Aamurusko Northwest Drilling Extends Gold Mineralization to 300 m Depth; Step-Out Drilling Intersects Multiple Potential New Gold Zones

TSX-V: AU

ST. JOHN'S, April 22, 2020 /CNW/ - Aurion Resources Ltd. (TSX VENTURE: AU) ("Aurion" or the "Company") is pleased to report it has received assays from 16 drill holes completed at the Aamurusko prospect on its wholly owned Risti Project in northern Finland. These holes tested multiple targets including depth extensions in the Northwest (NW) zone and immediately to the southeast in the 600 m gap between the NW Zone and the Main Zone. Drilling intersected multiple high-grade intercepts that appear to identify new zones of mineralization to the southeast and north of NW, expanding the mineralized footprint at Aamurusko, as well as extending mineralization at NW to 300 metres (m) depth.

Highlights:

• Aamurusko Northwest Depth Extension – Drill hole AM20127 intersected multiple gold intervals, including 5.79 g/t Au over 2.95 m and 2.58 g/t Au over 1.70 m within a wider zone averaging 1.21 g/t Au over 24.75 m from 358.25 m and 2.39 g/t Au over 3.70 m from 288.00 m.  This appears to extend known mineralization at the NW zone to 300 m vertically below surface and 60 m down-plunge to the north where it remains open.
• The 600 m Gap between Aamurusko NW and Main Zones – Four drillholes spaced 50 to 300 m southeast of Aamurusko NW all intersected new shallow zones of gold mineralization. They appear to be locally associated with a widespread quartz stockwork outcropping at surface and/or steep fault structures.
• Drill hole AM19117, intersected 37.30 g/t Au over 0.35 m within a wider zone of 4.64 g/t Au over 3.10 m from 19.25 m and 1.55 g/t Au over 3.45 m including 9.21 g/t Au over 0.35 m.
• Drill hole AM19118 intersected 0.55 g/t Au over 8.65 m from 63.25 m.
• Drill hole AM19119 intersected 18.40 g/t Au over 0.55 m from 100.95 m within a wider zone of 1.69 g/t Au over 7.75 m from 96.05 m and 3.16 g/t Au over 1.15 m from 61.00 m.
• Drill hole AM20128 intersected 1.51 g/t Au over 3.35 m from 35.85 m.
• Approximately 200 m north of Aamurusko NW – Drill hole AM20127 intersected shallow gold mineralization below a north-south trending quartz boulder train including 1.51 g/t Au over 2.00 m from 57.00 m and 1.02 g/t Au over 3.60 m from 126.80 m.
• Mineralization remains open in multiple directions at all targets
• Exploration activities are on-going with one rig turning at our wholly owned Launi East Property located approximately 10 kilometres southeast of Aamurusko.
• Aurion is fully funded for 2020
• See table of assays below and click the link to see maps and sections:
• https://aurionresources.com/site/assets/files/1347/nr20-04figures.pdf

Comments

"Our contention has been that the previously untested, 600 m gap between the Aamurusko NW and Main Zones could host additional zones of mineralization. The results presented herein of multiple intersections of both high-grade veins and broader zones of lower grade stockwork or disseminated mineralization suggest confirmation. The drilling also intersected gold 200 m north of Aamurusko NW beneath an interpreted structure with extensive quartz veining. Furthermore, the drilling has demonstrated mineralization occurs at depth" says Mike Basha, Aurion's President. "The potential scale of mineralization at Aamurusko has been impactfully increased by these results."

Discussion

Aamurusko Northwest Depth Extension – Drill hole AM20127 designed to test for down-dip/down-plunge extensions of wide (10-30 m) zones of mineralization previously intersected in the Aamurusko Northwest Zone (drill holes AM19094, 95, 106, 109 etc.) intersected multiple gold intervals.  These include 5.79 g/t Au over 2.95 m, 2.58 g/t Au over 1.70 m, 8.90 g/t Au over 1.00 m, 5.34 g/t Au over 1.00 m and 4.33 g/t Au over 0.65 m within a wider zone averaging 1.21 g/t Au over 24.75 m from 358.25 m and 2.39 g/t Au over 3.70 m from 288.00 m.  Similar to previous wide intercepts, the intercept in 127 includes higher grade vein zones with interspersed anomalous values (>0.10 – 0.90 g/t Au) and now appears to extend known mineralization at the NW zone to 300 m vertically below surface and 60 m down-plunge to the north where it remains open. 

Drill holes AM19124 and AM20125 drilled approximately 100 m southwest of and parallel to hole 127 also encountered gold mineralization at depths of approximately 225 to 275 m vertically below surface.

Drill hole 124 had a best intercept of 1.33 g/t Au over 1.60 m from 229.75 m.

Drill hole 125 intersected several intervals of gold mineralization from 278.85 to 292.60 m. The best intercepts include 1.11 g/t Au over 2.98 m from 278.85 m including 4.97 g/t Au over 0.40 m

The 600 m Gap between Aamurusko NW and Main Zones – Four drillholes spaced 50 to 300 m southeast of Aamurusko NW all intersected new shallow zones of gold mineralization. Drill hole AM19117, intersected multiple zones of mineralization including 4.64 g/t Au over 3.10 m, including 37.30 g/t Au over 0.35 m from 19.25 m and 1.55 g/t Au over 3.45 m including 9.21 g/t Au over 0.35 m from 59.70 m. The upper zone tested an interpreted NNE-SSW trending structure with numerous metre-scale fault-fill type vein boulders. The hole terminated in weak mineralization where the final 5.35 m assayed an average 0.28 g/t Au from 279.65 m. 

Drill hole AM19118 intersected 0.55 g/t Au over 8.65 m from 63.25 m. This zone comprised weak quartz veining and disseminated sulfides.

Drill hole AM19119 also intersected multiple zones including 18.40 g/t Au over 0.55 m from 100.95 m within a wider zone of 1.69 g/t Au over 7.75 m from 96.05 m and 3.16 g/t Au over 1.15 m from 61.00 m.

Both drill holes AM19118 and 119 tested a mapped NNE-SSW structure and numerous quartz boulders assaying up to 30.40 g/t Au.

Drill hole AM19128 intersected 1.51 g/t Au over 3.35 m from 35.85 m.

All the above drill holes were drilled under a widespread quartz stockwork outcropping at surface and/or steep fault structures. The mapped stockwork system has 300 m by 100 m dimensions.

Approximately 200 m north of Aamurusko NW – The upper portion of drill hole AM20127 intersected shallow gold mineralization below a >300 m long, quartz boulder train (best surface sample 0.36 g/t Au) associated with an interpreted NNE-SSW trending fault. The best intercepts include 1.51 g/t Au over 2.00 m from 57.00 m and 1.02 g/t Au over 3.60 m from 126.80 m. This is the first drill test of this structure.

Aamurusko Main Zone – Six drill holes at Aamurusko Main Zone are reported herein. Drill holes AM19115 and 116 were drilled north of Aamurusko. Drill hole 115 had multiple intercepts > 0.5 g/t Au up to a high of 0.82 g/t Au and a best intercept of 0.50 g/t Au over 3.00 m from 60.30 m. Drill hole 116 had a best intercept of 0.14 g/t Au over 5.25 m from 120.00 m.

Drill holes AM19120 to 123 were drilled approximately 200-250 m east of Aamurusko testing for extensions of mineralization encountered in drill hole AM18035 (9.62 g/t Au over 1.74 m, 8.74 g/t Au over 1.55 m, and 12.45 g/t Au over 5.20 m).  All drill holes intersected gold mineralization. Drill hole 120 intersected 1.92 g/t Au over 0.70 m from 71.30 m but had to be terminated prior to reaching the targeted depth.

Drill hole 123 intersected 2.19 g/t Au over 1.15 m from 45.65 m in a quartz vein with pyrite, galena, chalcopyrite and sphalerite at the contact between sediments and basalt and aligns with the lower zone in AM18035. Sheared basalt with quartz stringers and local pyrite returned 2.92 g/t Au over 1.05 m from 81.00 m.

Summary

Many of the new intercepts reported herein are below areas of weak, barren, or non-existent mineralization at surface suggesting potential for concealed mineralization that does not come to surface. Gold mineralization identified in drilling to date appears to be widespread, locally continue to depths greater than 300 m vertically below surface and appears to be open in all directions. With the discovery of new zones in the 600 m wide gap between the Aamurusko NW and Main Zones there appears to be good potential for more zones of mineralization at Aamurusko.

Aurion's exploration program is fully funded through 2020.

Background

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 geological province of Northern Ontario. The Aamurusko zone appears to be underlain by young unconformable clastic rocks (meta-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-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 Central Lapland Greenstone Belt. Strong alteration including fuchsite, tourmaline, iron carbonate, albite and quartz veining is observed along the entire length of this structure.

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 prepared by Mike Basha, P.Eng., PGeo., President and Andrew Hussey, P.Geo., GIS Geologist and Database Manager for Aurion Resources, Qualified Persons 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,
Mike Basha, President

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.

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