpu Group appears to have been deposited in a similar geological setting adjacent to the Sirkka shear zone, which is a major deformation zone in the Central Lapland Greenstone Belt. Strong alteration including fuchsite, tourmaline, iron carbonate, albite and quartz veining is observed along the entire length of this structure.
Quality Assurance and Quality Control
All samples were delivered to ALS preparation facility in Sodankyla, Finland where sample preparation work was completed. All analytical work was completed at ALS facility in Loughrea, Ireland. ALS is an internationally accredited lab and are ISO compliant (ISO 9001:2008, ISO/IEC 17025:2005). All samples were analyzed for gold using the Au-AA26 procedure (50g fire assay with AAS finish: Lower Detection Limit 0.01 g/t gold; Upper Limit – 100 g/t gold). Any samples that returned over-limit values (>100 g/t gold) or had visual indication of mineralization, such as visible gold or prospective vein intervals (>100 g/t gold) were analyzed by Au-SCR24 1kg, Screen Fire Assay Au (0.05-1,000 ppm) by 1kg screen fire assay (50g nominal sample weight). The sample pulp (1kg) is passed through a 100-micron stainless steel screen. Any material remaining on the screen (>100 micron) is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction. The material passing through the screen (<100 micron) is homogenized and two sub-samples are analyzed by fire assay with AAS finish. The average of the two AAS results is taken and reported as the Au (-) fraction result. All three values are used in calculating the combined gold content of the plus and minus fractions. The gold values for both the (+) 100 and (-) 100 micron fractions are reported together with the weight of each fraction as well as the calculated total gold content of the sample. Multi-element analysis (ME-ICP61, four-acid digestion, 35 element ICP-AES) was completed on all samples. Certified standards and blanks were inserted every 20 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates.
Andrew Hussey, P.Geo., GIS Geologist and Database Manager, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release.
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward‑looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward‑looking information. The foregoing statements expressly qualify any forward‑looking information contained herein.
About Aurion Resources Ltd.
Aurion Resources Ltd. (Aurion) is a Canadian exploration company listed on the TSX Venture Exchange (TSX-V:AU). Aurion's strategy is to generate or acquire early stage precious metals exploration opportunities and advance them through direct exploration by our experienced team or by business partnerships and joint venture arrangements. Aurion's current focus is exploring on its Flagship Risti and Launi projects, as well as advancing joint venture arrangements with Kinross Gold Corp., B2 Gold Corp., and Strategic Resources Inc. in Finland.
On behalf of the Board of Directors, Michael Basha, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Aurion Resources Ltd.
For further information: Mark Santarossa, Vice President, Corporate Development, Cell: (416) 371-1325, Email: [email protected]