ST. JOHN'S, Nov. 2, 2017 /CNW/ - Aurion Resources Ltd. ("Aurion") (TSX VENTURE: "AU") is pleased to provide an update of ongoing drilling at the Aamurusko prospect on its 100% owned Risti Project in Northern Finland.
Fourteen diamond drill holes have been completed to date totalling approximately 2630 m of an originally planned program of 3400 m (See Press Release dated Sept 14, 2017). Aurion has decided to extend the drill program to 5000 m, which will continue until early December.
A number of zones of quartz veining and quartz stock-working have been intersected to date with up to 3 – 5% pyrite + pyrrhotite + chalcopyrite + galena and trace visible gold. Sampling and logging of drill core, receipt and collation of assays will happen in mid-late December. Aurion will then release a comprehensive report of these results and a plan going forward for 2018 in early-mid January.
The primary objective of this drill program is to confirm the source of the Aamurusko boulder field which comprises a total of 717 large and angular quartz vein blocks which have assayed from nil to 2520 grams per tonne (g/t) Au and average 32.97 g/t Au with 102 assaying >31 g/t Au (one ounce per tonne – "Opt").
Summary The Risti Property comprises an area of approximately 15,000 ha and covers approximately 30 km of interpreted regional unconformities defined by the contact between the Kumpu Group conglomerates and the older mafic and ultramafic volcanics, of the Sodankyla and Savukoski Groups adjacent to the Sirkka Shear Zone, a major regional fault/deformation zone in the CLGB. The setting of the Aamurusko gold mineralization, is analogous to the setting of many of the world class gold deposits in the Timmins camp of the Abitibi province of Northern Ontario. More than 72.5 million ounces of gold in several deposits in the Timmins camp are hosted by polymictic conglomerates and mafic volcanics proximal to major unconformities adjacent to the regional Porcupine-Destor fault/deformation zone.
Aurion controls 200,000 ha of mineral tenements within the Paleoproterozoic, Central Lapland Greenstone Belt ("CLGB"). The primary focus is on this highly prospective previously un-recognized target concept within the CLGB, of which Aurion controls approximately 70 km along the Sirkka Shear Zone.
Qualified Person Mike Basha, P.Eng., P.Geo., Aurion's President and CEO, is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has approved the technical disclosure and verified the technical information in this news 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.
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: Mike Basha at (709) 699-8300 or (709) 722-2141 or [email protected]; Or Gord Fernandes, Capital Markets Advisor at (416) 805-9635 or [email protected]; For contact in Europe: Mathias Forss, MSc, Exploration Manager - Scandinavia, at + 358 50 591 3976 or [email protected]