Auryn Identifies 8 High Priority Gold-in-Till Anomalies across the Gibson MacQuoid Greenstone Belt
December 14 2017 - 6:00AM
Auryn Resources Inc. (TSX:AUG) (NYSE American:AUG) (“Auryn” or the
“Company) is very pleased to announce results from its initial
regional till sampling program at the Gibson MacQuoid Gold Project
located 70km northwest of Agnico-Eagle’s Meliadine project in
Nunavut, Canada (figure 1).
Highlights include:
- 8 significant till anomalies defined by the top 5% of
gold-in-till results (figure 2)
- Strongest till anomalies occur on the major flexure of the
greenstone belt
- 90km southeast of Baker Lake infrastructure
The 8 high priority anomalies were identified
across the 50% of belt that the company had access to in 2017.
The 3 strongest till anomalies are located on the eastern
region of the project and are situated along the major flexure of
the greenstone belt. Auryn’s technical team considers the major
flexure of the magnetic stratigraphy to be in a highly favorable
structural setting for potential gold mineralization. In the
western region of the belt, 2 high priority gold-in-till anomalies
have been identified both within magnetic and non-magnetic
stratigraphy.
The Gibson MacQuoid project is located
approximately 90 km southeast of Baker Lake providing excellent
access to infrastructure and has an exploration season 6 months of
the year. Based on the experience attained at the Committee
Bay project over the past three years, Auryn’s technical group has
refined its till sampling approach and is very encouraged by the 8
gold-in-till anomalies discovered on the project to date (figure
2).
In total, 2,550 till samples were collected as
well as high-resolution drone imagery over the geochemical survey
area to aid in identifying the target source areas. Auryn’s 2018
summer program will consist of completing surface programs of
infill till sampling, boulder mapping and ground magnetics across
the gold-in-till anomalies to identify potential source areas of
mineralization. The areas will be advanced to a drill ready stage
in 2018.
Auryn COO and Chief Geologist, Michael
Henrichsen commented, “The location of the till anomalies along the
major flexure of the greenstone belt represents a favorable
structural setting analogous to the Musselwhite Mine in northern
Ontario.”
Mr. Henrichsen further stated, “We are very
excited to advance the Gibson MacQuoid belt as this represents an
excellent opportunity for a major arctic discovery due to its scale
and location nearby one of the largest mines being built in the
Arctic, Meliadine.”
Michael Henrichsen (Chief Operating Officer),
P.Geo is the QP who assumes responsibility for the technical
contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN
RESOURCES INC.
Shawn Wallace President and CEO
For further information on Auryn Resources Inc.,
please contact Jay Adelaar, Vice-President of Investor Relations at
(778) 729-0600 or info@aurynresources.com
About Auryn
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 track
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.
Forward Looking Information
This release includes certain statements that
may be deemed “forward-looking statements”. Forward-looking
information is information that includes implied future performance
and/or forecast information including information relating to, or
associated with the acquisition and title to mineral concessions.
These statements involve known and unknown risks, uncertainties and
other factors which may cause actual results, performance or
achievements of the Company to be materially different (either
positively or negatively) from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Readers should refer to the risks discussed in the
Company’s Annual Information Form and MD&A for the year ended
December 31, 2016 and subsequent continuous disclosure filings with
the Canadian Securities Administrators available
at www.sedar.com and the Company’s registration statement
on Form 40-F filed with the United States Securities and Exchange
Commission and available at www.sec.gov.
Cautionary Statements and Technical
Disclosures
Till samples were collected mostly from active
frost boils. Samples from 3 to 5 kg each sent to ALS Lab in
Yellowknife, NWT and Vancouver, BC for preparation and then to ALS
Lab in Vancouver, BC for analysis. All samples are analyzed using
Ultra-Trace Au by Cyanide Extraction and ICP-MS finish method
(Au-CN44) and multi-element aqua regia digest ICP-AES/ICP-MS method
(ME-MS41). QA/QC programs using internal standard samples, field
and lab duplicates, re-assays, and blanks indicate good accuracy
and precision in a large majority of standards assayed.
Photos accompanying this announcement are
available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/85ca3136-e151-43f8-9a3e-3b996e77a323
http://www.globenewswire.com/NewsRoom/AttachmentNg/be07c7e2-9038-4a53-8cb7-587ce71dc460