Mr. Ivan Bebek reports
AURYN TRENCHES 99 METERS OF 0.46% COPPER EQUIVALENT AND SAMPLES UP TO 193G/T GOLD IN HIGH-GRADE STRUCTURES AT SOMBRERO
Auryn Resources Inc. has released encouraging new surface results from the Sombrero gold-copper project in southern Peru. Highlights from these results include trenches with 99 metres of 0.46 per cent copper equivalent and 105 m of 0.3 per cent copper equivalent, where mineralization remains open, and several high-grade gold structures, which sampled up to 193 grams per tonne gold.
A message from Auryn's executive chairman and director
Ivan Bebek stated: "These are the type of results we anticipated from our Sombrero project and we have only just scratched the surface. These initial results confirm the potential scale and strength of the mineralized system at Sombrero.
"Between our plans for drilling this summer at Committee Bay in Nunavut and our work at Sombrero, it is going to be an exciting year for Auryn shareholders. We are expecting surface results out of Peru throughout the year and we are aiming to commence our first Sombrero drill program in Q4."
Trench results
Broad zones of oxide copper and gold mineralization (endoskarn) have been encountered within a diorite-monzondiorite intrusive complex. This is peripheral to the main exoskarn target areas between the intrusive body and the Ferrobamba limestone sequence. The exoskarn target area is interpreted to be between 500 and 1,000 m from the mineralized trenches.Importantly, the endoskarn mineralization has been encountered over an approximate width of one kilometre, demonstrating the potential size of the mineralized system at Sombrero.
Trench highlights are presented below in the table.It is important to note that the mineralization remains open in trench 18SRT-09 to the east and in trench 18SRT-08 to the south. Auryn is currently conducting induced polarization (IP) and magnetic geophysical surveys to identify buried sulphide bodies along the contact between the intrusives and limestones.
SOMBRERO TRENCH 2018 -- COPPER AND GOLD SIGNIFICANT INTERCEPTSTrench From (m)To (m)Interval (m) Cu (%)Au (g/t)CuEq (%)18SRT-04* 7984 5 0.010.280.1718SRT-05*117 122 5 0.010.500.29 132 137 5 0.021.470.8618SRT-06* 6166 5 0.030.990.608388 5 0.020.330.219398 5 0.031.390.8318SRT-07** 176 181 5 0.100.080.15 197 21013 0.110.010.12*259 267 8 0.010.370.23** 306 31610 0.130.020.1418SRT-08**137360 0.220.120.29 135 23499 0.400.100.4618SRT-09**14 119 105 0.230.13 0.3 124 133 9 0.200.210.32 173 180 7 0.180.250.32 186 191 5 0.130.030.15 305 312 7 0.130.540.44* No less than five m of greater than or equal to 0.1 g/t Au, maximum dilution of five m.** No less than five m of greater than or equal to 0.1 per cent Cu, maximum dilution of five m.Metal prices used for equivalent calculations: Au: $1,300/ounce and Cu: $3.28/pound, no adjustments for metallurgical recoveries have been made.
Rock sampling
High-grade gold mineralization has been encountered in several discrete structures approximately one to three m in width across a 400-metre-by-1.5-kilometre-long corridor. These samples were taken within the same endoskarn intrusive body as the company's trenches with assays up to 193 g/t gold. The structures sampled extend up to 1.5 km north of the mineralized trenches and demonstrate a strong component of gold mineralization within the larger mineralized skarn complex.In addition, isolated gold-bearing jasperoid veins were sampled within the Ferrobamba limestone and returned assays up to 7.75 g/t gold. This indicates the potential for an exoskarn body at depth along the contact zone with the intrusive complex. A summary of 2018 rock samples are presented in the table.
SOMBRERO ROCK 2018 HIGHLIGHTS Sample IDAu (g/t)Cu (ppm)W645062193 1,060W64506415.05 865W64506511.05 205W645014 7.75 1,010W645026 4.79 1,240W6450253.8 1,410W645056 3.09 720W645023 2.27 557W645024 1.78 1,180W645020 1.38 168.5W6450630.882 229W645013 0.81 464W645051 0.75 8,350W6450290.608 1,460
A message from Auryn's chief operating officer and chief geologist
Michael Henrichsen stated: "These trenches are peripheral to our main target of exoskarn bodies at the contact between the intrusive and Ferrobamba limestone sequence. The broad zones of oxide copper-gold mineralization encountered in the intrusive endoskarn complex are highly encouraging as they demonstrate a bulk-tonnage style of mineralized intervals.
"Our technical team is very impressed with the mineral endowment in the southern half of the project and is looking forward to completing targeting work as we advance towards the drill stage."
Michael Henrichsen, PGeo, COO of Auryn, is the qualified person who assumes responsibility for the technical disclosures in this press release.
About Auryn Resources Inc.
Auryn Resources is a technically driven junior mining exploration company focused on delivering shareholder value through project acquisition and development. The company's management team is highly experienced with an impressive record of success and has assembled an extensive technical team as well as a premier gold exploration portfolio. Auryn is focused on scalable high-grade gold deposits in established mining jurisdictions, which include the Committee Bay and Gibson MacQuoid gold projects located in Nunavut, the Homestake Ridge gold project in British Columbia, and a portfolio of gold projects in southern Peru, through Corisur Peru SAC.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.