ST. JOHN'S, Feb. 12, 2019 /CNW/ - Aurion Resources Ltd. (TSXV: AU) ("Aurion" or the "Company") is pleased to report on the recent discovery of widespread gold mineralization at its 100% owned Launi East Project in northern Finland.
- 399 rock samples collected over a 2.0 km2 area average 2.47 g/t Au
- Local visible gold in rocks assaying up to 379.0 g/t Au
- Individual veins can be traced for > 100 m in bedrock
- No documented history of mineral exploration or mineral claims in the area
- Only fifteen days prospecting and recon geological mapping to date
- Launi East Exploration Licence became Valid Jan 21st, 2019
- Please follow the below link for maps and photos:
Reconnaissance prospecting on Aurion's wholly owned 4,250-hectare Launi East project has resulted in the discovery of several zones of gold mineralization comprising angular quartz boulders and outcrop over an area of approximately 2.0 km2. A total of 399 rock samples assayed from nil to 379.0 g/t Au and average 2.47 g/t Au.
Individual veins can be traced for > 100 m in outcrop and sub-outcrop and are generally < 1.0 m wide but can reach up to 1.9 m width. One (Prospect Area 1) zone of quartz veining comprising multiple parallel 5-30 cm wide individual quartz veins within a 2-5 m wide zone was traced for > 115 m. A total of 52 rock chip grab samples were collected over this distance, assaying from nil to 74.30 g/t Au, averaging 10.00 g/t Au. A total of 12 outcrop samples were collected over a distance of 90 m within the trend. They assayed from 0.009 g/t Au to 74.3 g/t Au, including 5 outcrop samples that assayed 74.30, 52.90, 48.60, 38.00 and 28.70 g/t Au. Significant alteration including fuchsite, tourmaline, sericite and iron-carbonate is widespread throughout the property.
These showings are within 1 km of a major flexure in the > 125 km long regional scale Sirkka Shear Zone which the property straddles. Aurion controls land holdings covering approximately 80 km of the Sirkka Shear Zone.
The Launi East property lies approximately 8-10 km south of the Risti Project, 10 km northwest of the Municipality of Sodankyla and is easily accessed by gravel road. The property has had no documented history of mineral exploration or mineral claims. The Launi East Exploration Licence was recently granted and came into validity on Jan 21st, 2019.
The sampling to date is preliminary in nature, and consists primarily of grab samples of sub-outcrop, outcrop and quartz boulders in glacial till. Although every effort is made to ensure that the samples are representative, the very nature of this type of sampling involves natural variations and inconsistencies. Insufficient work has been carried out to date in order to determine the source of many of the mineralized quartz boulders.
"The discovery of new gold mineralization in another area with no history of mineral exploration again demonstrates how underexplored the Central Lapland Greenstone Belt and the Sirkka Shear Zone are.", commented Mike Basha, President and CEO. "It is very early days at Launi. We look forward to advancing Launi further during the upcoming field season".
The geological setting of the Launi project has many similarities to prolific gold-rich orogenic gold belts globally, including the Timmins camp of the Abitibi province of Northern Ontario. The property straddles the > 125 km long Sirkka Shear Zone, a major regional fault zone which has over 40 individual gold prospects and deposits associated with it. Aurion has land holdings covering approximately 80 km of the Sirkka Shear Zone. In the Abitibi province, many high-grade, multimillion-ounce gold deposits are temporally and spatially associated with major regional fault zones such as the Porcupine-Destor or Cadillac Lake-Larder Lake deformation zones.
Quality Assurance and Quality Control
All samples were delivered to ALS Minerals preparation facility in Sodankyla, Finland where sample preparation work was completed. All analytical work was completed at ALS Minerals facility in Loughrea, Ireland. ALS Minerals 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-AA24 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 overlimit values (>90.0 g/t gold) or had visual indication of mineralization, such as visible gold or prospective vein intervals (>90.0 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 30 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates.
Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release. For more information on these projects please visit our website at www.aurionresources.com.
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.
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: Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release.