Director / Management Changes and Corporate Update
VANCOUVER, B.C., April 10, 2018 (GLOBE NEWSWIRE) -- Auramex Resource Corp. (TSXV:AUX) announces the following changes to the Board and Management:
Effective April 6, Judie Whitby, B.Com, CMA, CPA announced her resignation as CFO, Corporate Secretary and Director. This change marks Judie’s retirement after having served the company as CFO since 2002. The company thanks Judie for her outstanding and dedicated service to the company and wishes her the very best in her well-earned retirement.
Wylie Hui, CPA, CA, has been appointed CFO and Corporate Secretary. Wylie is Founder & Principal of Altastra Office Systems Inc. and has over 20 years of professional experience in financial management. Before moving into the mining industry, Wylie was a Senior Manager of Ernst & Young LLP in San Francisco, advising private equity and corporate clients, and he was in the Risk Advisory practice in Vancouver, performing a broad range of services for mining and telecommunication companies. Before founding Altastra, he was CFO of Tintina Resources Inc., which was developing a 1.3 billion pound copper project, until that company was taken over by an Australian copper producer.
Wayne Crocker, P.Eng., MBA, CFA, Chairman of the Board, announces his retirement from the Company. Wayne joined the Company in 2009 as President, CEO and Director. In December 2017 Lawrence Roulston became a director of Auramex then became President and CEO, as part of a planned transition to new management. Bill Raney will also be resigning as a director. The company thanks Wayne and Bill for their service to the company.
Two new directors have been appointed:
Marie Brannstrom, B.Sc. (Hons. Earth Science), will be rejoining the Company as a director. Marie began her fifteen year career in mineral exploration in the Snippaker Creek – Iskut River area of the Golden Triangle. Since then, Marie’s experience has consisted almost exclusively of exploration for intrusion-related mineral deposits, including: Donlin-style porphyry gold in Alaska, Zeballos-type gold veins on Vancouver Island, iron oxide copper gold and porphyry mineralization in northern Mexico and Texas Creek plutonic suite in the Golden Triangle.
Dr. Paul Metcalfe, P.Geo., will join the Auramex board, and rejoin the Company as VP, Exploration, a position he held prior to resigning in 2017. Paul is a highly regarded geologist whose 40-year career integrates experience with major, mid-tier and junior mineral exploration companies, the Geological Survey of Canada, B.C. Geological Survey Branch and U.B.C.’s Mineral Deposit Research Unit. He has worked extensively on intrusion-related gold systems and his experience in the Golden Triangle spans three decades of regional to deposit-scale geology in the Iskut River, Eskay Creek and Stewart camps. His intimate knowledge of the regional geology enabled him to identify the transpressive/transtensional environment of Texas Creek-related gold mineralization at Georgie River as a regional phenomenon, with significant potential for future exploration in the area. Paul’s broad experience, talent for synthesis and industry connections make him a valuable addition to the Board and Management of Auramex.
Corporate Update
Lawrence Roulston, CEO, stated: “We are extremely pleased to have attracted such exceptional talent to the company. Auramex now has a clean balance sheet, cash and with the new team, we will be moving aggressively to add shareholder value. Work is already well underway toward evaluating the company’s extensive property holdings in BC’s Golden Triangle, a prospective very favourable mineralized region.”
The properties were accumulated over the past decade, largely under the direction of the late Dr. Rod Kirkham who introduced Paul to the project. Paul, a highly regarded expert in the geology of the region has augmented Dr. Kirkham’s work. Over the coming weeks, the non-core properties will be evaluated with the intent of securing further joint venture partners to help fund further work on those properties.
The focus for Auramex will be the Georgie River project, located on tidewater, 18 kilometres south of Stewart. A high-grade underground mine operated on the property in the 1930s, with 1,200 metres of development on 3 levels. Decade Resources Ltd. can earn a 75% interest in 161 hectares covering the old mine, representing 2% of the Georgie River property held by the company.
The primary target for Auramex is the Hume Creek Mylonite Zone, a 500m thick zone containing intensely deformed gold-bearing Texas Creek plutonic suite rocks. The high-grade gold present in the mine is believed to be directly related to that Texas Creek intrusion. The zone of deformation is coincident with a large 1km2 electromagnetic anomaly and represents a greatly underexplored target for intrusion hosted gold and copper mineralization.
Auramex is also evaluating other opportunities in the region.
About Auramex
Auramex holds 190 square kilometers of mineral rights in BC’s Golden Triangle. The Georgia River property surrounds a past producing gold mine near tidewater, 18 km south of Stewart; the Tide North property is 4 km from an all-weather road; and the Bear Valley properties straddle highway 37A north and east of Stewart.
For information on Auramex please contact Lawrence Roulston at (604) 924-9376 or (604) 398-8829 or refer to the company’s website: www.auramex.com.
The technical disclosure in this release has been read and approved by Paul Metcalfe, PhD, P.Geo a qualified person as defined in NI 43‑101.
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.