High-resolution Till-sampling Results in Refined Drill Targets for 2018 at Committee Bay
June 14 2018 - 7:00AM
Auryn Resources Inc. (TSX:AUG) (NYSE American:AUG)
(“Auryn” or the “Company) is pleased to announce
that high-resolution till sampling has become an integral layer of
data for six targets at Committee Bay, Nunavut. These targets
include the already disclosed Aiviq sampling, which was drilled in
2017.
The gold assay results from the high-resolution
(100 meter by 100 meter spacing) till surveys across nine regional
targets (Figure 1) demonstrate greater precision for identifying
the potential source areas of high-grade gold mineralization seen
throughout the belt. The results of the surveys have delineated
gold-in-till anomalies that are consistent with the size of
potential deposit footprints and will form the basis of future
drill campaigns at Committee Bay.
A Message from Auryn’s Executive
Chair:
Executive Chairman and Director Ivan Bebek
stated, “These results significantly improve our level of
understanding of the 300km long Committee Bay gold project and
better positions us for potential discovery. The tighter-spaced
till sampling has demonstrated just how close we were to the
potential sources of gold during the 2017 drill campaign.”
Mr. Bebek further stated, “We are looking
forward to confirming our theory in our 2018 drill program, which
we are currently planning.”
The Use of High-Resolution Tills to
Redefine Targets:
Originally, the high-resolution tills were
collected during the 2017 summer exploration program to be analyzed
using portable X-Ray fluorescence technology. After receiving the
results from the Aiviq discovery drill hole (12.2 meters at 4.7g/t
Au), Auryn sent the high-resolution tills to ALS laboratories for
ICP to analyze for gold. The gold results demonstrated that
the high-grade discovery drill hole spatially overlapped with the
gold results from the high-resolution tills. In addition, these
results also redefined targets that had not been adequately drilled
in 2017 (Figure 2).
Five of the nine regional targets have returned
discrete new gold targets from the high-resolution tills.
These include the Koffy, Kalulik, Aarluk, Kanosak, and Castle Rock
target areas (Figures 3 – 7).
A Message from Auryn’s Chief
Geologist:
Michael Henrichsen, COO and Chief Geologist
stated, “Auryn’s technical team considers the high-resolution till
data as a critical step in our exploration process to delineate
source areas of gold mineralization under till cover.
Ultimately, we feel the drill results from the 2017 summer campaign
did not explain the strength of a number of the till anomalies
associated with high-grade gold in boulders. We feel the new
high-resolution gold-in-till results will lead us to the bedrock
sources of mineralization.”
Michael Henrichsen, P.Geo, COO of Auryn, is the
Qualified Person who assumes responsibility for the technical
disclosures in this press release.
ON BEHALF OF THE BOARD OF DIRECTORS OF AURYN RESOURCES INC.
Ivan Bebek Executive Chairman
For further information on Auryn Resources Inc., please contact
Natasha Frakes, Manager of Corporate Communications 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 and
additional cautionary language
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.
2017 pXRF tills Au assay -
Samples (250g) of unweathered till were collected from 20-30cm
depth in frost boils at 100m sample spacing. Pebbles (>1cm) were
removed in the field. Samples were not collected in areas of
glaciofluvial or fluvial reworking. Collected samples were sent to
ALS Laboratories in Vancouver BC for preparation and analysis. All
samples are screened using 600µm screen and analyzed using 50g
nominal weight trace level Au by aqua regia extraction and ICP-MS
finish method (Au-TL44) on a -600µm fraction. QA/QC programs using
internal standard samples, field and lab duplicates, re-assays, and
blanks indicate good overall accuracy and precision.
DisclaimerThe Toronto Stock
Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
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