Mr. Ivan Bebek reports
AURYN INITIATES WORK AND EXPANDS LAND POSITION AT THE SOMBRERO GOLD AND COPPER PROJECT
Auryn Resources Inc. has completed a long-term access agreement with the Huancasancos community which covers approximately half of the 2016 Sombrero claims located in southern Peru. The agreement gives Auryn surface access where exploration programs are under way in anticipation of an initial drill campaign. The company has also expanded its land position by a total of 34,180 hectares through staking ground contiguous to the project area creating a 47,320-hectare district-scale land position.
2017 SOMBRERO ROCK SAMPLING HIGHLIGHTS -- GOLD RESULTSSampleAuAg Cu (ppm) (ppm)(%)Q921194 7.541.72 0.0227Q921196 7.090.89 0.0465Q921187 6.231.140.111Q919731 5.940.41 0.0174Q919732 5.630.55 0.0098Q921188 5.361.020.045Q921195 3.990.49 0.0777Q921031 3.281.560.149Q921191 3.16 0.60.188Q921189 2.640.42 0.0652Q919724 2.410.25 0.0074Q919722 2.060.14 0.0073Q921159 1.740.21 0.0301Q919723 1.330.07 0.0078Q9210011.3252.54 0.0116Q9210351.16511.70.012Q9215840.9311.730.164Q9197340.8960.22 0.0038Q9197480.8340.43 0.0212Q9211920.8130.46 0.0171Q9197420.7390.43 0.0471Q9197360.738 0.1 0.0051Q9197440.6930.480.033Q9215630.6884.61 0.0166Q9197210.6720.17 0.0028Q9197400.5850.23 0.0225Q921034 0.57 0.60.031Q9197460.5450.32 0.0276Q9210370.5136.93 0.0047Q9215210.4834.05 0.23Q9197350.4610.31 0.0133Q9211580.4570.06 0.0653Q9215970.44723.2 0.0692Q9197190.4450.110.003Q9196750.3938.18 16Q9197430.3820.75 0.0419Q9210290.381 12.35 0.0644Q9197170.3710.11 0.0049Q9197330.3620.07 0.0033Q9216000.3580.280.007
2017 SOMBRERO ROCK SAMPLING HIGHLIGHTS -- COPPER RESULTSSample AuAg Cu(ppm) (ppm)(%)Q919675 0.3938.18 16Q921576 0.0320.57 3.55Q921482 0.0171.55 2.36Q921589 0.0881.250.965Q919674 0.0250.280.666Q921591 0.0740.390.634Q921525 0.0871.490.627Q919673 0.1790.410.598Q921582 0.0120.130.561Q921483 0.0321.570.539Q919677 0.1670.99 0.52Q921162 0.0221.090.462Q921529 0.2283.44 0.43Q9215770.255.060.414Q921167 0.125 40.401Q921523 0.1031.990.383Q921478 0.0441.140.364Q921486 0.157 11.050.362Q919679 0.0721.320.339Q9211540.050.490.322Q921156 0.0561.140.318Q919678 0.1140.980.315Q921520 0.0440.950.295Q921476 0.134 60.292Q921489 0.1428.390.291Q921522 0.146 16.650.283Q921524 0.2822.910.273Q921484 0.0081.470.271Q921166 0.0110.570.251Q921488 0.0261.860.244Q919691 0.0680.710.237Q921521 0.4834.05 0.23Q919669 0.032 5.80.229Q921575 0.1680.410.226Q9196990.050.220.223Q921528 0.1961.210.212Q921565 0.0230.310.207Q921587 0.2410.590.206Q919680 0.0080.480.202Q919681 0.0860.980.196
Ivan Bebek, executive chairman, stated: "The Sombrero project represents a major discovery opportunity for Auryn shareholders because of the scale of the project, the high grades observed on surface and the prolific region in Peru where it is located. Although there has been impressive surface sampling by Auryn, the concessions have never been drilled and we are very excited to be commencing our upcoming exploration programs."
Sombrero overview
The Sombrero property is hosted in the Andahuaylas-Yauri belt and is interpreted to be on the northwestern margins of the Eocene-Oligocene-aged copper porphyry and skarn belt that hosts the Las Bambas, Haquira, Los Chancas, Cotabambas, Constancia, Antapaccay and Tintaya deposits.The principal targets at Sombrero are copper-gold skarn and porphyry systems and precious metal epithermal deposits.
Surface work and planned drilling
The surface work at Sombrero will consist of mapping, soil and rock sampling, trenching, and ground magnetics expected to be completed prior to an initial drill program.
The aim of the surface program is to expand upon the previously recognized surface mineralization and to delineate drill targets on the southern half of the project where the company has secured a long-term agreement with the Huancasancos community.Additional community agreements for the northern portion of the project are currently being negotiated.
Previous work by Auyrn in the southern half of the project yielded a large 2.3-kilometre-long gold-in-soils anomaly with several high-grade rock samples ranging up to 7.54 grams per tonne Au and several multiper cent copper samples ranging up to 16 per cent Cu. Auryn also previously trenched 53 metres of 1.75 grams per tonne Au, 37 metres of 1.07 g/t Au and 11 metres of 0.7 g/t Au. For full details of these results, see Auryn Resources' news release dated Feb. 24, 2017.
Expanded land position
The expansion of the land position is based on the results of a stream sediment survey.An initial one-day follow-up on one of the anomalous drainage basins immediately to the north of the Sombrero project identified a previously unrecognized intermediate sulphidation system characterized by a hydrothermal breccia zone covering an area of approximately 400 metres by 200 metres. A single rock sample was taken in this area yielding 0.49 g/t gold, 285 g/t silver and 1.39 per cent Cu. Auryn's technical team believes this initial follow-up demonstrates the effectiveness of the stream sediment technique in this region and that it could lead to new discoveries in and around Sombrero project.
Michael Henrichsen, PGeo, chief operating officer 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.
Soils 2016 (Sombrero, Peru)
Approximately two kilograms of soil material per sample were collected and sent to ALS Lab in Lima, Peru, for preparation and then to ALS Lab in Vancouver for analysis. All samples are analyzed for gold and multielement using 50-gram nominal weight trace level method by aqua regia digestion and ICP-MS finish (AuME-TL44). The quality assurance/quality control program for soil samples used internal standard and blank samples; field and lab duplicates indicate good overall accuracy and precision.
Grabs 2016 (Sombrero, Peru)
Approximately two kg of rock chips material per sample were collected for analysis and sent to ALS Lab in Lima, Peru, for preparation and analysis. All samples are assayed using 30 g nominal weight fire assay with ICP finish (Au-ICP21) and multielement aqua regia digest ICP-AES/ICP-MS method (ME-MS41). Where ICP21 results were over three g/t Au (11 samples in total) the assays were repeated with 50 g nominal weight fire assay with gravimetric finish (Au-GRA22). Where MS41 results were greater or near 10,000 parts per million Cu (four samples in total) the assay were repeated with ore grade Cu aqua regia digest method (Cu-OG46). QA/QC programs for 2016 rock grab samples used internal standard and blank samples; field and lab duplicates indicate good overall accuracy and precision.
Trenches 2016 (Sombrero, Peru)
Analytical samples were taken from each one-metre interval of trench floor resulting in approximately two to four kg of rock chips material per sample. Collected samples were sent to ALS Lab in Lima, Peru, for preparation and analysis. All samples are assayed using 50 g nominal weight fire assay with atomic absorption finish (Au-AA26) and multielement aqua regia digest ICP-AES/ICP-MS method (ME-MS41). QA/QC programs for 2016 trench grab samples used internal standard and blank samples; field and lab duplicates indicate good overall accuracy and precision.
Intervals were calculated using a minimum of a 0.1 g/t Au cut-off at beginning and end of the interval and allowing for no more than seven consecutive samples (seven metres) of less than 0.1 g/t Au.
We seek Safe Harbor.
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