Aurion Intersects 13.3 g/t Au over 19.5 m in new zone at Aamurusko Northwest

TSX-V: AU

ST. JOHN'S, June 26, 2019 /CNW/ - Aurion Resources Ltd. (TSXV: AU) ("Aurion" or the "Company") is pleased to report it has intersected a wide zone of gold mineralization in the first two drillholes of its recently initiated 2019 drilling  campaign at the Aamurusko Northwest (NW) prospect on its wholly owned Risti Project in northern Finland.  The first two of ten proposed drillholes testing high-grade gold mineralization at surface at Aamurusko NW are reported herein.

Highlights

• 13.31 g/t Au over 19.54 m intersected in drillhole AM19095 – incl 22.58 g/t Au over 8.18 m
• 1.84 g/t Au over 31.12 m intersected in drillhole AM19094 (partial assays received)
• Drillhole AM19094 ended in mineralization – currently being extended
• See table of assays below and click the link to see maps and section, https://aurionresources.com/news/2019/aurion-intersects-13.3-g-t-au-over-19.5-m-in-new-zone-at-aamurusko-northwest/.

Drillhole AM19095 intersected a wide zone of alteration and quartz veining assaying 9.42 g/t Au over 28.22 m, including 13.31 g/t Au over 19.54 m and 22.58 g/t Au over 8.18 m starting at 69.86 m downhole and approximately 70 m vertically below surface.  The zone had five intervals assaying between 48.40 and 230.00 g/t Au.  This drillhole is being deepened.

Drillhole AM19094 updip of 95 intersected a wide zone of alteration and quartz veining assaying 1.84 g/t Au over 31.12 m, including >100 g/t Au (re-assay pending) over 0.33 m and 12.25 g/t Au over 0.65 m, starting at 55.88 m downhole and approximately 45 m vertically below surface.  The hole ended in mineralization with three one metre wide samples assaying 1.57, 3.21 and 4.31 g/t Au   This drillhole is being deepened. 

The company attempted to drill this area with a track-mounted rig in 2018.  Gold was intersected in every hole however extreme topography prevented collaring close to surface mineralization.  Two drillholes, AM18024 and 29, on the same section as AM19094 and 95, also encountered wide but weak zones of mineralization at depth. Use of a helicopter-supported rig in the current program has enabled the company to drill closer to the surface mineralization. 

The estimated true thickness of the zone is 70% of core length and appears to be near vertical, trends NE-SW and may have a plunge.  The zone continues to a depth of at least 150 m vertically and is open.

Eight drillholes on 4 sections 20 m apart are designed to determine the geometry of this mineralized zone.

Summary

Aamurusko NW is located approximately 600 m northwest of the Aamurusko Main target area where several high-grade intercepts were previously reported, including 789.10 g/t Au over 2.9 m, 42.40 g/t Au over 4.0 m and 24.50 g/t Au over 4.75 m.

To date, seventy of eighty-four (83%) drillholes completed at Aamurusko (Main and NW) have intersected gold mineralization.   Nineteen have intercepts of 15 g/t Au or higher.  Gold mineralization has been intersected in multiple rock types to a depth of 180 m below surface.  Mineralization remains open at Aamurusko and Aamurusko NW and the 600 m distance between has been virtually untested.

High grade gold mineralization, greater than 10 g/t Au, intersected at shallow depths (40 m vertically from surface) at both the Aamurusko Main and NW targets expands the potential.  The Aamurusko boulder field, comprising 1,210 angular boulders that assayed an average of 25 g/t Au (previously disclosed), is > 1.3 km wide.  This indicates there are possibly multiple sources to the many high-grade boulders at Aamurusko.  

Comments

"A review of all structural data, surface mapping, downhole televiewer information and interpretation of ground magnetic geophysics, completed after winter drilling, has improved drill targeting.  Results to date suggest potential for additional zones of gold mineralization along strike between Aamurusko NW and Aamurusko Main.", commented Mike Basha, President and CEO.  "Intersecting high-grade, bonanza grade mineralization enveloped within wide zones of weakly mineralized but highly anomalous gold bearing bedrock is encouraging!" 

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 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 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.  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 overlimit 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.

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.

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.

On behalf of the Board of Directors,

Michael Basha, Chief Executive Officer

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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