Aurion Reports Results of Maiden Drill Program at Aamurusko
Aurion Resources Ltd. (“Aurion”) (TSX VENTURE: “AU”) reports that it completed a maiden 4380 m (21 drillholes) diamond drill program during Sept - December, 2017 at the Aamurusko gold prospect on its 100% owned Risti Project in Northern Finland.
The primary objective of the maiden drill program was to identify structure(s) that could be the source of the 1.4 km long by 2.5 km wide Aamurusko boulder trend which comprises a total of 717 large and angular quartz vein blocks assaying from nil to 2520 grams per tonne (g/t) Au and averaging 32.97 g/t Au.
The drilling to date has identified a significant structure(s) hosting at least two separate zones of multiple mineralized quartz vein, stockwork and breccia zones in the northern end of the Aamurusko gold trend over a strike length of 1.0 km. These targets, approximately 600 m apart, are blind and concealed under cover but remain open. Individual quartz zones up to 20 m wide (downhole thickness) were intersected with individual veins up to 6.3 m in width. True widths are unknown at this time.
The quartz veins and vein stockwork zones are variably mineralized with trace to 3% pyrite, pyrrhotite, chalcopyrite, galena, sphalerite, arsenopyrite and rare visible gold. The highest assay result to date is 10.1 g/t Au over 1.0 m with numerous zones of anomalous gold values throughout a considerable number of the drillholes.
Table 1: Summary of drill highlights
The first drillhole of the program to intersect significant veining and/or mineralization was AM17013. All subsequent drillholes (AM17014 - AM17021) also encountered zones of quartz veining and stockworking.
It is Aurion’s belief that these structures represent the source of much of the quartz within the Aamurusko trend but it has not yet discovered the source of the high grade boulders within these structures.
Drilling is ongoing with one drill rig further testing these significant mineralized structures as well as other targets.
The drilling results to date are further discussed below and maps can be found on our website https://aurionresources.com/site/assets/files/1238/newsrelease011717figures.pdf.
Northwest Valley Target
At the northernmost portion of the Aamurusko trend three drillholes AM17013 to 015 were drilled to depths ranging from 259.8 m to 443.3 m. These holes were designed to test a coincidence of large angular high grade boulders along a NW-SE trending slope break interpreted to be a major structure concealed under cover.
Hole AM17013 drilled at an azimuth of 070 at -45 degree dip to 443.3 m depth intersected multiple quartz vein, stockwork and breccia zones from 94.6 m to a depth of 391.0 m with individual zones up to 13.7 m wide. The most significant zone was from 192.0 to 205.7 m depth where the best assays included 4.5 g/t Au over 1.65 m and 8.8 g/t Au over 0.65 m.
Drillhole AM17014 was drilled from the same setup and azimuth as AM17013 at a dip of -55 degrees. It also intersected numerous wide zones of anomalous quartz veining. The best result of 2.2 g/t Au over 0.5 m came from within a 7.9 m wide quartz vein stockwork zone at a depth of 198.2 to 206.1 m.
Drillhole AM17015 was a 50 m step out to the southeast drilled to a depth of 259.8 m at a 70 azimuth and -45 degree dip. It also intersected numerous wide zones of quartz veining up to 7 m wide with sporadic anomalous gold values. The best result was a 3.0 m wide quartz zone which assayed 3.9 g/t Au over 3 m including 10.1 g/t Au over 1.0 m, at a depth of 230 m to 233 m.
A fence of drillholes AM17008 to 012 were drilled across the valley approximately 150 m south of the slope break but did not encounter significant mineralization.
The mineralization in drillholes AM17013 to AM17015 is hosted by a shallowly northeast dipping gabbro intrusion (sill?) between polymictic conglomerate and a sequence of quartzite and quartz pebble conglomerate. The Northwest Valley area auriferous mineralization remains open and is a prime target for Phase 2 drilling.
Southwest Slope Break Target
Six drillholes (AM17016 to 021) spaced 50 to 100 m apart were completed over a strike length of approximately 260 m approximately 600 m southeast of the Northwest Valley Target and immediately north of the main Aamurusko boulder trend.
All holes intersected a concealed major structural zone hosting multiple quartz vein, stockwork and breccia zones along an east west slope break. All holes were drilled at an azimuth of 360 degrees (south to north) at a dip of -45 to -55. The best results were 4.9 g/t Au over 1.0 m and 6.8 g/t Au over 0.5 m.
The mineralization here is predominantly hosted by quartzites and quartz pebble conglomerates of the Kumpu Group in contact with a gabbro intrusion/sill which lies along the unconformable contact between the Kumpu Group and the Sodankyla Group mafic and ultramafic volcanics. The Southwest Slope Break mineralization is one of Aurion’s prime targets.
Big Blocks Target
The first 5 drillholes AM17001 to 005 were drilled under a cluster of large, aligned high grade quartz blocks at the north end of the Aamurusko trend. Holes AM17006 and 007 were drilled to the west-northwest testing for up-ice sources of the big blocks. No significant quartz veining or mineralization was intersected.
Aurion is very encouraged by these drilling results to date, especially since Aamurusko is a blind target. Wide zones of quartz veining have been encountered in two separate zones 600 m apart. Additional drilling is planned at both prime targets and multiple other targets remain to be tested, including the gap between the two main zones. The area in the gap may represent a major inflection of the east-west structure. In structurally controlled gold systems an inflection or “jog” in a major structure is often a major zone of faulting and fracturing and a very favourable site for location of mineralization. Phase 2 drilling will test this gap.
Multiple quartz vein orientations (and likely multiple generations) have been recorded in the drilling and this is typical of most structurally complex orogenic gold systems. However, the majority of the intersected quartz does not appear to represent what is observed in the high grade boulders and particularly lacking is a certain indicative texture (“crack-seal”). Only a few veins with crack and seal textures were intersected in the drilling. It is likely that the drilling to date has not yet drilled in an optimal orientation to intersect mineralized quartz vein structure(s) that are the source of the high grade boulders with crack and seal textures. Phase 2 will drill test these targets from other orientations aiming to identify other blind mineralized structures.
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 approximately 200,000 ha of mineral tenements within the Paleoproterozoic, Central Lapland Greenstone Belt (“CLGB”). The primary focus is on this highly prospective previously unrecognized target concept within the CLGB, of which Aurion controls approximately 70 km along the Sirkka Shear Zone.
Since the discovery of the Aamurusko prospect in late 2016, Aurion has consolidated a commanding land position in the belt, completed three financings (including a $16 million financing with Kinross) with no warrants and completed a maiden drill program at Aamurusko. Additionally it has made multiple new high grade surface discoveries across the Risti project including the Notches and K2 (See Sept 14, 2017 press release) in the past year. A total of 2757 rock samples assaying an average of 10.1 g/t Au have been collected across the Risti project. Aurion has a strong balance sheet with approximately $20 million in cash, and is well positioned to continue drill testing Aamurusko, refining and testing other drill targets at Risti and for advancing other projects in its portfolio.
Quality Assurance and Quality Control
All saw-cut core and rock 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: Detection Limit 0.005 g/t gold; Upper Limit – 10g/t gold). Any samples that returned overlimit values (>10.0g/t gold) were automatically analyzed by gravimetric analysis, Au-GRA22 (50g gravimetric analysis: Detection Limit 0.05g/t gold: Upper Limit 1,000g/t gold). Any samples containing visible gold were analyzed by Au-SCR24 1kg, Screen Fire Assay Au (0.05-1,000ppm) by 1kg screen fire assay (50g nominal sample weight). The sample pulp (1kg) is passed through a 150 micron stainless steel screen. Any material remaining on the screen (>150 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 (<150 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 (+) 150 and (-) 150 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. Standards, duplicates and blanks are part of Aurion’s QA/QC protocols with certified standards being inserted every 20 samples. ALS has its own QA/QC protocol using standards, blanks and duplicates.
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.
On behalf of the Board,
President & CEO
For further information on Aurion Resources please contact:
Mike Basha at (709) 699-8300 or (709) 722-2141 or firstname.lastname@example.org; Or
Gord Fernandes, Capital Markets Advisor at (416) 805-9635 or email@example.com
For contact in Europe:
Mathias Forss, MSc, Exploration Manager – Scandinavia, at + 358 50 591 3976 or firstname.lastname@example.org
For further information on these projects please visit our website at www.aurionresources.com .
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.