ST. JOHN'S, June 4, 2019 /CNW/ - Aurion Resources Ltd. (TSXV: AU) ("Aurion" or the "Company") is pleased to report that diamond drilling has recommenced at the Aamurusko Prospect on its wholly owned Risti Project in Northern Finland. A total of approximately 10,000 metres (m) is planned, utilizing a heli-portable drill rig. Drilling with the heli-portable rig will continue until late October when decreasing daylight hours will prohibit helicopter use.
To date 87 drillholes have been completed over a distance of approximately 1.7 km at Aamurusko. The drillholes were widely spaced from 25 m to 350 m apart. A total of 64 drillholes intersected gold mineralization over the entire 1.7 km distance from near surface to vertical depths of 180 m. The mineralization is open to the east and west and to depth.
Twenty-six (26) individual intercepts of greater than 5.0 g/t Au over > 0.5 m were made, including 15 intercepts greater than 15.0 g/t Au and 7 intercepts greater than 31 g/t Au (1 ounce per tonne). Several high-grade intercepts have been made including 789.0 g/t Au over 2.9 m, 42.40 g/t Au over 4.00 m, 12.48 g/t Au over 5.20 m and 24.50 g/t Au over 4.75 m.
Gold mineralization has been encountered in multiple rock-types including clastic sediments, gabbro dykes, and mafic volcanics.
Additionally, an extensive prospecting, geological mapping and trenching program is also underway throughout the Risti property.
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 province of Northern Ontario. The Aamurusko zone appears to be underlain by young unconformable clastic rocks (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 CLGB. Strong alteration including fuchsite, tourmaline, iron carbonate, albite associated with quartz veining and gold mineralization is seen along the entire length of this structure.
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, President and CEO
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, President & CEO, (709) 699-8300, (709) 722-2141, [email protected]