TSX-V: AU
ST. JOHN'S, Feb. 20, 2020 /CNW/ - Aurion Resources Ltd.
(TSX VENTURE:AU) ("Aurion" or the "Company") reports initial
assay results from a maiden 7 drill hole (1,537 m) reconnaissance diamond drill program at
the Christmas Deformation Zone (CDZ) gold target on its 100%-owned
Launi Property in Northern
Finland. Launi is located approximately 8 km
southeast of Aamurusko on the Company's Risti property and is
bisected by the Sirkka Shear Zone. Drilling, which was completed
between November 13 to December 17,
2019, targeted a 400 m long
section of the CDZ, as well as two parallel structures: Big Blow 1
and Big Blow 2. The Big Blow structures host quartz veins up to
2.8 m wide in trenching and have been
traced on surface for between 120 m for Big Blow 2 and
420 m for Big Blow 1. These Big Blow veins are 125 m to
200 m east of, and parallel to, the CDZ, which itself is
parallel to the Sirkka Shear Zone.
Highlights:
- Initial drilling at the CDZ area of Launi East appears to have
intercepted the Big Blow 1 vein in three instances over
approximately 400 m of strike length
and to a depth of approximately 130
m. Two of the three intercepts included intervals grading
above 3 g/t Au.
- The CDZ, which is a high strain zone with quartz veining, was
intersected in five drill holes testing approximately 400 m along strike and down to 50 m vertically below surface. Assays have been
received for 4 of these 5 intersections and the values returned to
date have been low grade. The CDZ is projected to extend an
additional 1.2 km to the southeast based on quartz vein outcrops
and boulders and remains open to the northwest and at depth.
- Drill hole LN19001 intersected 3.48 g/t Au over 0.45 m from Big Blow 1 quartz vein from 49.35 to
49.80 m.
- Drill hole LN19006 intersected 1.30 g/t Au over 2.35 m from Big Blow 1 quartz vein from
213.55 m to 215.9 m, including 6.61 g/t Au over 0.33 m; 0.7 m of
core was lost in the broader interval, which was given a grade of 0
g/t Au.
- Prospecting has identified multiple additional mineralized
zones outside of the CDZ over a 1.0 by 5.5 km area, with several
visible gold occurrences.
- Drilling has recommenced at Launi.
Link for plan map of the drill holes:
-
-
https://aurionresources.com/site/assets/files/1343/nr20-02figures.pdf
Comments
"Initial drilling at the CDZ area of Launi East appears to have
intercepted the Big Blow 1 vein in three instances over
approximately 400 m of strike length
and to a depth of approximately 130
m. Two of the three intercepts included intervals grading
above 3 g/t Au. Gold grades were possibly impacted by poor core
recovery. Other zones in the CDZ showing anomalous gold grades were
also possibly impacted by core loss," commented Dave Lotan, Chairman. "Our initial efforts at
the CDZ area suggest that gold is confined to quartz veins. Further
testing of the CDZ will be refined to test known veins in the most
efficient manner. Drilling has recommenced at Launi to further test
the CDZ as well as the Bonanza, Midsommer and Hematite City
targets."
Discussion
The Launi East property overs a flexure in the Sirkka Shear Zone,
which the GTK (Geological Survey of Finland) defines as a major (> 125 km long)
tectono-stratigraphic boundary between Archean and Proterozoic
terranes. The arcuate stratigraphy on the Launi East property
includes a folded package of siliceous sandstones and mafic to
intermediate volcanic rocks.
The primary objective of the maiden drill program was to drill
test the gold mineralization encountered in surface and channel
sampling that identified the 450 m
long Christmas Deformation Zone and associated parallel Big Blow
quartz veins. Big Blow 1 and Big Blow 2 are fault-fill veins
75 m apart that display pinch and swell geometries and
crack-seal/ribbon textures with hematite and fuchsite alteration.
While drilling has not yet reproduced the gold grades encountered
from surface trenching (27.01 g/t Au over 1.77 m in trench 4 – see November 27, 2019 news release), the property
continues to be very prospective. Wide zones of silicification,
sericite, fuchsite and hematite alteration as well as quartz veins,
up to 2.90 m wide, visible gold and
high strain zones were encountered in drilling. Fault zones
with deep weathering were encountered and the depth of oxidation
raises the possibility that the iron oxides in the quartz veins may
represent weathered sulphides. Current drilling on the CDZ has only
tested to 50 m vertically below
surface. Gold is usually not homogenously distributed in
orogenic gold deposits and it is therefore important to test the
vertical and lateral extents of the system to discover the
highest-grade areas. The Christmas Deformation Zone is interpreted
to extend an additional 1.2 km to the southeast, based on outcrop
and boulders, beyond the southern limit of the 2019 drill program
and the CDZ remains open to the northwest. Multiple other promising
targets remain including the fold axis immediately west of the CDZ,
as well as the Bonanza, Midsommer and Hematite City targets.
Hole_ID
|
Azimuth
|
Dip
|
From
_m
|
To_m
|
Width
(m)
|
Au_ppm
(g/t)
|
Comments
|
LN19001
|
235.2
|
-44.6
|
49.35
|
49.8
|
0.45
|
3.48
|
Big Blow 1 quartz
vein with visible gold and Fe-oxides within high strain
zone
|
LN19002
|
234.7
|
-45
|
21.5
|
22.1
|
0.6
|
no significant
assay
|
Big Blow 2 quartz
vein with Fe-oxides
|
LN19002
|
|
|
159.25
|
162.15
|
2.9
|
no significant
assay
|
Big Blow 1 quartz
vein with heavy concentrations of Fe-oxides
|
LN19003
|
59.3
|
-45.4
|
28.3
|
30
|
1.7
|
0.16
|
Vuggy CDZ quartz vein
with massive hematite within high strain zone
|
LN19004
|
55
|
-46.2
|
76.3
|
77.25
|
0.95
|
0.09
|
25% vuggy CDZ quartz
veins with hematite within fuchsitic high strain zone
|
LN19005
|
55
|
-55.1
|
30.55
|
33
|
2.45
|
0.05
|
CDZ minor quartz
stockwork with hematite within sericitic high strain
zone
|
LN19006
|
54.4
|
-46.1
|
49.5
|
50.6
|
1.1
|
no significant
assay
|
CDZ high strain zone
with strong hematite alteration, quartz in broken core
|
LN19006
|
|
|
213.55
|
215.9
|
2.35
|
1.3
|
vuggy Big Blow 1?
quartz vein stockwork with Fe-oxides
|
incl
|
|
|
213.97
|
214.3
|
0.33
|
6.61
|
2.35 m interval
includes 0.7 m of no recovery, assigned 0 ppm Au
|
LN19007
|
54
|
-43.8
|
24.9
|
25.63
|
0.73
|
assays
pending
|
stockwork of vuggy
CDZ extensional quartz-Fe carbonate veins
|
All widths are core
widths. True width is not known at this time.
|
All assay values are
uncut.
|
Background
The geological setting of the Launi East Project has many
similarities to prolific gold-rich orogenic gold belts globally,
including the Timmins camp of the
Abitibi province of Northern
Ontario. 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. Aurion has land holdings covering approximately 80 km
of the regional Sirkka Shear Zone within the Central Lapland
Greenstone Belt. Launi East shares many hallmark characteristics of
these belts including the presence of the Sirkka Shear Zone which
bisects the property; however, it lacks the history of systematic
gold exploration. Aurion is the first company to place an
exploration permit on this property."
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 and Rosia
Montana, Romania. 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.
This news release has been reviewed and approved by Andrew Hussey, P.Geo., GIS Geologist and
Database Manager for Aurion Resources, a Qualified Person as
defined by National Instrument 43-101. For more information on
these projects please visit our website at
www.aurionresources.com.
Forward-Looking Statement
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,
David Lotan, Chairman
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.