Auryn Trenches 99 meters of 0.46% Copper Equivalent and Samples up to 193g/t Gold in High-Grade Structures at Sombrero
June 19 2018 - 7:00AM
Auryn Resources Inc. (TSX:AUG) (NYSE American:AUG)
(“Auryn” or the “Company) is pleased to announce
encouraging, new surface results from the Sombrero gold-copper
project in southern Peru. Highlights from these results include
trenches with
99 meters of 0.46% copper equivalent
and
105 meters of 0.3% copper equivalent, where
mineralization remains open, and several high-grade gold
structures, which sampled up to
193 g/t 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.”
Mr. Bebek further stated, “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 (endo-skarn) have been encountered within a
diorite-monzondiorite intrusive complex. This is peripheral to the
main exo-skarn target areas between the intrusive body and the
Ferrobamba limestone sequence (Figure 1). The exo-skarn
target area is interpreted to be between 500 – 1000 meters from the
mineralized trenches. Importantly, the endo-skarn
mineralization has been encountered over an approximate width of
one kilometer, demonstrating the potential size of the
mineralized system at Sombrero.
Trench highlights are presented below in Table
1. 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.
Table 1: Trench Results
Sombrero Trench 2018 – Copper and Gold
Significant Intercepts |
Trench |
From (m) |
To (m) |
Interval (m) |
Cu (%) |
Au (g/t) |
CuEQ (%) |
18SRT-04* |
79 |
84 |
5 |
0.01 |
0.28 |
0.17 |
18SRT-05* |
117 |
122 |
5 |
0.01 |
0.50 |
0.29 |
|
132 |
137 |
5 |
0.02 |
1.47 |
0.86 |
18SRT-06* |
61 |
66 |
5 |
0.03 |
0.99 |
0.60 |
|
83 |
88 |
5 |
0.02 |
0.33 |
0.21 |
|
93 |
98 |
5 |
0.03 |
1.39 |
0.83 |
18SRT-07** |
176 |
181 |
5 |
0.10 |
0.08 |
0.15 |
|
197 |
210 |
13 |
0.11 |
0.01 |
0.12 |
* |
259 |
267 |
8 |
0.01 |
0.37 |
0.23 |
** |
306 |
316 |
10 |
0.13 |
0.02 |
0.14 |
18SRT-08** |
13 |
73 |
60 |
0.22 |
0.12 |
0.29 |
|
135 |
234 |
99 |
0.40 |
0.10 |
0.46 |
18SRT-09** |
14 |
119 |
105 |
0.23 |
0.13 |
0.3 |
|
124 |
133 |
9 |
0.20 |
0.21 |
0.32 |
|
173 |
180 |
7 |
0.18 |
0.25 |
0.32 |
|
186 |
191 |
5 |
0.13 |
0.03 |
0.15 |
|
305 |
312 |
7 |
0.13 |
0.54 |
0.44 |
* No less than 5m of >= 0.1 g/t Au, maximum
dilution 5m** No less than 5m of >= 0.1% Cu, maximum dilution
5mMetal price used for Eq calculations: Au $1300/oz and Cu
$3.28/lb, no adjustments for metallurgical recoveries have been
made. |
Rock Sampling:
High-grade gold mineralization has been
encountered in several discrete structures approximately 1 – 3
meters in width across a 400 meter by 1.5 kilometer long corridor.
These samples were taken within the same endo-skarn intrusive body
as our trenches with assays up to 193g/t gold (Figure 1). The
structures sampled extend up to 1.5 kilometers 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 7.75g/t
gold. This indicates the potential for an exo-skarn body at depth
along the contact zone with the intrusive complex (Figure 1).
A summary of 2018 rock samples are presented below in Table 2.
Table 2: Highlights of Rock
Samples
Sombrero Rock 2018 Highlights |
Sample ID |
Au (g/t) |
Cu (ppm) |
W645062 |
193 |
1060 |
W645064 |
15.05 |
865 |
W645065 |
11.05 |
205 |
W645014 |
7.75 |
1010 |
W645026 |
4.79 |
1240 |
W645025 |
3.8 |
1410 |
W645056 |
3.09 |
720 |
W645023 |
2.27 |
557 |
W645024 |
1.78 |
1180 |
W645020 |
1.38 |
168.5 |
W645063 |
0.882 |
229 |
W645013 |
0.81 |
464 |
W645051 |
0.75 |
8350 |
W645029 |
0.608 |
1460 |
A Message from Auryn’s COO and Chief
Geologist:
Michael Henrichsen stated, “These trenches are
peripheral to our main target of exo-skarn bodies at the contact
between the intrusive and Ferrobamba limestone sequence. The broad
zones of oxide copper-gold mineralization encountered in the
intrusive endo-skarn complex are highly encouraging as they
demonstrate a bulk tonnage style of mineralized intervals.”
Mr. Henrichsen further stated, “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, 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 and Director
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.
Grabs 2018 (Sombrero, Peru):
Approximately 2kg 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 30g nominal
weight fire assay with ICP finish (Au-ICP21) and multi-element four
acid digest ICP-AES/ICP-MS method (ME-MS61). Where ICP21 results
were > 3 g/t Au the assay were repeated with 30g nominal
weight fire assay with gravimetric finish (Au-GRA21). Where MS61
results were greater or near 10,000 ppm Cu, Zn or Pb the assay were
repeated with ore grade four acid digest method (OG62). QA/QC
programs for 2018 rock grab samples using internal standard and
blank samples; field and lab duplicates indicate good overall
accuracy and precision. Grab samples were selectively taken and are
not representative of the average mineralization in the area.
Trenches 2018 (Sombrero, Peru):
Analytical samples were taken from each 1 meter interval of
trench floor resulting in approximately 2-3kg 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 30g nominal weight fire assay with atomic absorption finish
(Au-AA25) and multi-element four acid digest ICP-AES/ICP-MS method
(ME-MS61). Where MS61 results were greater or near 10,000 ppm Cu,
Zn or Pb the assay were repeated with ore grade four acid digest
method (OG62). QA/QC programs for 2016 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% Cu cut-off
at beginning and end of the interval and allowing for no more than
five consecutive samples (five meters) of less than 0.1% Cu with a
minimum length of the resulting composite of 5m.
Copper and gold equivalent grades (CuEq and
AuEq) were calculated using gold price of $1300/oz and copper price
of $3.28/lb.
Disclaimer The Toronto Stock
Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/854c48b8-1097-473e-a3bc-430573762aa9
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