Auramex Resource Corp.: Exploration Update
VANCOUVER, British Columbia, Nov. 01, 2018 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (the “Company” or “Auramex”) (TSX.V: AUX) announces that its geological team is now compiling and interpreting preliminary results from an extremely successful field season. Geological mapping, prospecting and sampling was conducted across the Company’s extensive (200 square km) land holdings in the Stewart Camp of British Columbia’s Golden Triangle. The Auramex properties extend from south of Stewart, 40 km up the Bear Valley to Bear Pass.
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The program was conducted in conjunction with Mountain Boy Minerals Minerals Ltd (MTB-TSXV) under a cooperative exploration agreement by which the companies pooled their extensive geological data bases and explored their adjacent properties in a coordinated manner. Auramex was operator of the program, which was directed by Dr. Paul Metcalfe, director and vice president of exploration, who has 30 years of experience in the Golden Triangle. Other members of the six-person geological team also have extensive experience in the region.
Pooling of historic data and working across property lines provided the geological team the first-ever comprehensive view of the geological settings that produced the numerous gold-silver occurrences in the region. Results of the recent field work, together with the extensive data base of previous results, are being interpreted with leading-edge scientific approaches, leading to refined interpretations of the geological systems. The team is now beginning to outline broad and robust mineralizing systems capable of generating large deposits.
Over the coming weeks, the geological team will receive analytical results from more than 500 samples. Those results and the other results of the summer program, will be integrated into a comprehensive data set. Further geophysical surveys are planned to complete coverage of the area. The work over the next few months is expected to generate multiple exploration targets in advance of next summer’s program.
Auramex will be seeking joint venture partners on some of the target areas to provide funding for the work next season.
About Auramex
Auramex is exploring a large and highly prospective property portfolio in the Stewart Camp, at the southern end of the Golden Triangle in British Columbia. Auramex has 200 square km of mineral rights, located on or near roads within 45 km of the deep-water port of Stewart.
The Golden Triangle is beginning to be recognized as one of the most highly mineralized geological settings with excellent exploration potential for future discoveries. The Golden Triangle region has matured dramatically over the past few years, with two mines now in production, road access greatly improved, and a quantum leap in terms of geological understanding of the processes that created some of the largest, and highest-grade metal deposits on the planet.
On behalf of the Board of Directors:
Lawrence Roulston
President & CEO
(604) 914-2142
For further information, contact:
Nancy Curry
VP Corporate Development
(604) 220-2971
www.auramex.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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/94c5209a-f1d8-47d4-99a3-52f91f390230
