Mr. Ivan Bebek reports
AURYN TRENCHES 30 METRES OF 1.93% CU EQUIVALENT AT SOMBRERO
Auryn Resources Inc. has provided results from additional trenching work at its Sombrero copper-gold skarn project in southern Peru. In particular, trench 18 includes 30 metres of 1.93 per cent copper equivalent, 24 metres of 0.73 per cent CuEq and 54 metres of 0.34 per cent CuEq (see attached table).
A message from Ivan Bebek, executive chairman and director: "These are the highest-grade trenches we have seen to date from Sombrero, a project that continues to have impressive surface mineralization peripheral to a large-scale 3.5-kilometre-long target.
"We are very excited to put the first drill holes into Sombrero, which we are anticipating in Q1 of next year, pending permitting. As for the two projects we drilled this summer, Committee Bay and Homestake Ridge, we are looking forward to results in the coming weeks."
SOMBRERO TRENCH 2018 -- COPPER AND GOLD SIGNIFICANT INTERCEPTS*TrenchFrom (m)To (m)Interval (m) Cu (%)Au (g/t)CuEq (%) AuEq (g/t)18SRT-17 6268 6 0.100.910.63 1.08136 142 6 0.190.040.21 0.37162 17816 0.140.050.16 0.2918SRT-18 143016 0.470.100.53 0.92 497930 1.860.121.93 3.34 79 104 not sampledbedrock not encountered104 15854 0.320.040.34 0.60182 20624 0.660.110.73 1.26230 24414 0.140.020.15 0.27* No less than five metres of greater than or equal to 0.1 g/t Cu, maximum dilution of five m.Metal price used for Eq calculations: Au $1,300/ounce and Cu $3.28/pound, no adjustments for metallurgical recoveries have been made. Auryn believes these trenches represent true widths of the mineralized system.
These results conclude Auryn's successful trenching program on the southern half of the project and identified a 1.3-kilometre-long zone of copper-gold mineralization hosted within endoskarn intrusive bodies.The encountered mineralization is peripheral to the target area, which is defined by the contact zone between the intrusives and the Ferrobamba limestone. This area is characterized by a 3.5-kilometre-long chargeability anomaly. Trench 18 is approximately 100 metres from trench 08 (99 metres of 0.46 per cent CuEq) and 1.2 kilometres from trench 09 (105 metres of 0.3 per cent CuEq) (see press release from June 19, 2018).
Importantly, the encountered mineralized intervals in trench 18 are separated by an interval where the trench was unable to reach bedrock (see attached table).If the company composites the intervals of copper-gold mineralization together with the area where no bedrock was encountered, using values of zero for both the copper and gold grades in the unsampled part of the trench, trench 18 has a result of 109 metres at 0.7 per cent CuEq.
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.
About Sombrero
This project consists of the North Sombrero and South Sombrero properties, comprising approximately 100,000 mineral claims owned or optioned by Auryn Resources. The copper-gold Sombrero mining concessions are located 340 kilometres southeast of Lima in southern Peru and are hosted in the Andahuaylas-Yauri belt. This belt is interpreted to be on the northwestern margins of this Eocene-Oligocene aged copper-gold porphyry and skarn belt that hosts the Las Bambas, Haquira, Los Chancas, Cotambambas, Constancia, Antapaccay and Tintaya deposits. The project is characterized by a strong structural control and significant copper and gold values from historical surface samples. The principal targets at Sombrero are copper-gold skarn and porphyry systems and precious metal epithermal deposits.
Trenches 2018 (Sombrero, Peru)
Analytical samples were taken from each two-metre interval of trench floor resulting in approximately two to three kilograms 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 30-gram nominal weight fire assay with atomic absorption finish (Au-AA25) and multielement four-acid digest ICP-AES/ICP-MS method (ME-MS61). Where MS61 results were greater or near 10,000 parts per million Cu, Zn or Pb, the assay was repeated with ore-grade four-acid digest method (OG62). Quality assurance/quality control programs for 2018 trench grab samples using 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-per-cent Cu cut-off at beginning and end of the interval and allowing for no more than five consecutive metres of less than 0.1 per cent Cu with a minimum length of the resulting composite of five m.
Copper and gold equivalent grades (CuEq and AuEq) were calculated using gold price of $1,300/oz and copper price of $3.28/lb.
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